The PNC Financial Services Group (NYSE:PNC) Stock Price Target Cut by UBS Group

Key Points

• UBS Group lowered PNC’s price target from $288 to $286 but maintained a “buy” rating, implying approximately 29.94% upside from the prior close.
• Analyst sentiment remains favorable, with PNC holding a consensus “Moderate Buy” rating and an average price target of $268.35.
• PNC reported quarterly adjusted EPS of $4.85, exceeding the $4.46 consensus estimate, while revenue of $6.88 billion also surpassed expectations and rose 21.4% year over year.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) had its price objective lowered by equities research analysts at UBS Group from $288.00 to $286.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a "buy" rating on the financial services provider's stock. UBS Group's target price points to a potential upside of 29.94% from the company's previous close.

A number of other equities analysts have also commented on the stock. Morgan Stanley boosted their price target 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 report on Monday, June 29th. Oppenheimer lifted their target price on shares of The PNC Financial Services Group from $271.00 to $281.00 and gave the company an "outperform" rating in a research note on Thursday, July 16th. Argus boosted their target price on The PNC Financial Services Group from $250.00 to $280.00 and gave the stock a "buy" rating in a report on Thursday, July 16th. The Goldman Sachs Group decreased their price target on The PNC Financial Services Group from $281.00 to $250.00 and set a "neutral" rating on the stock in a research report on Monday. Finally, Stephens raised their price target on The PNC Financial Services Group from $265.00 to $275.00 and gave the company an "overweight" rating in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of "Moderate Buy" and an average price target of $268.35.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock traded down $0.17 during mid-day trading on Monday, hitting $220.11. 1,904,833 shares of the company were exchanged, compared to its average volume of 2,209,804. The company has a market capitalization of $87.81 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 1.10 and a beta of 0.94. The business has a fifty day moving average of $241.35 and a 200 day moving average of $232.34. The PNC Financial Services Group has a 1-year low of $176.88 and a 1-year high of $258.96. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 1.34.

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

Insider Activity at The PNC Financial Services Group

In other news, EVP Stacy Juchno sold 3,354 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $255.84, for a total transaction of $858,087.36. Following the sale, the executive vice president directly owned 18,800 shares of the company's stock, valued at $4,809,792. This represents a 15.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.38% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of The PNC Financial Services Group during the second quarter worth $7,921,455,000. State Street Corp increased its position in The PNC Financial Services Group by 4.3% in the second quarter. State Street Corp now owns 18,434,446 shares of the financial services provider's stock worth $4,538,929,000 after purchasing an additional 765,097 shares during the period. Bank of America Corp DE acquired a new stake in The PNC Financial Services Group in the second quarter worth about $2,102,631,000. Deutsche Bank AG bought a new stake in The PNC Financial Services Group during the 2nd quarter worth about $1,054,189,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in The PNC Financial Services Group by 1.1% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,607,786 shares of the financial services provider's stock worth $888,309,000 after purchasing an additional 39,112 shares during the last quarter. Institutional investors and hedge funds 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 its banking and financial services businesses, PNC serves consumers, small and mid-sized businesses, corporations, government entities and institutional clients across the United States.

PNC's principal activities include retail banking, corporate and institutional banking, and asset management. Its products and services include deposit accounts, consumer and business lending, mortgages, credit cards, treasury management, investment banking, commercial finance, wealth management and investment advisory services.

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