The PNC Financial Services Group (NYSE:PNC) Stock Price Expected to Rise, Oppenheimer Analyst Says

The PNC Financial Services Group (NYSE:PNC) had its target price increased by research analysts at Oppenheimer from $268.00 to $271.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Oppenheimer’s target price suggests a potential upside of 9.76% from the company’s current price.

Several other equities analysts also recently issued reports on PNC. Barclays lifted their price target on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Friday, March 27th. JPMorgan Chase & Co. increased their price target on The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Stephens assumed coverage on The PNC Financial Services Group in a report on Monday, June 15th. They set an “overweight” rating and a $265.00 price target for the company. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $235.00 price objective on shares of The PNC Financial Services Group in a research note on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $248.17.

The PNC Financial Services Group Price Performance

NYSE PNC traded up $0.17 during trading on Tuesday, reaching $246.90. 510,169 shares of the company traded hands, compared to its average volume of 2,447,936. The PNC Financial Services Group has a 1-year low of $176.88 and a 1-year high of $249.01. The company has a market cap of $99.15 billion, a price-to-earnings ratio of 14.35, a P/E/G ratio of 1.00 and a beta of 0.92. The stock’s 50 day moving average price is $225.07 and its two-hundred day moving average price is $219.59. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The business had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The PNC Financial Services Group’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.51 EPS. As a group, analysts anticipate that The PNC Financial Services Group will post 18.81 EPS for the current year.

Insider Activity at The PNC Financial Services Group

In related news, EVP Stephanie Novosel sold 1,800 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the sale, the executive vice president owned 3,107 shares of the company’s stock, valued at $710,664.11. This trade represents a 36.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Andrew T. Feldstein sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the completion of the transaction, the director owned 10,749 shares of the company’s stock, valued at $2,370,906.93. This trade represents a 80.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 48,300 shares of company stock valued at $10,694,574 over the last quarter. Corporate insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On The PNC Financial Services Group

Large investors have recently made changes to their positions in the company. Truist Financial Corp boosted its position in shares of The PNC Financial Services Group by 3.3% in the 4th quarter. Truist Financial Corp now owns 1,242,483 shares of the financial services provider’s stock worth $259,344,000 after purchasing an additional 39,589 shares during the last quarter. Vanguard Group Inc. increased its holdings in The PNC Financial Services Group by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider’s stock valued at $8,114,168,000 after purchasing an additional 408,464 shares during the last quarter. Teamwork Financial Advisors LLC acquired a new position in The PNC Financial Services Group in the fourth quarter valued at about $13,711,000. Stoneridge Investment Partners LLC lifted its stake in The PNC Financial Services Group by 59.1% in the fourth quarter. Stoneridge Investment Partners LLC now owns 23,727 shares of the financial services provider’s stock valued at $4,953,000 after buying an additional 8,818 shares during the period. Finally, First Trust Advisors LP boosted its holdings in The PNC Financial Services Group by 27.4% during the third quarter. First Trust Advisors LP now owns 1,998,954 shares of the financial services provider’s stock worth $401,650,000 after buying an additional 430,261 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Company Profile

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.