4. QUALITY EDUCATION

The PNC Financial Services Group (NYSE:PNC) Price Target Increased to $128.00 by Analysts at The Goldman Sachs Group

Written by Amanda

The PNC Financial Services Group (NYSE:PNCGet Free Report) had its price target increased by analysts at The Goldman Sachs Group from $116.00 to $128.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. The Goldman Sachs Group’s price objective indicates a potential downside of 5.23% from the company’s current price.

A number of other research firms also recently weighed in on PNC. Piper Sandler raised their price target on The PNC Financial Services Group from $130.00 to $131.00 and gave the company a “neutral” rating in a research note on Friday, September 15th. HSBC assumed coverage on The PNC Financial Services Group in a research note on Thursday, September 7th. They issued a “reduce” rating and a $110.00 price target for the company. Stephens cut their price objective on The PNC Financial Services Group from $143.00 to $138.00 and set an “equal weight” rating for the company in a research report on Monday, October 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price objective on shares of The PNC Financial Services Group in a research report on Tuesday, October 24th. Finally, Morgan Stanley cut their price objective on The PNC Financial Services Group from $144.00 to $142.00 and set an “underweight” rating for the company in a research report on Tuesday, October 3rd. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $149.78.

Check Out Our Latest Research Report on The PNC Financial Services Group

The PNC Financial Services Group Stock Up 0.8 %

Shares of NYSE:PNC traded up $1.11 during mid-day trading on Friday, reaching $135.07. 139,831 shares of the stock were exchanged, compared to its average volume of 2,863,567. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.34. The company has a market cap of $53.80 billion, a P/E ratio of 9.36, a P/E/G ratio of 1.18 and a beta of 1.14. The PNC Financial Services Group has a one year low of $109.40 and a one year high of $169.07. The stock’s 50 day simple moving average is $121.32 and its 200-day simple moving average is $123.72.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last posted its quarterly earnings results on Friday, October 13th. The financial services provider reported $3.60 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.50. The firm had revenue of $5.23 billion during the quarter, compared to the consensus estimate of $5.32 billion. The PNC Financial Services Group had a return on equity of 12.91% and a net margin of 20.39%. The business’s revenue was down 5.7% compared to the same quarter last year. During the same period last year, the company earned $3.78 earnings per share. As a group, equities research analysts predict that The PNC Financial Services Group will post 13.86 EPS for the current year.

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. MUFG Securities EMEA plc acquired a new position in The PNC Financial Services Group in the 2nd quarter valued at $25,000. Fiduciary Alliance LLC bought a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at $27,000. OFI Invest Asset Management bought a new position in shares of The PNC Financial Services Group in the 3rd quarter valued at $25,000. Tyler Stone Wealth Management bought a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at $29,000. Finally, Cornerstone Planning Group LLC bought a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at $30,000. 80.14% of the stock is owned by institutional investors and hedge funds.

About The PNC Financial Services Group

(Get Free Report)

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 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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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