Piper Sandler Raises The PNC Financial Services Group (NYSE:PNC) Price Target to $220.00

The PNC Financial Services Group (NYSE:PNC) had its price objective boosted by investment analysts at Piper Sandler from $200.00 to $220.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price objective would indicate a potential upside of 5.82% from the company’s previous close.

A number of other research firms have also recently weighed in on PNC. Wells Fargo & Company boosted their target price on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. The Goldman Sachs Group reduced their price objective on shares of 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. Morgan Stanley boosted their price objective on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 16th. Citigroup boosted their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, Compass Point cut shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $193.96.

The PNC Financial Services Group Stock Down 0.5 %

Shares of PNC opened at $207.91 on Tuesday. The PNC Financial Services Group has a one year low of $138.46 and a one year high of $216.26. The company has a market cap of $82.50 billion, a P/E ratio of 17.57, a P/E/G ratio of 2.21 and a beta of 1.15. 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 firm has a 50 day simple moving average of $195.60 and a two-hundred day simple moving average of $177.70.

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

Insider Activity

In related news, Director Martin Pfinsgraff sold 859 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the sale, the director now owns 915 shares in the company, valued at $170,299.80. This represents a 48.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $183.74, for a total transaction of $228,205.08. Following the completion of the sale, the chief executive officer now owns 549,733 shares in the company, valued at $101,007,941.42. This represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,788 shares of company stock worth $5,613,814. Company insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On The PNC Financial Services Group

A number of institutional investors and hedge funds have recently made changes to their positions in PNC. ORG Partners LLC lifted its stake in The PNC Financial Services Group by 203.7% in 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 in the last quarter. Y.D. More Investments Ltd purchased a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth approximately $33,000. Valley Wealth Managers Inc. lifted its position in shares of The PNC Financial Services Group by 20,000.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after buying an additional 200 shares during the last quarter. GPS Wealth Strategies Group LLC purchased a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth approximately $38,000. Finally, Quarry LP lifted its position in shares of The PNC Financial Services Group by 141.7% during the 2nd quarter. Quarry LP now owns 290 shares of the financial services provider’s stock worth $45,000 after buying an additional 170 shares during the last quarter. Institutional investors and hedge funds 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.