The PNC Financial Services Group (NYSE:PNC) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

The PNC Financial Services Group (NYSE:PNC) had its price objective boosted by research analysts at The Goldman Sachs Group from $190.00 to $210.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. The Goldman Sachs Group’s target price would suggest a potential upside of 0.66% from the company’s previous close.

A number of other brokerages also recently issued reports on PNC. Keefe, Bruyette & Woods increased their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a report on Wednesday, October 16th. Stephens increased their target price on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research note 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. Wells Fargo & Company upped their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Barclays raised their price objective on The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $195.84.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $208.63 on Friday. The company has a market capitalization of $82.78 billion, a P/E ratio of 17.64, a P/E/G ratio of 2.18 and a beta of 1.15. The business’s 50-day moving average is $196.62 and its two-hundred day moving average is $178.41. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group has a fifty-two week low of $139.19 and a fifty-two week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same period last year, the business earned $3.60 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 3.8% on a year-over-year basis. Research analysts predict that The PNC Financial Services Group will post 13.45 earnings per share for the current year.

Insider Buying and Selling 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 dated Friday, November 29th. The shares were sold at an average price of $216.01, for a total value of $268,284.42. Following the completion of the sale, the chief executive officer now owns 533,765 shares of the company’s stock, valued at approximately $115,298,577.65. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the firm’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 sale, the director now owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,788 shares of company stock worth $5,613,814. Insiders own 0.42% of the company’s stock.

Institutional Trading of The PNC Financial Services Group

Several hedge funds have recently made changes to their positions in the company. ORG Partners LLC increased its position in shares of The PNC Financial Services Group by 203.7% during the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 110 shares during the last quarter. Valley Wealth Managers Inc. increased its position in shares of The PNC Financial Services Group by 20,000.0% during the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 200 shares during the last quarter. Y.D. More Investments Ltd acquired a new stake in shares of The PNC Financial Services Group during the second quarter valued at about $33,000. GPS Wealth Strategies Group LLC purchased a new stake in shares of The PNC Financial Services Group in the 2nd quarter valued at approximately $38,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of The PNC Financial Services Group in the 3rd quarter worth approximately $51,000. Hedge funds and other institutional investors 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.