Citigroup Issues Pessimistic Forecast for The PNC Financial Services Group (NYSE:PNC) Stock Price

The PNC Financial Services Group (NYSE:PNC) had its price objective decreased by stock analysts at Citigroup from $235.00 to $200.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Citigroup’s price target would suggest a potential upside of 13.19% from the stock’s current price.

Several other equities research analysts also recently issued reports on PNC. Morgan Stanley raised their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a report on Friday, January 17th. Stephens reaffirmed an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a report on Friday, January 17th. Truist Financial raised their price objective on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. The Goldman Sachs Group reduced their target price on The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. Finally, Piper Sandler raised their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $201.65.

The PNC Financial Services Group Stock Up 1.8 %

Shares of The PNC Financial Services Group stock traded up $3.09 on Monday, reaching $176.70. 674,274 shares of the company were exchanged, compared to its average volume of 1,754,192. The company has a market capitalization of $69.93 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 1.55 and a beta of 1.13. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group has a one year low of $143.52 and a one year high of $216.26. The company has a 50-day moving average of $190.03 and a 200 day moving average of $192.34.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the prior year, the firm posted $3.16 earnings per share. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts forecast that The PNC Financial Services Group will post 15.37 earnings per share for the current year.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $171.15, for a total value of $212,568.30. Following the transaction, the chief executive officer now directly owns 567,299 shares in the company, valued at approximately $97,093,223.85. This represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have sold 12,420 shares of company stock valued at $2,369,165. 0.42% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PNC. Winch Advisory Services LLC purchased a new position in The PNC Financial Services Group in the 4th quarter worth $25,000. Richardson Financial Services Inc. lifted its stake in shares of The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 140 shares during the last quarter. Albion Financial Group UT purchased a new stake in The PNC Financial Services Group during the 4th quarter valued at about $30,000. Synergy Asset Management LLC bought a new position in The PNC Financial Services Group during the 4th quarter worth approximately $32,000. Finally, Rialto Wealth Management LLC purchased a new position in The PNC Financial Services Group in the 4th quarter worth approximately $32,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

About The PNC Financial Services Group

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.