Oppenheimer Forecasts Strong Price Appreciation for The PNC Financial Services Group (NYSE:PNC) Stock

The PNC Financial Services Group (NYSE:PNC) had its price target boosted by equities researchers at Oppenheimer from $268.00 to $284.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Oppenheimer’s target price points to a potential upside of 27.26% from the stock’s current price.

Several other research analysts also recently weighed in on the company. Barclays upped their target price on The PNC Financial Services Group from $235.00 to $271.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Morgan Stanley lifted their price objective on The PNC Financial Services Group from $186.00 to $206.00 and gave the stock an “underweight” rating in a report on Monday, September 29th. Evercore ISI lifted their price target on The PNC Financial Services Group from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. TD Cowen boosted their price target on The PNC Financial Services Group from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. Finally, Wells Fargo & Company raised their price objective on The PNC Financial Services Group from $252.00 to $264.00 and gave the company an “overweight” rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $228.22.

The PNC Financial Services Group Stock Performance

PNC stock traded down $0.02 during trading on Tuesday, hitting $223.16. 1,513,689 shares of the company traded hands, compared to its average volume of 2,679,110. The PNC Financial Services Group has a 1 year low of $145.12 and a 1 year high of $227.00. The company has a market cap of $87.52 billion, a PE ratio of 13.45, a P/E/G ratio of 0.95 and a beta of 0.99. The stock’s 50-day simple moving average is $203.44 and its 200 day simple moving average is $197.50. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.23 by $0.65. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The firm had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $5.90 billion. During the same period in the previous year, the business posted $3.77 EPS. The business’s revenue was up 9.1% compared to the same quarter last year. On average, equities analysts expect that The PNC Financial Services Group will post 15.37 earnings per share for the current fiscal year.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,080 shares of The PNC Financial Services Group stock in a transaction on Friday, October 24th. The stock was sold at an average price of $186.97, for a total value of $201,927.60. Following the sale, the executive vice president owned 27,335 shares in the company, valued at $5,110,824.95. The trade was a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Duane Thomas sold 1,000 shares of the stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total value of $183,570.00. Following the transaction, the executive vice president owned 5,802 shares of the company’s stock, valued at approximately $1,065,073.14. This represents a 14.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.41% of the stock is owned by company insiders.

Institutional Trading of The PNC Financial Services Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. West Branch Capital LLC grew its stake in shares of The PNC Financial Services Group by 20.0% in the fourth quarter. West Branch Capital LLC now owns 510 shares of the financial services provider’s stock valued at $106,000 after buying an additional 85 shares in the last quarter. IVC Wealth Advisors LLC boosted its holdings in The PNC Financial Services Group by 47.9% during the 4th quarter. IVC Wealth Advisors LLC now owns 2,125 shares of the financial services provider’s stock valued at $444,000 after acquiring an additional 688 shares during the period. Dorato Capital Management acquired a new position in The PNC Financial Services Group in the 4th quarter valued at about $549,000. Earned Wealth Advisors LLC increased its stake in The PNC Financial Services Group by 10.0% during the fourth quarter. Earned Wealth Advisors LLC now owns 3,704 shares of the financial services provider’s stock worth $773,000 after purchasing an additional 337 shares during the period. Finally, Abacus Planning Group Inc. acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $219,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.