The PNC Financial Services Group (NYSE:PNC) Price Target Raised to $270.00

The PNC Financial Services Group (NYSE:PNC) had its price target boosted by equities research analysts at Wells Fargo & Company from $264.00 to $270.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 8.38% from the stock’s current price.

PNC has been the topic of a number of other reports. Citigroup increased their price target on shares of The PNC Financial Services Group from $255.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. Stephens assumed coverage on shares of The PNC Financial Services Group in a report on Monday, June 15th. They issued an “overweight” rating and a $265.00 price objective for the company. Keefe, Bruyette & Woods upped their price objective on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the company a “market perform” rating in a research note on Thursday, April 16th. Bank of America increased their target price on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Finally, Truist Financial lifted their target price on shares of The PNC Financial Services Group from $245.00 to $257.00 and gave the stock a “hold” rating in a research report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $253.06.

The PNC Financial Services Group Trading Down 0.1%

Shares of PNC stock opened at $249.13 on Monday. The business has a 50-day moving average price of $226.89 and a two-hundred day moving average price of $220.69. The PNC Financial Services Group has a 12-month low of $176.88 and a 12-month high of $254.00. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05. The firm has a market cap of $100.04 billion, a P/E ratio of 14.48, a price-to-earnings-growth ratio of 1.02 and a beta of 0.91.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, beating the consensus estimate of $3.92 by $0.40. The firm had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The company’s revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the company earned $3.51 EPS. Equities analysts anticipate that The PNC Financial Services Group will post 18.82 EPS for the current fiscal year.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Stephanie Novosel sold 1,800 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the sale, the executive vice president owned 3,107 shares in the company, valued at approximately $710,664.11. The trade was a 36.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Duane Thomas sold 1,500 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $238.14, for a total value of $357,210.00. Following the sale, the executive vice president directly owned 5,059 shares of the company’s stock, valued at approximately $1,204,750.26. This trade represents a 22.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 48,300 shares of company stock worth $10,694,574. 0.38% of the stock is currently owned by insiders.

Institutional Investors Weigh In On The PNC Financial Services Group

A number of large investors have recently added to or reduced their stakes in the company. CX Institutional raised its stake in shares of The PNC Financial Services Group by 7.7% during the second quarter. CX Institutional now owns 3,024 shares of the financial services provider’s stock valued at $745,000 after acquiring an additional 216 shares during the last quarter. SWP Investment Management LLC grew its stake in shares of The PNC Financial Services Group by 3.9% in the second quarter. SWP Investment Management LLC now owns 11,767 shares of the financial services provider’s stock worth $2,897,000 after purchasing an additional 440 shares during the last quarter. Marathon Mission Inc. grew its stake in shares of The PNC Financial Services Group by 6.3% in the second quarter. Marathon Mission Inc. now owns 2,999 shares of the financial services provider’s stock worth $738,000 after purchasing an additional 177 shares during the last quarter. Adelphi Trust Co increased its holdings in The PNC Financial Services Group by 10.7% during the 2nd quarter. Adelphi Trust Co now owns 4,238 shares of the financial services provider’s stock valued at $1,043,000 after purchasing an additional 408 shares during the period. Finally, Eastern Bank increased its holdings in The PNC Financial Services Group by 4.9% during the 2nd quarter. Eastern Bank now owns 239,171 shares of the financial services provider’s stock valued at $58,889,000 after purchasing an additional 11,240 shares during the period. Institutional investors own 83.53% of the company’s stock.

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.