Truist Financial Boosts The PNC Financial Services Group (NYSE:PNC) Price Target to $198.00

The PNC Financial Services Group (NYSE:PNC) had its price target increased by analysts at Truist Financial from $189.00 to $198.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price objective points to a potential downside of 0.31% from the company’s previous close.

A number of other research firms also recently issued reports on PNC. Citigroup dropped their price objective on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Morgan Stanley dropped their price objective on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 16th. Barclays dropped their price objective on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. HSBC upgraded shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and dropped their price objective for the company from $206.00 to $202.00 in a research note on Monday, March 31st. Finally, Wells Fargo & Company dropped their price objective on shares of 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $209.11.

The PNC Financial Services Group Trading Up 0.3%

PNC stock traded up $0.61 during mid-day trading on Wednesday, reaching $198.61. The company had a trading volume of 839,439 shares, compared to its average volume of 2,128,763. 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 company has a market capitalization of $78.56 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 1.65 and a beta of 1.07. The firm has a 50 day moving average of $177.31 and a 200 day moving average of $180.07. The PNC Financial Services Group has a 12 month low of $145.12 and a 12 month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.04. The business had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. On average, equities analysts predict that The PNC Financial Services Group will post 15.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Kieran John Fallon sold 1,492 shares of the firm’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $174.56, for a total value of $260,443.52. Following the completion of the transaction, the executive vice president owned 20,490 shares of the company’s stock, valued at approximately $3,576,734.40. This trade represents a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Martin Pfinsgraff purchased 1,000 shares of the firm’s stock in a transaction on Friday, April 25th. The stock was bought at an average cost of $158.22 per share, with a total value of $158,220.00. Following the acquisition, the director owned 2,009 shares of the company’s stock, valued at approximately $317,863.98. The trade was a 99.11% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 10,186 shares of company stock valued at $1,686,634. Insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC increased its stake in shares of The PNC Financial Services Group by 32.2% in the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after acquiring an additional 984 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $37,587,000. Edgestream Partners L.P. acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $627,000. Daiwa Securities Group Inc. increased its stake in shares of The PNC Financial Services Group by 7.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 52,084 shares of the financial services provider’s stock worth $10,044,000 after acquiring an additional 3,573 shares during the period. Finally, Independent Advisor Alliance increased its stake in shares of The PNC Financial Services Group by 11.2% in the fourth quarter. Independent Advisor Alliance now owns 17,734 shares of the financial services provider’s stock worth $3,420,000 after acquiring an additional 1,779 shares during the period. Hedge funds and other institutional investors 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.