The PNC Financial Services Group (NYSE:PNC) Price Target Raised to $284.00

The PNC Financial Services Group (NYSE:PNC) had its target price boosted by investment analysts at Oppenheimer from $268.00 to $284.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Oppenheimer’s price objective indicates a potential upside of 27.26% from the company’s current price.

Several other equities analysts have also recently weighed in on PNC. Citigroup lifted their price target on The PNC Financial Services Group from $217.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of The PNC Financial Services Group in a research report on Monday, December 22nd. Truist Financial boosted their price objective on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a research note on Thursday, December 18th. Evercore ISI raised their price target on shares of The PNC Financial Services Group from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Finally, UBS Group boosted their price target on shares of The PNC Financial Services Group from $224.00 to $229.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $228.22.

The PNC Financial Services Group Stock Performance

Shares of NYSE:PNC traded down $0.02 during midday trading on Tuesday, reaching $223.16. The company had a trading volume of 1,513,689 shares, compared to its average volume of 2,679,110. The stock has a market cap of $87.52 billion, a P/E ratio of 13.45, a P/E/G ratio of 0.95 and a beta of 0.99. 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 PNC Financial Services Group has a 52-week low of $145.12 and a 52-week high of $227.00. The company’s 50 day moving average price is $203.44 and its 200 day moving average price is $197.50.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, beating the consensus estimate of $4.23 by $0.65. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The business had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $5.90 billion. During the same quarter in the prior year, the business earned $3.77 earnings per share. The PNC Financial Services Group’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, sell-side analysts anticipate that The PNC Financial Services Group will post 15.37 EPS for the current fiscal year.

Insider Activity

In related news, EVP Michael Duane Thomas sold 1,000 shares of the firm’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 transaction of $183,570.00. Following the transaction, the executive vice president directly owned 5,802 shares in the company, valued at $1,065,073.14. This trade represents a 14.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Guild Deborah sold 1,080 shares of the business’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 value of $201,927.60. Following the completion of the sale, the executive vice president owned 27,335 shares of the company’s stock, valued at $5,110,824.95. The trade was a 3.80% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.41% of the company’s stock.

Institutional Trading of The PNC Financial Services Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Horizon Corp acquired a new stake in shares of The PNC Financial Services Group in the 3rd quarter worth $8,360,000. Benjamin Edwards Inc. grew its position in The PNC Financial Services Group by 27.2% during the 3rd quarter. Benjamin Edwards Inc. now owns 24,763 shares of the financial services provider’s stock worth $4,977,000 after purchasing an additional 5,294 shares during the last quarter. Cullen Capital Management LLC raised its stake in The PNC Financial Services Group by 3.8% in the 2nd quarter. Cullen Capital Management LLC now owns 204,875 shares of the financial services provider’s stock worth $38,193,000 after acquiring an additional 7,478 shares during the last quarter. Harbour Investments Inc. lifted its position in The PNC Financial Services Group by 115.1% during the 2nd quarter. Harbour Investments Inc. now owns 5,631 shares of the financial services provider’s stock worth $1,050,000 after acquiring an additional 3,013 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of The PNC Financial Services Group by 134.9% during the second quarter. AQR Capital Management LLC now owns 3,338,964 shares of the financial services provider’s stock worth $622,450,000 after purchasing an additional 1,917,530 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

About The PNC Financial Services Group

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.