The PNC Financial Services Group (NYSE:PNC) Upgraded to Hold at HSBC

The PNC Financial Services Group (NYSE:PNC) was upgraded by research analysts at HSBC from a “reduce” rating to a “hold” rating in a research note issued to investors on Thursday, Marketbeat reports. The brokerage currently has a $155.00 target price on the financial services provider’s stock, up from their prior target price of $141.00. HSBC’s target price would suggest a potential downside of 3.11% from the stock’s previous close.

Several other research firms have also commented on PNC. The Goldman Sachs Group lifted their price target on shares of The PNC Financial Services Group from $128.00 to $147.00 and gave the company a “neutral” rating in a research report on Tuesday, December 19th. Keefe, Bruyette & Woods lifted their price target on shares of The PNC Financial Services Group from $125.00 to $145.00 and gave the company an “underperform” rating in a research report on Wednesday, January 3rd. Stephens reaffirmed an “equal weight” rating and set a $138.00 price target on shares of The PNC Financial Services Group in a research report on Tuesday, December 5th. Morgan Stanley lifted their price target on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research report on Tuesday, January 30th. Finally, Piper Sandler lifted their price target on shares of The PNC Financial Services Group from $125.00 to $143.00 and gave the company a “neutral” rating in a research report on Friday, December 8th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $149.59.

The PNC Financial Services Group Trading Up 3.2 %

PNC opened at $159.97 on Thursday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.84 and a quick ratio of 0.84. The company’s 50 day simple moving average is $149.73 and its two-hundred day simple moving average is $138.10. The PNC Financial Services Group has a 1-year low of $109.40 and a 1-year high of $160.10. The firm has a market capitalization of $63.64 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 1.79 and a beta of 1.17.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $1.04. The business had revenue of $5.36 billion for the quarter, compared to analyst estimates 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 business’s revenue was down 7.0% on a year-over-year basis. During the same period last year, the company posted $3.49 EPS. Analysts expect that The PNC Financial Services Group will post 12.4 EPS for the current fiscal year.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Michael J. Hannon sold 3,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the sale, the executive vice president now owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.42% of the company’s stock.

Hedge Funds Weigh In On The PNC Financial Services Group

Institutional investors and hedge funds have recently modified their holdings of the company. BKM Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth $26,000. Tennessee Valley Asset Management Partners acquired a new position in The PNC Financial Services Group in the fourth quarter valued at $26,000. Householder Group Estate & Retirement Specialist LLC boosted its stake in The PNC Financial Services Group by 350.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 140 shares in the last quarter. Fortitude Family Office LLC acquired a new position in The PNC Financial Services Group in the fourth quarter valued at $28,000. Finally, Fortis Group Advisors LLC boosted its stake in The PNC Financial Services Group by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

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.