The PNC Financial Services Group (NYSE:PNC) PT Raised to $184.00

The PNC Financial Services Group (NYSE:PNC) had its price target raised by equities research analysts at Evercore ISI from $180.00 to $184.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Evercore ISI’s price objective indicates a potential upside of 14.44% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. The Goldman Sachs Group increased their target price on shares of The PNC Financial Services Group from $128.00 to $147.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 19th. Morgan Stanley increased their price objective on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a report on Tuesday, January 30th. Piper Sandler increased their price objective on shares of The PNC Financial Services Group from $125.00 to $143.00 and gave the stock a “neutral” rating in a report on Friday, December 8th. Odeon Capital Group raised shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $153.38 price objective on the stock in a report on Thursday, December 14th. Finally, Wells Fargo & Company raised their target price on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research note on Thursday. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $152.87.

The PNC Financial Services Group Price Performance

Shares of PNC stock traded up $0.81 during mid-day trading on Thursday, reaching $160.78. The company’s stock had a trading volume of 229,246 shares, compared to its average volume of 2,211,865. The PNC Financial Services Group has a 1-year low of $109.40 and a 1-year high of $161.18. The company has a market cap of $63.96 billion, a P/E ratio of 12.54, a PEG ratio of 1.79 and a beta of 1.17. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.84 and a current ratio of 0.84. The firm’s 50-day moving average is $149.73 and its two-hundred day moving average is $138.10.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $1.04. The business had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.30 billion. The PNC Financial Services Group had a net margin of 17.50% and a return on equity of 12.27%. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter last year, the company posted $3.49 EPS. On average, research analysts predict that The PNC Financial Services Group will post 12.4 earnings per share for the current year.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the completion of the sale, the executive vice president now owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On The PNC Financial Services Group

A number of hedge funds have recently made changes to their positions in PNC. Blair William & Co. IL raised its stake in shares of The PNC Financial Services Group by 0.5% during the 1st quarter. Blair William & Co. IL now owns 16,997 shares of the financial services provider’s stock worth $3,135,000 after purchasing an additional 89 shares during the period. Cetera Investment Advisers increased its holdings in The PNC Financial Services Group by 12.0% in the 1st quarter. Cetera Investment Advisers now owns 16,141 shares of the financial services provider’s stock worth $2,977,000 after acquiring an additional 1,724 shares during the last quarter. Covestor Ltd increased its holdings in The PNC Financial Services Group by 68.8% in the 1st quarter. Covestor Ltd now owns 336 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 137 shares during the last quarter. West Family Investments Inc. increased its holdings in The PNC Financial Services Group by 9.1% in the 1st quarter. West Family Investments Inc. now owns 1,164 shares of the financial services provider’s stock worth $215,000 after acquiring an additional 97 shares during the last quarter. Finally, Ergoteles LLC increased its holdings in The PNC Financial Services Group by 137.9% in the 1st quarter. Ergoteles LLC now owns 21,048 shares of the financial services provider’s stock worth $3,882,000 after acquiring an additional 12,201 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

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.