Truist Financial Boosts The PNC Financial Services Group (NYSE:PNC) Price Target to $216.00

The PNC Financial Services Group (NYSE:PNC) had its price objective boosted by equities research analysts at Truist Financial from $215.00 to $216.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price objective would suggest a potential upside of 8.89% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the stock. Morgan Stanley boosted their price objective on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research report on Wednesday, October 16th. Evercore ISI upped their price target on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Stephens upped their price target on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Citigroup upped their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, Compass Point upped their price target on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $205.00.

The PNC Financial Services Group Stock Performance

Shares of NYSE:PNC opened at $198.36 on Friday. The company has a market capitalization of $78.71 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 1.77 and a beta of 1.16. The PNC Financial Services Group has a 12 month low of $139.69 and a 12 month high of $216.26. The firm’s 50-day moving average is $201.40 and its 200 day moving average is $187.03. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating the consensus estimate of $3.26 by $0.51. The company had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.16 EPS. Research analysts predict that The PNC Financial Services Group will post 13.47 EPS for the current year.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $190.27, for a total transaction of $236,315.34. Following the sale, the chief executive officer now owns 544,765 shares in the company, valued at approximately $103,652,436.55. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the sale, the director now owns 915 shares in the company, valued at approximately $170,299.80. This represents a 48.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,030 shares of company stock worth $5,928,202. 0.42% of the stock is owned by company insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Winch Advisory Services LLC purchased a new position in The PNC Financial Services Group during the fourth quarter valued at $25,000. Albion Financial Group UT purchased a new position in shares of The PNC Financial Services Group in the fourth quarter worth about $30,000. Valley Wealth Managers Inc. lifted its stake 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 worth $37,000 after buying an additional 200 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in The PNC Financial Services Group during the third quarter worth about $51,000. Finally, Quarry LP increased its position in The PNC Financial Services Group by 141.7% during the second quarter. Quarry LP now owns 290 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 170 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Company Profile

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.