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

The PNC Financial Services Group (NYSE:PNC) had its price target lifted by research analysts at Citigroup from $255.00 to $280.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Citigroup’s price target would indicate a potential upside of 13.53% from the stock’s previous close.

PNC has been the topic of several other research reports. Royal Bank Of Canada reiterated an “outperform” rating and issued a $235.00 price target on shares of The PNC Financial Services Group in a report on Wednesday, April 15th. Barclays boosted their price target on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Oppenheimer increased their price objective on The PNC Financial Services Group from $268.00 to $271.00 and gave the stock an “outperform” rating in a report on Tuesday. Morgan Stanley raised their target price on shares of The PNC Financial Services Group from $267.00 to $278.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, JPMorgan Chase & Co. lifted their target price on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Moderate Buy” and an average price target of $249.56.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock traded down $0.10 during trading hours on Tuesday, reaching $246.63. The company had a trading volume of 740,812 shares, compared to its average volume of 2,449,653. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82. The PNC Financial Services Group has a one year low of $176.88 and a one year high of $249.01. The firm has a market cap of $99.04 billion, a PE ratio of 14.33, a price-to-earnings-growth ratio of 1.00 and a beta of 0.92. The business has a fifty day simple moving average of $225.07 and a 200 day simple moving average of $219.59.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, topping the consensus estimate of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The firm had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.21 billion. During the same quarter in the prior year, the firm posted $3.51 earnings per share. The business’s quarterly revenue was up 13.1% on a year-over-year basis. On average, analysts anticipate that The PNC Financial Services Group will post 18.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,500 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $238.14, for a total transaction of $357,210.00. Following the sale, the executive vice president directly owned 5,059 shares of the company’s stock, valued at $1,204,750.26. This trade represents a 22.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew T. Feldstein sold 45,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total value of $9,925,650.00. Following the completion of the transaction, the director directly owned 10,749 shares of the company’s stock, valued at approximately $2,370,906.93. This trade represents a 80.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 48,300 shares of company stock worth $10,694,574 over the last three months. 0.38% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On The PNC Financial Services Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Cvfg LLC boosted its position in The PNC Financial Services Group by 2.5% in the 4th quarter. Cvfg LLC now owns 1,753 shares of the financial services provider’s stock valued at $366,000 after buying an additional 43 shares during the last quarter. YANKCOM Partnership increased its position in shares of The PNC Financial Services Group by 1.8% during the fourth quarter. YANKCOM Partnership now owns 2,583 shares of the financial services provider’s stock worth $539,000 after acquiring an additional 46 shares during the last quarter. Westfuller Advisors LLC increased its position in shares of The PNC Financial Services Group by 26.9% during the fourth quarter. Westfuller Advisors LLC now owns 217 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 46 shares during the last quarter. Atom Investors LP lifted its stake in shares of The PNC Financial Services Group by 1.8% in the fourth quarter. Atom Investors LP now owns 2,534 shares of the financial services provider’s stock worth $529,000 after acquiring an additional 46 shares in the last quarter. Finally, Baron Wealth Management LLC boosted its holdings in The PNC Financial Services Group by 3.0% in the first quarter. Baron Wealth Management LLC now owns 1,562 shares of the financial services provider’s stock valued at $325,000 after purchasing an additional 46 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Company Profile

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.