The PNC Financial Services Group (NYSE:PNC) Given New $271.00 Price Target at Barclays

The PNC Financial Services Group (NYSE:PNC) had its price target increased by research analysts at Barclays from $235.00 to $271.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s target price indicates a potential upside of 23.78% from the company’s previous close.

Other analysts also recently issued reports about the stock. Piper Sandler upgraded shares of The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and increased their price target for the company from $211.00 to $220.00 in a research report on Thursday, October 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of The PNC Financial Services Group in a report on Monday, December 22nd. 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 report on Tuesday, October 7th. Morgan Stanley raised their price objective on The PNC Financial Services Group from $186.00 to $206.00 and gave the stock an “underweight” rating in a research note on Monday, September 29th. Finally, Keefe, Bruyette & Woods boosted their target price on The PNC Financial Services Group from $215.00 to $228.00 and gave the company a “market perform” rating in a research note on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $221.11.

The PNC Financial Services Group Trading Up 3.5%

NYSE:PNC traded up $7.48 on Monday, hitting $218.94. 168,508 shares of the stock were exchanged, compared to its average volume of 1,102,720. The company’s 50-day moving average price is $195.99 and its 200 day moving average price is $195.05. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group has a 52 week low of $145.12 and a 52 week high of $217.62. The stock has a market capitalization of $85.86 billion, a price-to-earnings ratio of 14.07, a P/E/G ratio of 1.06 and a beta of 0.99.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, beating analysts’ consensus estimates of $4.05 by $0.30. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The company had revenue of $5.92 billion for the quarter, compared to the consensus estimate of $5.82 billion. During the same quarter in the prior year, the business posted $3.49 EPS. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. On average, equities research analysts forecast that The PNC Financial Services Group will post 15.37 earnings per share for the current year.

Insider Activity at The PNC Financial Services Group

In related news, EVP Michael Duane Thomas sold 1,000 shares of the 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 completion of the transaction, the executive vice president directly owned 5,802 shares of the company’s stock, valued at approximately $1,065,073.14. This represents a 14.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Guild Deborah sold 1,080 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $186.97, for a total value of $201,927.60. Following the transaction, the executive vice president directly owned 27,335 shares in the company, valued at $5,110,824.95. This trade represents a 3.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.41% of the stock is owned by company insiders.

Institutional Investors Weigh In On The PNC Financial Services Group

Several hedge funds have recently bought and sold shares of the stock. Quarry LP acquired a new position in The PNC Financial Services Group during the 3rd quarter worth approximately $25,000. IMG Wealth Management Inc. acquired a new stake in The PNC Financial Services Group in the 2nd quarter valued at $27,000. Concord Wealth Partners increased its stake in The PNC Financial Services Group by 144.9% during the 2nd quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 100 shares in the last quarter. Westfuller Advisors LLC acquired a new position in The PNC Financial Services Group during the third quarter worth $34,000. Finally, FNY Investment Advisers LLC acquired a new position in The PNC Financial Services Group during the second quarter worth $37,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Company Profile

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.