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

The PNC Financial Services Group (NYSE:PNCGet Free Report) had its target price hoisted by research analysts at Truist Financial from $257.00 to $264.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price objective would indicate a potential upside of 4.40% from the stock’s current price.

A number of other equities analysts have also issued reports on the stock. Citigroup raised their price target on shares of The PNC Financial Services Group from $255.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, June 30th. UBS Group upped their price objective on shares of The PNC Financial Services Group from $263.00 to $288.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Morgan Stanley increased their price objective on shares of The PNC Financial Services Group from $267.00 to $278.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Robert W. Baird raised their target price on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Bank of America boosted their target price on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $264.97.

View Our Latest Stock Report on PNC

The PNC Financial Services Group Stock Down 0.9%

Shares of PNC stock opened at $252.88 on Thursday. The PNC Financial Services Group has a fifty-two week low of $176.88 and a fifty-two week high of $256.49. The firm has a market capitalization of $101.55 billion, a PE ratio of 13.92, a P/E/G ratio of 1.03 and a beta of 0.91. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.82 and a current ratio of 0.85. The stock’s 50-day simple moving average is $233.18 and its 200-day simple moving average is $223.46.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last released its earnings results on Wednesday, July 15th. The financial services provider reported $4.85 EPS for the quarter, topping analysts’ consensus estimates of $4.46 by $0.39. The firm had revenue of $6.66 billion during the quarter, compared to the consensus estimate of $6.51 billion. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The company’s revenue was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.85 earnings per share. Equities analysts expect that The PNC Financial Services Group will post 19.05 earnings per share for the current year.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $238.14, for a total value of $357,210.00. Following the sale, the executive vice president directly owned 5,059 shares of the company’s stock, valued at approximately $1,204,750.26. This trade represents a 22.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Stephanie Novosel sold 1,800 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $228.73, for a total value of $411,714.00. Following the transaction, the executive vice president directly owned 3,107 shares of the company’s stock, valued at approximately $710,664.11. The trade was a 36.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 48,300 shares of company stock worth $10,694,574. 0.38% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

A number of large investors have recently added to or reduced their stakes in PNC. Monetary Solutions Ltd purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $25,000. Quarry LP purchased a new position in The PNC Financial Services Group in the 3rd quarter valued at about $25,000. Modus Advisors LLC acquired a new stake in The PNC Financial Services Group in the 4th quarter worth about $29,000. Financial Life Planners acquired a new stake in The PNC Financial Services Group in the 1st quarter worth about $31,000. Finally, Wilkerson Advisory Group LLC increased its stake in The PNC Financial Services Group by 93.4% during the 1st quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock worth $31,000 after buying an additional 71 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about The PNC Financial Services Group

Here are the key news stories impacting The PNC Financial Services Group this week:

The PNC Financial Services Group Company Profile

(Get Free Report)

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.

Further Reading

Analyst Recommendations for The PNC Financial Services Group (NYSE:PNC)

Receive News & Ratings for The PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The PNC Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.