Citigroup Forecasts Strong Price Appreciation for The PNC Financial Services Group (NYSE:PNC) Stock

Key Points

• Citigroup has raised its price target for The PNC Financial Services Group from $217.00 to $230.00, indicating a potential upside of 13.04% from the stock's previous close.
• Multiple research firms have shown optimism, with Piper Sandler and Oppenheimer also increasing their price targets and issuing ratings of "neutral" and "outperform," respectively.
• The PNC Financial Services Group reported a quarterly EPS of $3.85, exceeding analysts' expectations, with revenues up 4.6% year-over-year.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) had its price objective increased by stock analysts at Citigroup from $217.00 to $230.00 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 objective suggests a potential upside of 13.04% from the stock's previous close.

A number of other research firms have also recently commented on PNC. Piper Sandler boosted their price target on shares of The PNC Financial Services Group from $200.00 to $211.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 10th. Wolfe Research reissued a "peer perform" rating on shares of The PNC Financial Services Group in a research note on Thursday, July 3rd. Oppenheimer raised shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $238.00 price target for the company in a research note on Wednesday, July 30th. Keefe, Bruyette & Woods raised shares of The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and boosted their price target for the stock from $185.00 to $212.00 in a research note on Wednesday, July 9th. Finally, Raymond James Financial boosted their price target on shares of The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an "outperform" rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $214.67.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $203.48 on Tuesday. The company has a 50 day moving average of $197.66 and a 200 day moving average of $181.27. The stock has a market cap of $80.13 billion, a P/E ratio of 13.92, a P/E/G ratio of 1.52 and a beta of 1.11. The PNC Financial Services Group has a 12 month low of $145.12 and a 12 month high of $216.26. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.99.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, beating the consensus estimate of $3.56 by $0.29. The company had revenue of $3.01 billion during the quarter, compared to analysts' expectations of $5.61 billion. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The PNC Financial Services Group's revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.39 earnings per share. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, sell-side analysts forecast that The PNC Financial Services Group will post 15.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Caldwell Trust Co bought a new position in shares of The PNC Financial Services Group in the 2nd quarter worth about $505,000. SevenBridge Financial Group LLC increased its stake in shares of The PNC Financial Services Group by 8.9% in the 2nd quarter. SevenBridge Financial Group LLC now owns 28,827 shares of the financial services provider's stock worth $5,513,000 after acquiring an additional 2,349 shares in the last quarter. Osaic Holdings Inc. increased its stake in shares of The PNC Financial Services Group by 34.5% in the 2nd quarter. Osaic Holdings Inc. now owns 151,930 shares of the financial services provider's stock worth $28,279,000 after acquiring an additional 39,002 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of The PNC Financial Services Group by 56.4% in the 2nd quarter. Thrivent Financial for Lutherans now owns 41,035 shares of the financial services provider's stock worth $7,648,000 after acquiring an additional 14,791 shares in the last quarter. Finally, MASTERINVEST Kapitalanlage GmbH bought a new position in shares of The PNC Financial Services Group in the 2nd quarter worth about $251,000. 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.

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