The PNC Financial Services Group (NYSE:PNC) Upgraded to “Strong-Buy” at Hsbc Global Res

The PNC Financial Services Group (NYSE:PNC) was upgraded by equities research analysts at Hsbc Global Res from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Several other analysts also recently weighed in on the company. Truist Financial upped their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research report on Friday, January 17th. Citigroup reduced their price objective on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Compass Point raised their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Piper Sandler upped their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Stephens reaffirmed an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $204.12.

The PNC Financial Services Group Stock Up 2.3 %

PNC stock opened at $175.87 on Monday. The stock has a market cap of $69.60 billion, a P/E ratio of 12.79, a PEG ratio of 1.55 and a beta of 1.13. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group has a twelve month low of $143.52 and a twelve month high of $216.26. The company’s 50 day moving average is $187.46 and its two-hundred day moving average is $192.20.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period last year, the business earned $3.16 EPS. The PNC Financial Services Group’s revenue for the quarter was up 3.8% compared to the same quarter last year. Research analysts expect that The PNC Financial Services Group will post 15.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $171.15, for a total transaction of $212,568.30. Following the sale, the chief executive officer now owns 567,299 shares of the company’s stock, valued at $97,093,223.85. The trade was a 0.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have sold 12,420 shares of company stock worth $2,342,313. 0.41% of the stock is owned by company insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

Several hedge funds and other institutional investors have recently bought and sold shares of PNC. Winch Advisory Services LLC purchased a new position in shares of The PNC Financial Services Group in the fourth quarter valued at $25,000. Richardson Financial Services Inc. boosted its position in shares of The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after buying an additional 140 shares in the last quarter. Albion Financial Group UT acquired a new stake in The PNC Financial Services Group in the 4th quarter valued at about $30,000. Rialto Wealth Management LLC purchased a new position in The PNC Financial Services Group during the 4th quarter valued at about $32,000. Finally, Synergy Asset Management LLC acquired a new position in The PNC Financial Services Group during the fourth quarter worth about $32,000. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.