The PNC Financial Services Group (NYSE:PNC) Price Target Raised to $264.00 at Wells Fargo & Company

The PNC Financial Services Group (NYSE:PNC) had its price target upped by equities researchers at Wells Fargo & Company from $252.00 to $264.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price points to a potential upside of 18.30% from the stock’s current price.

A number of other research firms have also recently weighed in on PNC. Barclays upped their price target on The PNC Financial Services Group from $235.00 to $271.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Cfra Research upgraded shares of The PNC Financial Services Group to a “moderate buy” rating in a report on Thursday, October 16th. Truist Financial lifted their target price on The PNC Financial Services Group from $210.00 to $229.00 and gave the stock a “hold” rating in a research report on Thursday, December 18th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of The PNC Financial Services Group in a research report on Monday, December 22nd. Finally, UBS Group upped 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. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, The PNC Financial Services Group has an average rating of “Moderate Buy” and a consensus target price of $228.22.

The PNC Financial Services Group Trading Down 0.0%

PNC stock traded down $0.02 during midday trading on Tuesday, reaching $223.16. 1,513,689 shares of the company’s stock traded hands, compared to its average volume of 2,679,110. The PNC Financial Services Group has a fifty-two week low of $145.12 and a fifty-two week high of $227.00. The business has a 50-day moving average price of $203.44 and a two-hundred day moving average price of $197.50. The company has a market capitalization of $87.52 billion, a P/E ratio of 13.45, a PEG ratio of 0.95 and a beta of 0.99. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, beating the consensus estimate of $4.23 by $0.65. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The business had revenue of $6.07 billion for the quarter, compared to analyst estimates of $5.90 billion. During the same quarter in the previous year, the business posted $3.77 EPS. The business’s quarterly revenue was up 9.1% on a year-over-year basis. Equities research analysts forecast that The PNC Financial Services Group will post 15.37 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Guild Deborah sold 1,080 shares of the stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $186.97, for a total transaction of $201,927.60. Following the sale, the executive vice president owned 27,335 shares in the company, valued at $5,110,824.95. This represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael Duane Thomas sold 1,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total value of $183,570.00. Following the completion of the transaction, the executive vice president owned 5,802 shares of the company’s stock, valued at approximately $1,065,073.14. The trade was a 14.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.41% of the stock is currently owned by corporate insiders.

Institutional Trading of The PNC Financial Services Group

Several hedge funds have recently made changes to their positions in PNC. Avior Wealth Management LLC increased its position in The PNC Financial Services Group by 4.5% in the second quarter. Avior Wealth Management LLC now owns 1,213 shares of the financial services provider’s stock worth $226,000 after buying an additional 52 shares during the period. PUREfi Wealth LLC grew its holdings in The PNC Financial Services Group by 2.4% during the fourth quarter. PUREfi Wealth LLC now owns 2,305 shares of the financial services provider’s stock worth $481,000 after acquiring an additional 53 shares during the period. Kennebec Savings Bank raised its position in The PNC Financial Services Group by 1.6% in the third quarter. Kennebec Savings Bank now owns 3,424 shares of the financial services provider’s stock worth $688,000 after acquiring an additional 54 shares in the last quarter. Almanack Investment Partners LLC. lifted its holdings in The PNC Financial Services Group by 2.3% in the 2nd quarter. Almanack Investment Partners LLC. now owns 2,433 shares of the financial services provider’s stock valued at $454,000 after acquiring an additional 55 shares during the last quarter. Finally, Winthrop Capital Management LLC boosted its position in shares of The PNC Financial Services Group by 2.1% during the 2nd quarter. Winthrop Capital Management LLC now owns 2,619 shares of the financial services provider’s stock valued at $488,000 after purchasing an additional 55 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 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.