The PNC Financial Services Group, Inc (NYSE:PNC) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• PNC Financial Services has a consensus analyst rating of "Moderate Buy" from 19 covering firms, with 15 buy ratings and an average 12-month price target of about $252.71.
• Recent analyst updates were mostly positive, including higher price targets from Barclays, Morgan Stanley, Truist, and JPMorgan, though some firms kept more neutral ratings.
• PNC reported better-than-expected quarterly earnings, posting EPS of $4.32 versus estimates of $3.92, while revenue rose 13.1% year over year to $6.17 billion.

Shares of The PNC Financial Services Group, Inc (NYSE:PNC - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the nineteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, fifteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $252.7059.

A number of research firms have recently weighed in on PNC. Barclays upped their price target on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the stock an "overweight" rating in a research note on Thursday, April 16th. Morgan Stanley raised their price objective 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 note on Monday, June 29th. Truist Financial boosted their price objective on shares of The PNC Financial Services Group from $245.00 to $257.00 and gave the stock a "hold" rating in a report on Friday, June 26th. Weiss Ratings restated a "buy (b-)" rating on shares of The PNC Financial Services Group in a research report on Friday, March 27th. Finally, JPMorgan Chase & Co. increased their target price on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the company an "overweight" rating in a report on Thursday, April 30th.

Insider Buying and Selling

In related news, EVP Stephanie Novosel sold 1,800 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the transaction, the executive vice president directly owned 3,107 shares of the company's stock, valued at $710,664.11. This trade represents a 36.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Andrew T. Feldstein sold 45,000 shares of the business's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total value of $9,925,650.00. Following the sale, the director owned 10,749 shares in the company, valued at approximately $2,370,906.93. The trade was a 80.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 48,300 shares of company stock worth $10,694,574 in the last quarter. Company insiders own 0.38% of the company's stock.

Institutional Trading of The PNC Financial Services Group

Large investors have recently modified their holdings of the business. Monetary Solutions Ltd purchased a new stake in The PNC Financial Services Group in the 4th quarter valued at approximately $25,000. Quarry LP acquired a new stake in The PNC Financial Services Group during the 3rd quarter valued at $25,000. Modus Advisors LLC purchased a new position in The PNC Financial Services Group during the fourth quarter worth $29,000. Financial Life Planners acquired a new position in shares of The PNC Financial Services Group in the first quarter worth $31,000. Finally, Wilkerson Advisory Group LLC raised its holdings in shares of The PNC Financial Services Group by 93.4% in the first quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider's stock worth $31,000 after acquiring an additional 71 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $249.13 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The stock has a 50 day simple moving average of $226.89 and a 200-day simple moving average of $220.62. The company has a market cap of $100.04 billion, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 1.02 and a beta of 0.91. The PNC Financial Services Group has a 12-month low of $176.88 and a 12-month high of $254.00.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, beating analysts' consensus estimates of $3.92 by $0.40. The firm had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The company's revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.51 earnings per share. On average, equities analysts forecast that The PNC Financial Services Group will post 18.82 EPS for the current year.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC's core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.

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