Wolfe Research Reiterates "Peer Perform" Rating for The PNC Financial Services Group (NYSE:PNC)

Wolfe Research restated their peer perform rating on shares of The PNC Financial Services Group (NYSE:PNC - Free Report) in a research report report published on Thursday, Marketbeat reports.

Other research analysts also recently issued reports about the company. Morgan Stanley cut their price objective on The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating for the company in a research report on Wednesday, April 16th. Wells Fargo & Company lowered their target price on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating on the stock in a report on Friday, March 28th. Hsbc Global Res upgraded The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 31st. Keefe, Bruyette & Woods lowered their target price on The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating on the stock in a report on Wednesday, April 16th. Finally, Truist Financial lowered their target price on The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating on the stock in a report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of "Moderate Buy" and a consensus target price of $204.00.

The PNC Financial Services Group Price Performance

Shares of PNC stock traded down $0.61 during mid-day trading on Thursday, reaching $195.10. The stock had a trading volume of 1,863,484 shares, compared to its average volume of 2,109,370. The company has a market cap of $77.18 billion, a P/E ratio of 13.78, a price-to-earnings-growth ratio of 1.65 and a beta of 1.07. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.08. The PNC Financial Services Group has a 12-month low of $145.12 and a 12-month high of $216.26. The business has a 50-day simple moving average of $174.39 and a 200 day simple moving average of $180.13.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.04. The firm had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. On average, sell-side analysts anticipate that The PNC Financial Services Group will post 15.37 earnings per share for the current year.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Kieran John Fallon sold 1,492 shares of The PNC Financial Services Group stock in a transaction on Monday, May 12th. The shares were sold at an average price of $174.56, for a total value of $260,443.52. Following the transaction, the executive vice president owned 20,490 shares in the company, valued at $3,576,734.40. This trade represents a 6.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $166.79, for a total value of $207,153.18. Following the sale, the chief executive officer owned 557,363 shares of the company's stock, valued at approximately $92,962,574.77. The trade was a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,428 shares of company stock valued at $1,882,322. Insiders own 0.41% of the company's stock.

Institutional Investors Weigh In On The PNC Financial Services Group

A number of institutional investors have recently added to or reduced their stakes in the company. Fiduciary Financial Group LLC grew its position in The PNC Financial Services Group by 14.1% during the second quarter. Fiduciary Financial Group LLC now owns 2,150 shares of the financial services provider's stock valued at $414,000 after acquiring an additional 266 shares during the period. Michael S. Ryan Inc. grew its position in The PNC Financial Services Group by 9.0% during the second quarter. Michael S. Ryan Inc. now owns 2,169 shares of the financial services provider's stock valued at $404,000 after acquiring an additional 180 shares during the period. Kera Capital Partners Inc. purchased a new stake in The PNC Financial Services Group during the second quarter valued at about $591,000. AG2R LA Mondiale Gestion D Actifs acquired a new stake in shares of The PNC Financial Services Group in the first quarter worth $2,580,000. Finally, Swedbank AB increased its position in shares of The PNC Financial Services Group by 1.2% in the first quarter. Swedbank AB now owns 212,796 shares of the financial services provider's stock worth $37,403,000 after acquiring an additional 2,549 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.

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.