The PNC Financial Services Group (NYSE:PNC) Price Target Raised to $264.00

The PNC Financial Services Group (NYSE:PNC) had its price objective upped by equities researchers at Wells Fargo & Company from $252.00 to $264.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 18.30% from the stock’s previous close.

A number of other analysts have also recently weighed in on the stock. Evercore ISI increased their price target on shares of The PNC Financial Services Group from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Keefe, Bruyette & Woods lifted their target price on The PNC Financial Services Group from $228.00 to $247.00 and gave the company a “market perform” rating in a research note on Tuesday. TD Cowen upped their price target on The PNC Financial Services Group from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Oppenheimer lowered their price objective on shares of 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. Finally, Barclays upped their price objective on shares of The PNC Financial Services Group from $235.00 to $271.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $228.22.

The PNC Financial Services Group Stock Down 0.0%

PNC stock traded down $0.02 during trading on Tuesday, hitting $223.16. 1,513,689 shares of the company’s stock were exchanged, compared to its average volume of 2,679,110. The business has a 50-day moving average price of $203.44 and a two-hundred day moving average price of $197.50. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $87.52 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 0.95 and a beta of 0.99. The PNC Financial Services Group has a 52-week low of $145.12 and a 52-week high of $227.00.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, beating analysts’ consensus estimates of $4.23 by $0.65. The firm had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $5.90 billion. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The company’s revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm posted $3.77 EPS. As a group, equities research analysts expect that The PNC Financial Services Group will post 15.37 EPS for the current year.

Insider Buying and Selling at The PNC Financial Services Group

In related news, EVP Michael Duane Thomas sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total value of $183,570.00. Following the sale, the executive vice president owned 5,802 shares of the company’s stock, valued at approximately $1,065,073.14. This represents a 14.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Guild Deborah sold 1,080 shares of the business’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $186.97, for a total value of $201,927.60. Following the completion of the transaction, the executive vice president directly owned 27,335 shares of the company’s stock, valued at approximately $5,110,824.95. This trade represents a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.41% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On The PNC Financial Services Group

Several hedge funds have recently modified their holdings of the company. Quarry LP acquired a new stake in The PNC Financial Services Group during the third quarter worth approximately $25,000. IMG Wealth Management Inc. purchased a new position in The PNC Financial Services Group during the second quarter worth about $27,000. Beacon Financial Strategies CORP purchased a new position in shares of The PNC Financial Services Group during the 4th quarter worth about $35,000. Concord Wealth Partners boosted its position in shares of The PNC Financial Services Group by 144.9% in the second quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 100 shares during the last quarter. Finally, Westfuller Advisors LLC acquired a new position in The PNC Financial Services Group during the third quarter worth approximately $34,000. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Company Profile

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.