Raymond James Financial Upgrades The PNC Financial Services Group (NYSE:PNC) to “Outperform”

The PNC Financial Services Group (NYSE:PNC) was upgraded by analysts at Raymond James Financial from a “market perform” rating to an “outperform” rating in a research note issued on Tuesday, MarketBeat.com reports. The firm presently has a $220.00 price objective on the financial services provider’s stock. Raymond James Financial’s target price indicates a potential upside of 12.04% from the stock’s current price.

Several other analysts have also weighed in on the company. Truist Financial decreased their price target on The PNC Financial Services Group from $208.00 to $189.00 and set a “hold” rating on the stock in a report on Wednesday, April 16th. Keefe, Bruyette & Woods decreased their price target on The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating on the stock in a report on Wednesday, April 16th. Citigroup decreased their price target on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, March 24th. HSBC upgraded The PNC Financial Services Group from a “hold” rating to a “buy” rating and decreased their price target for the company from $206.00 to $202.00 in a report on Monday, March 31st. Finally, Wells Fargo & Company reduced their target price on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.11.

The PNC Financial Services Group Stock Down 0.1%

Shares of PNC opened at $196.35 on Tuesday. The stock has a market capitalization of $77.67 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 1.66 and a beta of 1.07. The PNC Financial Services Group has a 1 year low of $145.12 and a 1 year high of $216.26. The business’s 50 day simple moving average is $176.56 and its 200-day simple moving average is $179.94. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 10.95% and a net margin of 17.68%. The company had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. As a group, equities analysts expect that The PNC Financial Services Group will post 15.37 earnings per share for the current fiscal year.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Kieran John Fallon sold 1,492 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $174.56, for a total transaction of $260,443.52. Following the transaction, the executive vice president owned 20,490 shares of the company’s stock, valued at approximately $3,576,734.40. This represents a 6.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $179.14, for a total value of $222,491.88. Following the transaction, the chief executive officer directly owned 556,121 shares in the company, valued at $99,623,515.94. The trade was a 0.22% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,787 shares of company stock valued at $1,782,794. 0.41% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mechanics Financial Corp bought a new position in shares of The PNC Financial Services Group during the 4th quarter worth $541,000. AssuredPartners Investment Advisors LLC bought a new stake in The PNC Financial Services Group during the fourth quarter valued at about $739,000. Premier Fund Managers Ltd boosted its position in The PNC Financial Services Group by 38.3% during the fourth quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider’s stock valued at $9,511,000 after purchasing an additional 13,700 shares in the last quarter. PKS Advisory Services LLC bought a new stake in The PNC Financial Services Group during the fourth quarter valued at about $357,000. Finally, Kingswood Wealth Advisors LLC boosted its position in The PNC Financial Services Group by 4.5% during the first quarter. Kingswood Wealth Advisors LLC now owns 2,802 shares of the financial services provider’s stock valued at $493,000 after purchasing an additional 120 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

About The PNC Financial Services Group

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.