The PNC Financial Services Group (NYSE:PNC) Stock Price Expected to Rise, Morgan Stanley Analyst Says

The PNC Financial Services Group (NYSE:PNC) had its target price raised by equities research analysts at Morgan Stanley from $199.00 to $208.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “underweight” rating on the financial services provider’s stock. Morgan Stanley’s price objective suggests a potential upside of 4.86% from the company’s current price.

Several other equities analysts also recently issued reports on the company. Stephens reiterated an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday. Piper Sandler lifted their price objective on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Evercore ISI lifted their price objective on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Truist Financial lifted their price objective on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research report on Friday. Finally, The Goldman Sachs Group boosted their target price on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $205.00.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $198.36 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $78.71 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 1.77 and a beta of 1.16. The PNC Financial Services Group has a one year low of $139.69 and a one year high of $216.26. The business has a 50 day simple moving average of $201.40 and a 200 day simple moving average of $187.03.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter last year, the company earned $3.16 EPS. The PNC Financial Services Group’s revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts forecast that The PNC Financial Services Group will post 13.47 EPS for the current fiscal year.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the transaction, the director now directly owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $216.01, for a total value of $268,284.42. Following the completion of the transaction, the chief executive officer now directly owns 533,765 shares of the company’s stock, valued at approximately $115,298,577.65. The trade was a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,030 shares of company stock valued at $5,928,202. Company insiders own 0.42% of the company’s stock.

Institutional Trading of The PNC Financial Services Group

Institutional investors have recently modified their holdings of the company. Winch Advisory Services LLC bought a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at about $25,000. Albion Financial Group UT bought a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at about $30,000. Valley Wealth Managers Inc. lifted its holdings in shares of The PNC Financial Services Group by 20,000.0% in the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 200 shares in the last quarter. Quarry LP lifted its holdings in shares of The PNC Financial Services Group by 141.7% in the second quarter. Quarry LP now owns 290 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 170 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of The PNC Financial Services Group in the third quarter valued at about $51,000. 83.53% of the stock is currently owned by institutional investors.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.