The PNC Financial Services Group (NYSE:PNC) Now Covered by Analysts at Wolfe Research

Analysts at Wolfe Research initiated coverage on shares of The PNC Financial Services Group (NYSE:PNC) in a research note issued to investors on Tuesday. The firm set a “peer perform” rating on the financial services provider’s stock.

Several other equities research analysts have also recently commented on PNC. Truist Financial lowered their price target on The PNC Financial Services Group from $252.00 to $248.00 and set a “hold” rating for the company in a research note on Monday, October 19th. HSBC increased their price objective on The PNC Financial Services Group from $275.00 to $283.00 and gave the stock a “buy” rating in a report on Monday, September 28th. Royal Bank Of Canada cut their price objective on shares of The PNC Financial Services Group from $273.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, October 16th. DA Davidson lifted their target price on shares of The PNC Financial Services Group from $247.00 to $281.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Finally, Evercore decreased their target price on shares of The PNC Financial Services Group from $265.00 to $260.00 and set an “outperform” rating for the company in a research report on Monday, October 19th. Seventeen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $266.13.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $225.81 on Tuesday. The stock has a market cap of $90.09 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 1.16 and a beta of 0.94. The business has a fifty day simple moving average of $232.30 and a 200-day simple moving average of $228.61. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.23. The PNC Financial Services Group has a 12 month low of $177.08 and a 12 month high of $258.96.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Thursday, October 15th. The financial services provider reported $5.09 earnings per share for the quarter, beating analysts’ consensus estimates of $4.91 by $0.18. The business had revenue of $6.60 billion for the quarter, compared to the consensus estimate of $6.61 billion. The PNC Financial Services Group had a return on equity of 12.82% and a net margin of 21.83%. The PNC Financial Services Group’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.35 earnings per share. On average, sell-side analysts anticipate that The PNC Financial Services Group will post 19.22 EPS for the current fiscal year.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Stacy Juchno sold 3,354 shares of The PNC Financial Services Group stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $255.84, for a total value of $858,087.36. Following the transaction, the executive vice president directly owned 18,800 shares of the company’s stock, valued at $4,809,792. The trade was a 15.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.38% of the stock is owned by company insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE acquired a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at $2,102,631,000. Nykredit A S bought a new position in shares of The PNC Financial Services Group during the 2nd quarter worth about $33,532,000. AMG National Trust Bank acquired a new stake in shares of The PNC Financial Services Group during the 2nd quarter valued at about $30,557,000. Amundi boosted its position in shares of The PNC Financial Services Group by 5.2% during the 2nd quarter. Amundi now owns 1,824,741 shares of the financial services provider’s stock valued at $449,288,000 after acquiring an additional 90,734 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of The PNC Financial Services Group during the 2nd quarter valued at about $69,078,000. 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 principal banking subsidiary, PNC Bank, the company provides banking, lending, investment, and related financial services to individuals, small businesses, corporations, government entities, and institutional clients.

PNC’s consumer offerings include checking and savings accounts, credit cards, mortgages, home equity loans, personal lending, and online and mobile banking.