The PNC Financial Services Group (NYSE:PNC) Price Target Cut to $250.00 by Analysts at Stephens

Key Points

• Stephens lowered PNC’s price target to $250 from $265 while maintaining an “overweight” rating, implying roughly 15.7% upside from the prior close.
• Analyst sentiment remains favorable overall: 17 analysts rate the stock Buy and seven rate it Hold, producing a consensus “Moderate Buy” rating and a $266.13 average price target.
• PNC reported quarterly EPS of $5.09, beating estimates of $4.91, while revenue reached $6.60 billion and increased 10.9% year over year. Shares closed down 0.6% at $216.15.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) had its price target decreased by equities research analysts at Stephens from $265.00 to $250.00 in a research note issued to investors on Monday. The brokerage currently has an "overweight" rating on the financial services provider's stock. Stephens' target price points to a potential upside of 15.66% from the stock's previous close.

Other analysts have also issued reports about the stock. Weiss Ratings restated a "buy (b)" rating on shares of The PNC Financial Services Group in a research report on Tuesday, October 13th. Truist Financial dropped their target price on The PNC Financial Services Group from $252.00 to $248.00 and set a "hold" rating for the company in a report on Monday. TD Cowen reduced their price target on The PNC Financial Services Group from $245.00 to $240.00 and set a "hold" rating on the stock in a research report on Friday. Deutsche Bank Aktiengesellschaft cut The PNC Financial Services Group from a "buy" rating to a "hold" rating and lifted their price target for the stock from $230.00 to $265.00 in a research note on Thursday, July 23rd. Finally, Royal Bank Of Canada lowered their price objective on The PNC Financial Services Group from $273.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday. Seventeen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $266.13.

The PNC Financial Services Group Trading Down 0.6%

Shares of The PNC Financial Services Group stock traded down $1.24 during trading on Monday, reaching $216.15. The company's stock had a trading volume of 1,566,480 shares, compared to its average volume of 2,216,299. The PNC Financial Services Group has a 52-week low of $177.08 and a 52-week high of $258.96. The company has a market cap of $86.23 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 1.14 and a beta of 0.94. The firm's 50-day moving average is $235.33 and its two-hundred day moving average is $233.29. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.23.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its earnings results on Thursday, October 15th. The financial services provider reported $5.09 EPS for the quarter, topping analysts' consensus estimates of $4.91 by $0.18. The company had revenue of $6.60 billion for the quarter, compared to analysts' expectations of $6.61 billion. The PNC Financial Services Group had a net margin of 21.83% and a return on equity of 12.82%. The firm's revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the company earned $4.35 EPS. On average, sell-side analysts anticipate that The PNC Financial Services Group will post 19.22 earnings per share for the current year.

Insider Activity

In other The PNC Financial Services Group news, EVP Stacy Juchno sold 3,354 shares of the business's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $255.84, for a total value of $858,087.36. Following the transaction, the executive vice president owned 18,800 shares in the company, valued at approximately $4,809,792. The trade was a 15.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.38% of the company's stock.

Institutional Trading of The PNC Financial Services Group

A number of institutional investors have recently modified their holdings of the company. Kaufman Rossin Wealth LLC lifted its holdings in The PNC Financial Services Group by 16.8% in the 3rd quarter. Kaufman Rossin Wealth LLC now owns 1,586 shares of the financial services provider's stock worth $353,000 after buying an additional 228 shares during the period. Optivise Advisory Services LLC grew its position in shares of The PNC Financial Services Group by 10.4% in the 3rd quarter. Optivise Advisory Services LLC now owns 1,057 shares of the financial services provider's stock worth $235,000 after buying an additional 100 shares during the last quarter. V Square Quantitative Management LLC increased its stake in shares of The PNC Financial Services Group by 4.8% during the third quarter. V Square Quantitative Management LLC now owns 9,994 shares of the financial services provider's stock valued at $2,221,000 after buying an additional 459 shares during the period. YANKCOM Partnership increased its stake in shares of The PNC Financial Services Group by 4.1% during the third quarter. YANKCOM Partnership now owns 3,091 shares of the financial services provider's stock valued at $687,000 after buying an additional 121 shares during the period. Finally, Bangor Savings Bank increased its stake in shares of The PNC Financial Services Group by 1.2% during the third quarter. Bangor Savings Bank now owns 4,436 shares of the financial services provider's stock valued at $986,000 after buying an additional 52 shares during the period. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its principal banking subsidiary, PNC Bank, the company provides banking, lending, investment, and related financial services to individuals, small businesses, corporations, government entities, and institutional clients.

PNC's consumer offerings include checking and savings accounts, credit cards, mortgages, home equity loans, personal lending, and online and mobile banking.

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