The PNC Financial Services Group (NYSE:PNC) Stock Price Expected to Rise, Truist Financial Analyst Says

The PNC Financial Services Group (NYSE:PNC) had its price objective hoisted by equities researchers at Truist Financial from $215.00 to $216.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price target points to a potential upside of 8.13% from the stock’s current price.

Several other equities research analysts have also recently commented on PNC. Wells Fargo & Company upped their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Morgan Stanley lifted their target price on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a report on Wednesday, October 16th. Citigroup increased their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, November 25th. The Goldman Sachs Group lifted their price objective on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, Barclays increased their target price on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $203.35.

The PNC Financial Services Group Stock Performance

NYSE:PNC traded up $3.23 during trading hours on Friday, reaching $199.77. 760,018 shares of the company’s stock were exchanged, compared to its average volume of 2,277,782. The PNC Financial Services Group has a 1-year low of $139.69 and a 1-year high of $216.26. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $79.26 billion, a price-to-earnings ratio of 16.87, a P/E/G ratio of 1.77 and a beta of 1.16. The company has a 50-day moving average of $201.65 and a 200 day moving average of $186.67.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.51. The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.16 earnings per share. Research analysts anticipate that The PNC Financial Services Group will post 13.47 EPS for the current year.

Insider Buying and Selling at The PNC Financial Services Group

In other news, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the sale, the director now directly owns 38,649 shares in the company, valued at $8,119,768.41. This represents a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $216.01, for a total value of $268,284.42. Following the sale, the chief executive officer now owns 533,765 shares of the company’s stock, valued at approximately $115,298,577.65. This represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 29,030 shares of company stock worth $5,928,202. 0.42% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On The PNC Financial Services Group

Hedge funds have recently modified their holdings of the company. Mercer Global Advisors Inc. ADV grew its stake in 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 acquiring an additional 2,670 shares during the period. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of 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 valued at $2,081,000 after purchasing an additional 908 shares during the period. Blair William & Co. IL increased 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 purchasing an additional 31,289 shares during the last quarter. XTX Topco Ltd purchased a new position in The PNC Financial Services Group during the second quarter worth about $512,000. Finally, MQS Management LLC acquired a new stake in The PNC Financial Services Group in the 2nd quarter worth about $487,000. 83.53% of the stock is owned by institutional investors and hedge funds.

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.