The PNC Financial Services Group (NYSE:PNC) Given New $252.00 Price Target at Truist Financial

The PNC Financial Services Group (NYSE:PNC) had its price objective reduced by Truist Financial from $264.00 to $252.00 in a report released on Thursday, Benzinga reports. The firm currently has a “hold” rating on the financial services provider’s stock. Truist Financial’s target price points to a potential upside of 13.28% from the company’s current price.

Several other equities research analysts also recently weighed in on the company. Argus upped their target price on The PNC Financial Services Group from $250.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Oppenheimer boosted their target price on shares of The PNC Financial Services Group from $271.00 to $281.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. Royal Bank Of Canada upped their target price on shares of The PNC Financial Services Group from $235.00 to $273.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Wells Fargo & Company raised their price target on shares of The PNC Financial Services Group from $270.00 to $285.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of The PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $265.00 price target on the stock. in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $270.03.

The PNC Financial Services Group Price Performance

PNC stock opened at $222.47 on Thursday. The company has a market cap of $88.75 billion, a PE ratio of 12.24, a price-to-earnings-growth ratio of 1.11 and a beta of 0.90. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.34. The stock has a 50-day moving average price of $243.10 and a two-hundred day moving average price of $231.94. The PNC Financial Services Group has a 12-month low of $176.88 and a 12-month high of $258.96.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share for the quarter, beating the consensus estimate of $4.46 by $0.39. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The business had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.51 billion. During the same period in the previous year, the company posted $3.85 EPS. The company’s revenue was up 21.4% compared to the same quarter last year. As a group, research analysts predict that The PNC Financial Services Group will post 19.23 EPS for the current year.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Stacy Juchno sold 3,354 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $255.84, for a total transaction of $858,087.36. Following the completion of the sale, the executive vice president owned 18,800 shares of the company’s stock, valued at approximately $4,809,792. This trade represents a 15.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On The PNC Financial Services Group

Institutional investors have recently made changes to their positions in the company. QRG Capital Management Inc. increased its holdings in shares of The PNC Financial Services Group by 56.8% in the 2nd quarter. QRG Capital Management Inc. now owns 81,704 shares of the financial services provider’s stock valued at $20,117,000 after acquiring an additional 29,597 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of The PNC Financial Services Group by 9.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 19,955 shares of the financial services provider’s stock worth $4,913,000 after purchasing an additional 1,783 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of The PNC Financial Services Group by 4.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,103,553 shares of the financial services provider’s stock worth $517,936,000 after buying an additional 90,398 shares during the last quarter. State Street Corp lifted its position in shares of The PNC Financial Services Group by 4.3% in the 2nd quarter. State Street Corp now owns 18,434,446 shares of the financial services provider’s stock worth $4,538,929,000 after buying an additional 765,097 shares during the last quarter. Finally, Integrated Wealth Concepts LLC grew its position in shares of The PNC Financial Services Group by 22.9% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 26,499 shares of the financial services provider’s stock valued at $6,526,000 after buying an additional 4,932 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its banking and financial services businesses, PNC serves consumers, small and mid-sized businesses, corporations, government entities and institutional clients across the United States.

PNC’s principal activities include retail banking, corporate and institutional banking, and asset management. Its products and services include deposit accounts, consumer and business lending, mortgages, credit cards, treasury management, investment banking, commercial finance, wealth management and investment advisory services.