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 raised by Truist Financial from $210.00 to $229.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price target suggests a potential upside of 8.48% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of The PNC Financial Services Group from $215.00 to $228.00 and gave the stock a “market perform” rating in a research note on Wednesday. Stephens reaffirmed an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a report on Wednesday, September 10th. Oppenheimer dropped their price target on The PNC Financial Services Group from $240.00 to $231.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 19th. 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 company from $211.00 to $220.00 in a research note on Thursday, October 9th. Finally, Morgan Stanley raised their price target on shares of The PNC Financial Services Group from $186.00 to $206.00 and gave the company an “underweight” rating in a research note on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Moderate Buy” and an average price target of $219.11.

The PNC Financial Services Group Trading Up 0.4%

PNC stock traded up $0.80 during midday trading on Thursday, hitting $211.10. The stock had a trading volume of 444,415 shares, compared to its average volume of 2,169,565. The company’s 50-day moving average price is $189.34 and its 200 day moving average price is $191.95. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $82.78 billion, a PE ratio of 13.64, a price-to-earnings-growth ratio of 1.18 and a beta of 1.01. The PNC Financial Services Group has a 12-month low of $145.12 and a 12-month high of $213.03.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.05 by $0.30. The business had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.82 billion. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The business’s revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.49 earnings per share. On average, equities research analysts predict that The PNC Financial Services Group will post 15.37 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Michael Duane Thomas sold 1,000 shares of the company’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Guild Deborah sold 1,080 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $186.97, for a total transaction of $201,927.60. Following the completion of the transaction, the executive vice president owned 27,335 shares in the company, valued at approximately $5,110,824.95. This represents a 3.80% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.41% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Avior Wealth Management LLC grew its holdings in The PNC Financial Services Group by 4.5% in the 2nd quarter. Avior Wealth Management LLC now owns 1,213 shares of the financial services provider’s stock valued at $226,000 after buying an additional 52 shares during the last quarter. Rockland Trust Co. boosted its position in shares of The PNC Financial Services Group by 0.5% in the second quarter. Rockland Trust Co. now owns 10,499 shares of the financial services provider’s stock valued at $1,957,000 after acquiring an additional 53 shares during the period. Kennebec Savings Bank grew its stake in shares of The PNC Financial Services Group by 1.6% in the third quarter. Kennebec Savings Bank now owns 3,424 shares of the financial services provider’s stock worth $688,000 after acquiring an additional 54 shares during the last quarter. Almanack Investment Partners LLC. increased its position in The PNC Financial Services Group by 2.3% during the second quarter. Almanack Investment Partners LLC. now owns 2,433 shares of the financial services provider’s stock worth $454,000 after acquiring an additional 55 shares during the period. Finally, Winthrop Capital Management LLC raised its stake in The PNC Financial Services Group by 2.1% during the 2nd quarter. Winthrop Capital Management LLC now owns 2,619 shares of the financial services provider’s stock valued at $488,000 after purchasing an additional 55 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

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.