The PNC Financial Services Group (NYSE:PNC) Stock Gets Price Target Trim from UBS Group

The PNC Financial Services Group (NYSE:PNC) had its target price cut by UBS Group from $286.00 to $278.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. UBS Group‘s price objective would indicate a potential upside of 19.96% from the company’s current price.

Other analysts have also issued reports about the stock. The Goldman Sachs Group lowered their target price on shares of The PNC Financial Services Group from $281.00 to $250.00 and set a “neutral” rating for the company in a research note on Monday, October 5th. Robert W. Baird upped their price target on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. Truist Financial cut their price objective on shares of The PNC Financial Services Group from $252.00 to $248.00 and set a “hold” rating on the stock in a research report on Monday, October 19th. Keefe, Bruyette & Woods cut their price target on shares of The PNC Financial Services Group from $260.00 to $250.00 and set a “market perform” rating on the stock in a report on Friday, October 16th. Finally, Jefferies Financial Group decreased their price target on The PNC Financial Services Group from $305.00 to $280.00 and set a “buy” rating for the company in a research note on Thursday, September 24th. Seventeen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $266.04.

The PNC Financial Services Group Price Performance

PNC stock traded up $3.88 during midday trading on Monday, hitting $231.74. The company’s stock had a trading volume of 1,603,412 shares, compared to its average volume of 2,196,739. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $92.45 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 1.18 and a beta of 0.94. The company has a 50 day moving average of $230.03 and a two-hundred day moving average of $228.88. The PNC Financial Services Group has a 12 month low of $177.08 and a 12 month high of $258.96.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, October 15th. The financial services provider reported $5.09 earnings per share for the quarter, topping the consensus estimate of $4.91 by $0.18. The company had revenue of $6.60 billion for the quarter, compared to analysts’ expectations of $6.61 billion. The PNC Financial Services Group had a net margin of 21.83% and a return on equity of 12.82%. The PNC Financial Services Group’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.35 earnings per share. On average, analysts expect that The PNC Financial Services Group will post 19.22 EPS for the current year.

Insider Buying and Selling

In other news, EVP Stacy Juchno sold 3,354 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $255.84, for a total transaction of $858,087.36. Following the completion of the sale, the executive vice president owned 18,800 shares in the company, valued at $4,809,792. This trade represents a 15.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.38% of the stock is owned by company insiders.

Institutional Trading of The PNC Financial Services Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ascent Group LLC boosted its position in shares of The PNC Financial Services Group by 2.9% during the third quarter. Ascent Group LLC now owns 17,356 shares of the financial services provider’s stock worth $3,858,000 after buying an additional 488 shares during the period. Caldwell Trust Co boosted its holdings in The PNC Financial Services Group by 9.6% during the 3rd quarter. Caldwell Trust Co now owns 2,907 shares of the financial services provider’s stock valued at $646,000 after acquiring an additional 255 shares during the period. 3Chopt Investment Partners LLC increased its stake in The PNC Financial Services Group by 34.3% during the third quarter. 3Chopt Investment Partners LLC now owns 3,309 shares of the financial services provider’s stock worth $735,000 after purchasing an additional 845 shares during the period. Compass Financial Management LLC lifted its position in shares of The PNC Financial Services Group by 72.1% during the third quarter. Compass Financial Management LLC now owns 685 shares of the financial services provider’s stock worth $152,000 after purchasing an additional 287 shares in the last quarter. Finally, Rakuten Investment Management Inc. lifted its position in shares of The PNC Financial Services Group by 9.0% during the third quarter. Rakuten Investment Management Inc. now owns 71,610 shares of the financial services provider’s stock worth $15,872,000 after purchasing an additional 5,904 shares in the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its principal banking subsidiary, PNC Bank, the company provides banking, lending, investment, and related financial services to individuals, small businesses, corporations, government entities, and institutional clients.

PNC’s consumer offerings include checking and savings accounts, credit cards, mortgages, home equity loans, personal lending, and online and mobile banking.