The PNC Financial Services Group (NYSE:PNC) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

The PNC Financial Services Group (NYSE:PNC) had its price target boosted by equities research analysts at JPMorgan Chase & Co. from $228.50 to $251.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 4.18% from the stock’s previous close.

Several other research firms also recently commented on PNC. Oppenheimer raised their target price on The PNC Financial Services Group from $268.00 to $284.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. TD Cowen lifted their price objective on The PNC Financial Services Group from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Truist Financial increased their target price on The PNC Financial Services Group from $210.00 to $229.00 and gave the stock a “hold” rating in a report on Thursday, December 18th. Cfra Research upgraded The PNC Financial Services Group to a “moderate buy” rating in a research note on Thursday, October 16th. Finally, Keefe, Bruyette & Woods upped their price target on shares of The PNC Financial Services Group from $228.00 to $247.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 20th. Fifteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $234.44.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock traded down $1.56 during midday trading on Monday, hitting $240.92. The company had a trading volume of 1,355,833 shares, compared to its average volume of 3,031,268. The PNC Financial Services Group has a 1-year low of $145.12 and a 1-year high of $243.94. The business’s 50 day simple moving average is $214.89 and its two-hundred day simple moving average is $200.55. The stock has a market cap of $94.48 billion, a PE ratio of 14.53, a P/E/G ratio of 1.01 and a beta of 0.99. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, beating analysts’ consensus estimates of $4.23 by $0.65. The firm had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $5.90 billion. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The business’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.77 EPS. As a group, equities analysts predict that The PNC Financial Services Group will post 15.37 EPS for the current fiscal year.

Institutional Investors Weigh In On The PNC Financial Services Group

Large investors have recently made changes to their positions in the stock. Brighton Jones LLC raised its stake in shares of The PNC Financial Services Group by 32.2% in the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock valued at $779,000 after purchasing an additional 984 shares during the period. Empowered Funds LLC raised its position in The PNC Financial Services Group by 2.1% in the 1st quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock valued at $1,452,000 after buying an additional 170 shares during the last quarter. Sivia Capital Partners LLC boosted its position in The PNC Financial Services Group by 50.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider’s stock worth $807,000 after acquiring an additional 1,449 shares during the last quarter. IFP Advisors Inc grew its stake in shares of The PNC Financial Services Group by 8.5% during the 2nd quarter. IFP Advisors Inc now owns 5,328 shares of the financial services provider’s stock worth $1,014,000 after acquiring an additional 416 shares in the last quarter. Finally, PDS Planning Inc raised its holdings in shares of The PNC Financial Services Group by 11.8% in the second quarter. PDS Planning Inc now owns 1,872 shares of the financial services provider’s stock valued at $349,000 after purchasing an additional 198 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.