The PNC Financial Services Group (NYSE:PNC) Stock Gets Price Target Reduction from Truist Financial

The PNC Financial Services Group (NYSE:PNC) had its price objective dropped by equities researchers at Truist Financial from $252.00 to $248.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price target would indicate a potential upside of 14.02% from the stock’s previous close.

A number of other research analysts have also weighed in on PNC. Raymond James Financial cut their price objective on The PNC Financial Services Group from $275.00 to $255.00 and set an “outperform” rating on the stock in a report on Friday. Citigroup lifted their target price on The PNC Financial Services Group from $280.00 to $290.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Royal Bank Of Canada decreased their target price on The PNC Financial Services Group from $273.00 to $250.00 and set an “outperform” rating for the company in a report on Friday. Morgan Stanley upped their target price on The PNC Financial Services Group from $267.00 to $278.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Finally, Stephens upped their target price on The PNC Financial Services Group from $265.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $267.00.

The PNC Financial Services Group Price Performance

NYSE PNC opened at $217.51 on Monday. The company has a market cap of $86.77 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 1.14 and a beta of 0.94. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.84 and a quick ratio of 0.83. The stock’s fifty day moving average price is $235.33 and its 200 day moving average price is $233.29. The PNC Financial Services Group has a 1 year low of $176.88 and a 1 year high of $258.96.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Thursday, October 15th. The financial services provider reported $5.09 EPS for the quarter, topping analysts’ consensus estimates of $4.91 by $0.18. The PNC Financial Services Group had a return on equity of 12.82% and a net margin of 21.83%. The company had revenue of $6.60 billion during the quarter, compared to analysts’ expectations of $6.61 billion. During the same quarter in the previous year, the firm posted $4.35 EPS. The firm’s revenue was up 10.9% compared to the same quarter last year. As a group, equities research analysts forecast that The PNC Financial Services Group will post 19.22 earnings per share for the current year.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Stacy Juchno sold 3,354 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $255.84, for a total transaction of $858,087.36. Following the completion of the transaction, the executive vice president owned 18,800 shares of the company’s stock, valued at $4,809,792. This represents a 15.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is owned by insiders.

Institutional Trading of The PNC Financial Services Group

Several large investors have recently made changes to their positions in the company. Highland Investment Advisors LLC acquired a new position in The PNC Financial Services Group in the 2nd quarter valued at $27,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in The PNC Financial Services Group in the 2nd quarter valued at $28,000. Archer Investment Corp acquired a new stake in The PNC Financial Services Group during the 2nd quarter worth $33,000. Financial Life Planners acquired a new stake in The PNC Financial Services Group during the 1st quarter worth $31,000. Finally, Wilkerson Advisory Group LLC grew its holdings in shares of The PNC Financial Services Group by 93.4% during the first quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock worth $31,000 after buying an additional 71 shares in the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its principal banking subsidiary, PNC Bank, the company provides banking, lending, investment, and related financial services to individuals, small businesses, corporations, government entities, and institutional clients.

PNC’s consumer offerings include checking and savings accounts, credit cards, mortgages, home equity loans, personal lending, and online and mobile banking.