Keefe, Bruyette & Woods Issues Positive Forecast for The PNC Financial Services Group (NYSE:PNC) Stock Price

The PNC Financial Services Group (NYSE:PNC) had its price objective hoisted by equities research analysts at Keefe, Bruyette & Woods from $228.00 to $247.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 10.76% from the company’s previous close.

PNC has been the topic of a number of other reports. Morgan Stanley increased their target price on The PNC Financial Services Group from $186.00 to $206.00 and gave the stock an “underweight” rating in a report on Monday, September 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Monday, December 22nd. Evercore ISI lifted their price objective on shares of The PNC Financial Services Group from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Piper Sandler raised shares of The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $211.00 to $220.00 in a research report on Thursday, October 9th. Finally, Barclays raised their price target on shares of The PNC Financial Services Group from $235.00 to $271.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $223.11.

The PNC Financial Services Group Stock Up 3.7%

Shares of NYSE PNC opened at $223.01 on Tuesday. The firm has a market cap of $87.46 billion, a PE ratio of 13.44, a P/E/G ratio of 0.95 and a beta of 0.99. The PNC Financial Services Group has a 12-month low of $145.12 and a 12-month high of $227.00. The company’s fifty day simple moving average is $203.44 and its 200 day simple moving average is $197.50. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.94.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, beating the consensus estimate of $4.23 by $0.65. The firm had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $5.90 billion. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The business’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.77 earnings per share. As a group, sell-side analysts forecast that The PNC Financial Services Group will post 15.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Michael Duane Thomas sold 1,000 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total value of $183,570.00. Following the transaction, the executive vice president directly owned 5,802 shares of the company’s stock, valued at approximately $1,065,073.14. The trade was a 14.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Guild Deborah sold 1,080 shares of the firm’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $186.97, for a total transaction of $201,927.60. Following the sale, the executive vice president owned 27,335 shares of the company’s stock, valued at $5,110,824.95. This trade represents a 3.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PNC. Quarry LP purchased a new position in The PNC Financial Services Group in the third quarter valued at approximately $25,000. IMG Wealth Management Inc. bought a new stake in shares of The PNC Financial Services Group in the second quarter valued at $27,000. Concord Wealth Partners lifted its position in shares of The PNC Financial Services Group by 144.9% during the 2nd quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock valued at $32,000 after buying an additional 100 shares during the last quarter. Westfuller Advisors LLC bought a new position in shares of The PNC Financial Services Group during the 3rd quarter worth $34,000. Finally, Beacon Financial Strategies CORP purchased a new stake in The PNC Financial Services Group in the 4th quarter worth about $35,000. 83.53% of the stock is owned by 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, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.