The PNC Financial Services Group (NYSE:PNC) Coverage Initiated at Truist Financial

Truist Financial assumed coverage on shares of The PNC Financial Services Group (NYSE:PNCGet Free Report) in a research note issued to investors on Tuesday,Benzinga reports. The firm set a “hold” rating and a $215.00 price target on the financial services provider’s stock. Truist Financial’s price objective suggests a potential upside of 10.53% from the stock’s previous close.

Several other equities analysts have also weighed in on PNC. Morgan Stanley lifted their target price on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a report on Wednesday, October 16th. Piper Sandler raised their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Stephens upped their price target on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Keefe, Bruyette & Woods raised their price objective on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group increased their price objective on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $203.29.

Check Out Our Latest Analysis on The PNC Financial Services Group

The PNC Financial Services Group Stock Down 0.1 %

NYSE:PNC opened at $194.51 on Tuesday. The firm has a market capitalization of $77.18 billion, a P/E ratio of 16.44, a PEG ratio of 2.11 and a beta of 1.16. The company’s fifty day moving average price is $201.30 and its 200-day moving average price is $185.23. The PNC Financial Services Group has a 1-year low of $139.69 and a 1-year high of $216.26. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The company’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $3.60 EPS. As a group, equities research analysts anticipate that The PNC Financial Services Group will post 13.45 EPS for the current year.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the transaction, the director now directly owns 915 shares in the company, valued at approximately $170,299.80. This represents a 48.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $190.57, for a total transaction of $236,687.94. Following the sale, the chief executive officer now owns 546,007 shares of the company’s stock, valued at approximately $104,052,553.99. The trade was a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,272 shares of company stock worth $6,155,103 in the last 90 days. 0.42% of the stock is owned by insiders.

Institutional Trading of The PNC Financial Services Group

Several large investors have recently bought and sold shares of the company. Y.D. More Investments Ltd purchased a new position in The PNC Financial Services Group during the 2nd quarter valued at about $33,000. Valley Wealth Managers Inc. raised its position in shares of The PNC Financial Services Group by 20,000.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 200 shares during the last quarter. Quarry LP lifted its stake in The PNC Financial Services Group by 141.7% in the 2nd quarter. Quarry LP now owns 290 shares of the financial services provider’s stock valued at $45,000 after buying an additional 170 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in The PNC Financial Services Group during the 3rd quarter valued at $51,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its position in The PNC Financial Services Group by 231.6% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider’s stock worth $58,000 after buying an additional 220 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Company Profile

(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 time 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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Analyst Recommendations for The PNC Financial Services Group (NYSE:PNC)

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