The PNC Financial Services Group (NYSE:PNC) Downgraded by Deutsche Bank Aktiengesellschaft to “Hold”

The PNC Financial Services Group (NYSE:PNC) was downgraded by equities research analysts at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, MarketBeat.com reports. They presently have a $265.00 price target on the financial services provider’s stock. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential upside of 4.83% from the company’s previous close.

PNC has been the subject of a number of other reports. Morgan Stanley boosted their price target on The PNC Financial Services Group from $267.00 to $278.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Barclays raised their price objective on The PNC Financial Services Group from $277.00 to $284.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Robert W. Baird lifted their price objective on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. Oppenheimer boosted their target price on shares of The PNC Financial Services Group from $271.00 to $281.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Finally, Truist Financial increased their target price on shares of The PNC Financial Services Group from $257.00 to $264.00 and gave the stock a “hold” rating in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $265.48.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $252.79 on Thursday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.84 and a current ratio of 0.85. The stock has a market capitalization of $101.51 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 1.00 and a beta of 0.91. The PNC Financial Services Group has a one year low of $176.88 and a one year high of $256.49. The company’s 50-day simple moving average is $235.44 and its 200-day simple moving average is $224.42.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.46 by $0.39. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The firm had revenue of $6.66 billion for the quarter, compared to analysts’ expectations of $6.51 billion. During the same quarter in the prior year, the firm posted $3.85 earnings per share. The PNC Financial Services Group’s revenue for the quarter was up 21.4% compared to the same quarter last year. Equities analysts anticipate that The PNC Financial Services Group will post 19.14 earnings per share for the current fiscal year.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Stephanie Novosel sold 1,800 shares of the firm’s stock in a transaction 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 sale, the executive vice president directly owned 3,107 shares in the company, valued at approximately $710,664.11. This trade represents a 36.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Andrew T. Feldstein sold 45,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the transaction, the director directly owned 10,749 shares of the company’s stock, valued at approximately $2,370,906.93. This trade represents a 80.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 48,300 shares of company stock worth $10,694,574 in the last 90 days. 0.38% of the stock is currently owned by company insiders.

Institutional Trading of The PNC Financial Services Group

Several hedge funds have recently bought and sold shares of PNC. Monetary Solutions Ltd acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $25,000. Quarry LP bought a new position in The PNC Financial Services Group in the 3rd quarter worth approximately $25,000. Modus Advisors LLC bought a new position in The PNC Financial Services Group in the 4th quarter worth approximately $29,000. Financial Life Planners acquired a new stake in The PNC Financial Services Group in the 1st quarter valued at approximately $31,000. Finally, Wilkerson Advisory Group LLC increased its position in The PNC Financial Services Group by 93.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 71 shares during the period. 83.53% of the stock is currently owned by institutional investors.

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.