Citigroup Forecasts Strong Price Appreciation for The PNC Financial Services Group (NYSE:PNC) Stock

The PNC Financial Services Group (NYSE:PNC) had its price objective increased by investment analysts at Citigroup from $200.00 to $235.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Citigroup’s target price indicates a potential upside of 9.68% from the company’s current price.

Several other equities analysts have also recently issued reports on the company. Morgan Stanley lifted their price objective on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a report on Wednesday, October 16th. Barclays lifted their price objective on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Stephens upped their price objective on The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company upped their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their price objective for the company from $185.00 to $200.00 in a research report on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $189.15.

The PNC Financial Services Group Stock Up 0.8 %

PNC opened at $214.26 on Monday. 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 business has a 50 day simple moving average of $192.29 and a 200-day simple moving average of $175.62. The stock has a market capitalization of $85.01 billion, a P/E ratio of 18.11, a P/E/G ratio of 2.20 and a beta of 1.13. The PNC Financial Services Group has a 12 month low of $127.49 and a 12 month high of $214.81.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.30 by $0.19. The firm had revenue of $5.43 billion during the quarter, compared to analysts’ expectations 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 PNC Financial Services Group’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $3.60 earnings per share. On average, equities analysts anticipate that The PNC Financial Services Group will post 13.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the sale, the director now directly owns 38,649 shares in the company, valued at $8,119,768.41. This represents a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $181.35, for a total value of $225,236.70. Following the sale, the chief executive officer now owns 548,491 shares of the company’s stock, valued at $99,468,842.85. This represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,788 shares of company stock worth $5,573,027 over the last three months. 0.42% of the stock is owned by insiders.

Institutional Investors Weigh In On The PNC Financial Services Group

Large investors have recently modified their holdings of the stock. Bank & Trust Co acquired a new stake in shares of The PNC Financial Services Group in the second quarter valued at about $26,000. ORG Partners LLC grew its stake in shares of The PNC Financial Services Group by 203.7% in the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after buying an additional 110 shares in the last quarter. LRI Investments LLC purchased a new position in The PNC Financial Services Group in the first quarter valued at about $28,000. Y.D. More Investments Ltd purchased a new position in The PNC Financial Services Group in the second quarter valued at about $33,000. Finally, Valley Wealth Managers Inc. boosted its holdings in The PNC Financial Services Group by 20,000.0% in the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Company Profile

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.