4. QUALITY EDUCATION

Wells Fargo & Company Cuts The PNC Financial Services Group (NYSE:PNC) Price Target to $202.00 – MarketBeat

Written by Amanda

The PNC Financial Services Group (NYSE:PNCGet Rating) had its target price cut by stock analysts at Wells Fargo & Company from $227.00 to $202.00 in a report released on Friday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target points to a potential upside of 28.03% from the company’s previous close.

A number of other research analysts have also recently commented on the company. Wolfe Research lowered their target price on The PNC Financial Services Group from $223.00 to $177.00 and set an “outperform” rating for the company in a research note on Thursday, May 26th. Argus cut their target price on The PNC Financial Services Group from $245.00 to $220.00 in a research note on Monday, April 18th. Morgan Stanley reduced their price target on The PNC Financial Services Group from $209.00 to $196.00 and set an “underweight” rating for the company in a report on Monday, March 28th. Piper Sandler reduced their price objective on The PNC Financial Services Group from $215.00 to $201.00 and set a “neutral” rating for the company in a report on Friday, April 1st. Finally, StockNews.com started coverage on The PNC Financial Services Group in a research note on Thursday, March 31st. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus price target of $214.40.

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PNC opened at $157.77 on Friday. The stock’s 50 day simple moving average is $163.99 and its 200 day simple moving average is $186.32. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.75 and a quick ratio of 0.74. The PNC Financial Services Group has a 1 year low of $149.51 and a 1 year high of $228.14. The firm has a market cap of $65.25 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 2.25 and a beta of 1.24.

The PNC Financial Services Group (NYSE:PNCGet Rating) last released its quarterly earnings data on Thursday, April 14th. The financial services provider reported $3.29 earnings per share for the quarter, topping the consensus estimate of $2.78 by $0.51. The business had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.72 billion. The PNC Financial Services Group had a return on equity of 12.43% and a net margin of 26.14%. The business’s revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the business posted $4.10 EPS. As a group, sell-side analysts anticipate that The PNC Financial Services Group will post 14.19 EPS for the current year.

In other news, Director Robert A. Niblock acquired 2,000 shares of the business’s stock in a transaction dated Friday, May 6th. The shares were purchased at an average price of $167.07 per share, with a total value of $334,140.00. Following the transaction, the director now directly owns 6,063 shares in the company, valued at $1,012,945.41. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Guild Deborah sold 1,257 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $170.56, for a total transaction of $214,393.92. Following the completion of the transaction, the executive vice president now directly owns 23,360 shares in the company, valued at approximately $3,984,281.60. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Oliver Lagore Vanvalin Investment Group acquired a new stake in The PNC Financial Services Group in the 1st quarter worth approximately $66,000. J.W. Cole Advisors Inc. lifted its stake in The PNC Financial Services Group by 11.4% during the 1st quarter. J.W. Cole Advisors Inc. now owns 1,774 shares of the financial services provider’s stock valued at $327,000 after acquiring an additional 182 shares during the period. Insight Advisors LLC PA acquired a new stake in The PNC Financial Services Group during the 1st quarter valued at approximately $432,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in The PNC Financial Services Group by 32.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 64,610 shares of the financial services provider’s stock valued at $11,917,000 after acquiring an additional 15,879 shares during the period. Finally, Walleye Capital LLC lifted its stake in The PNC Financial Services Group by 74.9% during the 1st quarter. Walleye Capital LLC now owns 56,105 shares of the financial services provider’s stock valued at $10,349,000 after acquiring an additional 24,025 shares during the period. Institutional investors own 83.54% of the company’s stock.

About The PNC Financial Services Group (Get Rating)

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The company’s Retail Banking segment offers brokerage, insurance, and investment and cash management services; checking, savings, and money market accounts; certificates of deposits; and lending products, which includes residential mortgages, home equity loans and lines of credit, auto loans, education loans, and personal and small business loans, and credit cards to consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels.

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Source: marketbeat.com

About the author

Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai