The PNC Financial Services Group (NYSE:PNC) Stock Gets Price Target Boost from JPMorgan Chase & Co.

The PNC Financial Services Group (NYSE:PNC) had its price objective hoisted by investment analysts at JPMorgan Chase & Co. from $258.00 to $259.00 in a report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 13.66% from the stock’s current price.

Several other research firms have also commented on PNC. TD Cowen reduced their price target on The PNC Financial Services Group from $245.00 to $240.00 and set a “hold” rating on the stock in a report on Friday, October 16th. Stephens cut their price target on shares of The PNC Financial Services Group from $265.00 to $250.00 and set an “overweight” rating for the company in a report on Monday, October 19th. Oppenheimer raised their price target on shares of The PNC Financial Services Group from $263.00 to $269.00 and gave the stock an “outperform” rating in a research note on Friday, October 16th. Truist Financial reduced their target price on shares of The PNC Financial Services Group from $252.00 to $248.00 and set a “hold” rating on the stock in a report on Monday, October 19th. Finally, The Goldman Sachs Group lowered their target price on shares of The PNC Financial Services Group from $281.00 to $250.00 and set a “neutral” rating for the company in a research note on Monday, October 5th. Seventeen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $266.17.

The PNC Financial Services Group Stock Down 1.7%

Shares of PNC traded down $3.95 during trading hours on Friday, hitting $227.88. The company had a trading volume of 1,506,285 shares, compared to its average volume of 2,199,580. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a market capitalization of $90.91 billion, a price-to-earnings ratio of 12.13, a P/E/G ratio of 1.18 and a beta of 0.94. The firm has a fifty day moving average price of $230.03 and a 200-day moving average price of $228.88. The PNC Financial Services Group has a 52-week low of $177.08 and a 52-week high of $258.96.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Thursday, October 15th. The financial services provider reported $5.09 EPS for the quarter, topping analysts’ consensus estimates of $4.91 by $0.18. The PNC Financial Services Group had a net margin of 21.83% and a return on equity of 12.82%. The business had revenue of $6.60 billion during the quarter, compared to analysts’ expectations of $6.61 billion. During the same period last year, the company posted $4.35 EPS. The business’s revenue was up 10.9% on a year-over-year basis. On average, equities research analysts forecast that The PNC Financial Services Group will post 19.22 EPS for the current fiscal year.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Stacy Juchno sold 3,354 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $255.84, for a total value of $858,087.36. Following the completion of the sale, the executive vice president directly owned 18,800 shares of the company’s stock, valued at approximately $4,809,792. This represents a 15.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.38% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PNC. BlackRock Inc. purchased a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth $7,921,455,000. Bank of America Corp DE purchased a new stake in The PNC Financial Services Group in the second quarter valued at $2,102,631,000. Deutsche Bank AG acquired a new position in The PNC Financial Services Group in the 2nd quarter valued at $1,054,189,000. Jupiter Topco LLC acquired a new stake in The PNC Financial Services Group in the 2nd quarter worth about $756,877,000. Finally, Legal & General Group Plc purchased a new stake in shares of The PNC Financial Services Group during the 2nd quarter valued at about $669,168,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its principal banking subsidiary, PNC Bank, the company provides banking, lending, investment, and related financial services to individuals, small businesses, corporations, government entities, and institutional clients.

PNC’s consumer offerings include checking and savings accounts, credit cards, mortgages, home equity loans, personal lending, and online and mobile banking.