The PNC Financial Services Group (NYSE:PNC) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

The PNC Financial Services Group (NYSE:PNC) had its price objective upped by analysts at Wells Fargo & Company from $215.00 to $235.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 13.15% from the stock’s current price.

A number of other research firms have also recently commented on PNC. The Goldman Sachs Group cut their target price on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Barclays upped their price objective on The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods lifted their target price on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. Morgan Stanley upped their price target on shares of 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. Finally, Compass Point lowered shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average price target of $186.96.

The PNC Financial Services Group Stock Down 0.1 %

PNC opened at $207.68 on Friday. The PNC Financial Services Group has a 52 week low of $127.08 and a 52 week high of $214.19. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The firm has a 50-day simple moving average of $188.25 and a two-hundred day simple moving average of $172.80. The company has a market capitalization of $82.40 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 2.21 and a beta of 1.13.

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, topping the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter in the previous year, the business posted $3.60 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 3.8% on a year-over-year basis. Analysts forecast that The PNC Financial Services Group will post 13.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $176.15, for a total transaction of $218,778.30. Following the sale, the chief executive officer now owns 555,943 shares of the company’s stock, valued at approximately $97,929,359.45. This trade 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 can be accessed through this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the transaction, the director now directly owns 38,649 shares in the company, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,546 shares of company stock worth $5,277,493. Corporate insiders own 0.42% of the company’s stock.

Institutional Trading of The PNC Financial Services Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in The PNC Financial Services Group by 2.0% during the third quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider’s stock worth $1,541,155,000 after purchasing an additional 166,138 shares in the last quarter. High Falls Advisors Inc purchased a new position in shares of The PNC Financial Services Group during the 3rd quarter worth approximately $370,000. Continuum Advisory LLC lifted its holdings in shares of The PNC Financial Services Group by 115.5% in the 3rd quarter. Continuum Advisory LLC now owns 864 shares of the financial services provider’s stock valued at $160,000 after buying an additional 463 shares during the period. LRI Investments LLC boosted its stake in shares of The PNC Financial Services Group by 171.8% in the third quarter. LRI Investments LLC now owns 4,270 shares of the financial services provider’s stock valued at $789,000 after buying an additional 2,699 shares in the last quarter. Finally, Groupama Asset Managment boosted its stake in shares of The PNC Financial Services Group by 9.8% in the third quarter. Groupama Asset Managment now owns 139,600 shares of the financial services provider’s stock valued at $25,805,000 after buying an additional 12,437 shares in the last quarter. 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.