The PNC Financial Services Group (NYSE:PNC – Get Rating) had its price objective raised by equities research analysts at Morgan Stanley from $176.00 to $177.00 in a note issued to investors on Thursday, The Fly reports. Morgan Stanley’s price objective would indicate a potential upside of 18.39% from the company’s previous close.
A number of other equities analysts also recently issued reports on the company. Evercore ISI lowered their price objective on The PNC Financial Services Group to $180.00 in a research report on Thursday, October 20th. The Goldman Sachs Group raised their price objective on The PNC Financial Services Group from $162.00 to $165.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 4th. Citigroup raised their price objective on The PNC Financial Services Group to $180.00 in a research report on Friday, December 2nd. Wolfe Research lifted their target price on The PNC Financial Services Group from $164.00 to $170.00 in a report on Thursday, December 1st. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on The PNC Financial Services Group from $215.00 to $200.00 and set a “hold” rating for the company in a report on Monday, September 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $185.84.
The PNC Financial Services Group Trading Down 0.1 %
Shares of PNC stock traded down $0.12 during mid-day trading on Thursday, reaching $149.50. 30,429 shares of the stock traded hands, compared to its average volume of 2,144,270. The stock’s fifty day simple moving average is $158.30 and its two-hundred day simple moving average is $160.70. The PNC Financial Services Group has a 1-year low of $143.52 and a 1-year high of $228.14. The company has a market cap of $60.30 billion, a price-to-earnings ratio of 11.27, a price-to-earnings-growth ratio of 2.31 and a beta of 1.16. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.17.
The PNC Financial Services Group (NYSE:PNC – Get Rating) last issued its quarterly earnings data on Friday, October 14th. The financial services provider reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.66 by $0.12. The PNC Financial Services Group had a return on equity of 12.45% and a net margin of 26.96%. The company had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same period last year, the company earned $3.75 earnings per share. The firm’s revenue was up 6.8% compared to the same quarter last year. On average, research analysts anticipate that The PNC Financial Services Group will post 14.43 EPS for the current fiscal year.
Insider Activity
In related news, EVP Guild Deborah sold 2,833 shares of The PNC Financial Services Group stock in a transaction that occurred on Thursday, November 17th. The stock was sold at an average price of $159.66, for a total transaction of $452,316.78. Following the transaction, the executive vice president now owns 20,527 shares of the company’s stock, valued at $3,277,340.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.34% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of PNC. Price T Rowe Associates Inc. MD boosted its position in shares of The PNC Financial Services Group by 21.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 13,413,715 shares of the financial services provider’s stock valued at $2,116,282,000 after buying an additional 2,373,814 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of The PNC Financial Services Group by 56,674.0% during the second quarter. Federated Hermes Inc. now owns 1,945,646 shares of the financial services provider’s stock valued at $306,965,000 after buying an additional 1,942,219 shares during the last quarter. Neuberger Berman Group LLC boosted its position in shares of The PNC Financial Services Group by 39.2% during the third quarter. Neuberger Berman Group LLC now owns 2,913,910 shares of the financial services provider’s stock valued at $435,463,000 after buying an additional 820,537 shares during the last quarter. State Street Corp boosted its position in The PNC Financial Services Group by 3.3% in the third quarter. State Street Corp now owns 18,436,065 shares of the financial services provider’s stock worth $2,754,717,000 after purchasing an additional 595,811 shares during the last quarter. Finally, BlackRock Inc. boosted its position in The PNC Financial Services Group by 2.0% in the first quarter. BlackRock Inc. now owns 30,563,752 shares of the financial services provider’s stock worth $5,637,484,000 after purchasing an additional 589,293 shares during the last quarter. Hedge funds and other institutional investors own 81.89% of the company’s stock.
About The PNC Financial Services Group
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The company’s Retail Banking segment offers checking, savings, and money market accounts, as well as certificates of 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.
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