Wells Fargo & Company Cuts The PNC Financial Services Group (NYSE:PNC) Price Target to $230.00

The PNC Financial Services Group (NYSE:PNC) had its price objective lowered by research analysts at Wells Fargo & Company from $235.00 to $230.00 in a report released on Friday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 32.88% from the stock’s previous close.

Several other research firms have also recently weighed in on PNC. Truist Financial increased 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. Stephens restated an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a report on Friday, January 17th. Barclays upped their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Citigroup lowered their target price on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a research note on Monday. Finally, Compass Point upped their price target on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Two equities research 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $201.35.

The PNC Financial Services Group Stock Down 1.1 %

PNC traded down $1.88 during trading on Friday, hitting $173.09. The company had a trading volume of 98,755 shares, compared to its average volume of 1,764,108. The company has a quick ratio of 0.81, a current 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 market capitalization of $68.50 billion, a PE ratio of 12.60, a PEG ratio of 1.55 and a beta of 1.13. The firm’s 50-day moving average price is $188.44 and its 200 day moving average price is $192.09.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share 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 company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the previous year, the business earned $3.16 EPS. The PNC Financial Services Group’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, equities analysts expect 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 other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $172.00, for a total value of $213,624.00. Following the transaction, the chief executive officer now directly owns 566,057 shares in the company, valued at $97,361,804. The trade was a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 12,420 shares of company stock worth $2,342,313 in the last ninety days. Company insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On The PNC Financial Services Group

Hedge funds have recently modified their holdings of the stock. Winch Advisory Services LLC purchased a new stake in The PNC Financial Services Group in the fourth quarter worth $25,000. Richardson Financial Services Inc. grew its stake in shares of The PNC Financial Services Group by 2,333.3% during the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 140 shares during the period. Albion Financial Group UT purchased a new stake in The PNC Financial Services Group in the 4th quarter worth about $30,000. Synergy Asset Management LLC bought a new stake in The PNC Financial Services Group in the 4th quarter valued at about $32,000. Finally, Rialto Wealth Management LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at about $32,000. Institutional investors own 83.53% of the company’s stock.

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.