The PNC Financial Services Group (NYSE:PNC) Price Target Raised to $283.00

Key Points

• HSBC raised PNC’s price target to $283 from $275 and maintained a “buy” rating, implying 25.91% potential upside from the previous close.
• Analyst sentiment remains favorable, with 18 buy or strong-buy ratings and four holds; the consensus target price is $268.63, reflecting a “Moderate Buy” rating.
• PNC recently exceeded quarterly expectations, reporting $4.85 earnings per share versus the $4.46 estimate and $6.88 billion in revenue versus the $6.51 billion consensus.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) had its price target increased by equities researchers at HSBC from $275.00 to $283.00 in a report released on Monday, MarketBeat reports. The brokerage currently has a "buy" rating on the financial services provider's stock. HSBC's target price would suggest a potential upside of 25.91% from the company's previous close.

Several other equities analysts have also issued reports on PNC. Weiss Ratings reaffirmed a "buy (b)" rating on shares of The PNC Financial Services Group in a report on Wednesday, July 15th. Truist Financial upped their target price on The PNC Financial Services Group from $257.00 to $264.00 and gave the company a "hold" rating in a report on Thursday, July 16th. Barclays upped their target price on The PNC Financial Services Group from $277.00 to $284.00 and gave the company an "overweight" rating in a report on Thursday, July 16th. Robert W. Baird upped their target price on The PNC Financial Services Group from $250.00 to $280.00 and gave the company an "outperform" rating in a report on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft lowered The PNC Financial Services Group from a "buy" rating to a "hold" rating and set a $265.00 target price for the company. in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $268.63.

The PNC Financial Services Group Stock Down 0.4%

Shares of The PNC Financial Services Group stock traded down $0.88 on Monday, hitting $224.76. The company had a trading volume of 71,778 shares, compared to its average volume of 2,202,546. The stock has a market capitalization of $89.67 billion, a price-to-earnings ratio of 12.37, a P/E/G ratio of 1.13 and a beta of 0.90. The PNC Financial Services Group has a 1 year low of $176.88 and a 1 year high of $258.96. The stock has a 50 day moving average of $244.81 and a 200-day moving average of $231.57. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.84 and a current ratio of 0.85.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $4.85 EPS for the quarter, topping the consensus estimate of $4.46 by $0.39. The firm had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.51 billion. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The company's quarterly revenue was up 21.4% compared to the same quarter last year. During the same period in the prior year, the business posted $3.85 earnings per share. As a group, sell-side analysts forecast that The PNC Financial Services Group will post 19.23 earnings per share for the current year.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Stacy Juchno sold 3,354 shares of the firm's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $255.84, for a total value of $858,087.36. Following the completion of the transaction, the executive vice president directly owned 18,800 shares of the company's stock, valued at $4,809,792. This trade represents a 15.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.38% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On The PNC Financial Services Group

Large investors have recently added to or reduced their stakes in the business. Monetary Solutions Ltd purchased a new position in shares of The PNC Financial Services Group in the fourth quarter worth about $25,000. Highland Investment Advisors LLC purchased a new position in shares of The PNC Financial Services Group in the second quarter worth about $27,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of The PNC Financial Services Group in the second quarter worth about $28,000. Modus Advisors LLC purchased a new position in shares of The PNC Financial Services Group in the fourth quarter worth about $29,000. Finally, Financial Life Planners purchased a new position in shares of The PNC Financial Services Group in the first quarter worth about $31,000. 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. Through PNC Bank and its other businesses, the company provides banking, lending, investment, and financial advisory services to individuals, small businesses, corporations, government entities, and institutional clients.

PNC's offerings include checking and savings accounts, consumer and commercial loans, residential mortgages, credit cards, treasury management, payment processing, and corporate banking services.