The PNC Financial Services Group (NYSE:PNC) Price Target Raised to $216.00

The PNC Financial Services Group (NYSE:PNC) had its price objective hoisted by Truist Financial from $215.00 to $216.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. Truist Financial’s target price suggests a potential upside of 8.13% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Citigroup increased their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Wells Fargo & Company raised their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Piper Sandler upped their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Evercore ISI raised their target price on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Stephens upped their price target on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $203.35.

The PNC Financial Services Group Trading Up 1.6 %

Shares of PNC traded up $3.23 during trading hours on Friday, hitting $199.77. The stock had a trading volume of 760,018 shares, compared to its average volume of 2,277,782. The company’s fifty day simple moving average is $201.65 and its 200 day simple moving average is $186.67. The PNC Financial Services Group has a 12-month low of $139.69 and a 12-month high of $216.26. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $79.26 billion, a P/E ratio of 16.87, a P/E/G ratio of 1.77 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The company had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business posted $3.16 EPS. Equities research analysts forecast that The PNC Financial Services Group will post 13.47 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $216.01, for a total transaction of $268,284.42. Following the transaction, the chief executive officer now directly owns 533,765 shares in the company, valued at $115,298,577.65. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the sale, the director now owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,030 shares of company stock valued at $5,928,202 in the last quarter. Insiders own 0.42% of the company’s stock.

Hedge Funds Weigh In On The PNC Financial Services Group

Large investors have recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV lifted its holdings in shares of The PNC Financial Services Group by 9.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 29,510 shares of the financial services provider’s stock worth $4,588,000 after purchasing an additional 2,670 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in The PNC Financial Services Group by 7.3% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,387 shares of the financial services provider’s stock worth $2,081,000 after buying an additional 908 shares during the period. Blair William & Co. IL lifted its stake in The PNC Financial Services Group by 216.5% in the second quarter. Blair William & Co. IL now owns 45,739 shares of the financial services provider’s stock valued at $7,112,000 after buying an additional 31,289 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of The PNC Financial Services Group during the second quarter valued at $512,000. Finally, MQS Management LLC bought a new position in shares of The PNC Financial Services Group during the second quarter worth about $487,000. Institutional investors own 83.53% of the company’s stock.

About The PNC Financial Services Group

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.