The PNC Financial Services Group (NYSE:PNC) Coverage Initiated at Truist Financial

Equities researchers at Truist Financial initiated coverage on shares of The PNC Financial Services Group (NYSE:PNC) in a research note issued on Tuesday,Benzinga reports. The brokerage set a “hold” rating and a $215.00 price target on the financial services provider’s stock. Truist Financial’s target price suggests a potential upside of 10.53% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Evercore ISI upped their price target on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Barclays raised their price target on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a report on Monday. Citigroup increased 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 report on Monday, November 25th. Compass Point lifted their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, Morgan Stanley increased their price target on The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $203.29.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $194.51 on Tuesday. The company has a market cap of $77.18 billion, a P/E ratio of 16.44, a P/E/G ratio of 2.11 and a beta of 1.16. The business has a fifty day simple moving average of $201.30 and a 200-day simple moving average of $185.23. The PNC Financial Services Group has a 52 week low of $139.69 and a 52 week high of $216.26. 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 PNC Financial Services Group (NYSE:PNC) last posted its quarterly 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 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 the consensus estimate of $5.39 billion. During the same quarter last year, the firm posted $3.60 earnings per share. The PNC Financial Services Group’s revenue was up 3.8% on a year-over-year basis. Equities research analysts forecast that The PNC Financial Services Group will post 13.45 EPS for the current year.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $190.57, for a total value of $236,687.94. Following the completion of the transaction, the chief executive officer now directly owns 546,007 shares in the company, valued at $104,052,553.99. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the sale, the director now owns 38,649 shares in the company, valued at $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 ninety days, insiders have sold 30,272 shares of company stock valued at $6,155,103. Corporate insiders own 0.42% of the company’s stock.

Institutional Trading of The PNC Financial Services Group

Several hedge funds have recently bought and sold shares of the company. Loomis Sayles & Co. L P increased its stake in shares of The PNC Financial Services Group by 8.7% in the third quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 50 shares during the period. MFA Wealth Advisors LLC increased its position in The PNC Financial Services Group by 5.4% in the 3rd quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider’s stock valued at $200,000 after acquiring an additional 55 shares during the period. Resonant Capital Advisors LLC boosted its position in The PNC Financial Services Group by 0.3% during the 3rd quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider’s stock worth $3,148,000 after acquiring an additional 56 shares during the period. Altman Advisors Inc. grew its stake in shares of The PNC Financial Services Group by 0.5% in the third quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider’s stock worth $1,942,000 after purchasing an additional 56 shares in the last quarter. Finally, Valley Brook Capital Group Inc. increased its holdings in shares of The PNC Financial Services Group by 0.5% during the third quarter. Valley Brook Capital Group Inc. now owns 10,655 shares of the financial services provider’s stock valued at $1,969,000 after purchasing an additional 57 shares during the period. 83.53% of the stock is currently owned by institutional investors.

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.