The PNC Financial Services Group (NYSE:PNC) Rating Increased to Market Perform at Keefe, Bruyette & Woods

The PNC Financial Services Group (NYSE:PNC - Get Free Report) was upgraded by investment analysts at Keefe, Bruyette & Woods from an "underperform" rating to a "market perform" rating in a report issued on Wednesday,Benzinga reports. The brokerage currently has a $212.00 target price on the financial services provider's stock, up from their prior target price of $185.00. Keefe, Bruyette & Woods' price target would suggest a potential upside of 6.95% from the stock's current price.

PNC has been the subject of a number of other reports. TD Cowen assumed coverage on shares of The PNC Financial Services Group in a report on Thursday, May 15th. They set a "buy" rating and a $233.00 target price for the company. Raymond James Financial upgraded shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 target price for the company in a report on Tuesday. Citigroup reduced their price target on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating for the company in a research report on Monday, March 24th. Wells Fargo & Company reduced their price target on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Finally, Barclays reduced their price target on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $208.61.

The PNC Financial Services Group Trading Up 1.0%

Shares of NYSE:PNC opened at $198.22 on Wednesday. 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 firm has a market cap of $78.41 billion, a P/E ratio of 14.00, a P/E/G ratio of 1.65 and a beta of 1.07. The company has a 50 day moving average of $177.31 and a 200-day moving average of $180.07. The PNC Financial Services Group has a twelve month low of $145.12 and a twelve month high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a return on equity of 10.95% and a net margin of 17.68%. As a group, analysts anticipate that The PNC Financial Services Group will post 15.37 earnings per share for the current fiscal year.

Insider Activity

In other The PNC Financial Services Group news, Director Martin Pfinsgraff purchased 1,000 shares of the business's stock in a transaction dated Friday, April 25th. The shares were acquired at an average price of $158.22 per share, for a total transaction of $158,220.00. Following the acquisition, the director owned 2,009 shares of the company's stock, valued at $317,863.98. This trade represents a 99.11% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $169.75, for a total transaction of $210,829.50. Following the transaction, the chief executive officer owned 554,879 shares in the company, valued at $94,190,710.25. This represents a 0.22% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,186 shares of company stock worth $1,686,634. 0.41% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Saudi Central Bank bought a new position in The PNC Financial Services Group in the 1st quarter worth $27,000. Cornerstone Planning Group LLC raised its holdings in The PNC Financial Services Group by 50.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock worth $34,000 after acquiring an additional 65 shares during the period. Opal Wealth Advisors LLC bought a new position in The PNC Financial Services Group in the 1st quarter worth $35,000. WPG Advisers LLC bought a new position in The PNC Financial Services Group in the 1st quarter worth $36,000. Finally, REAP Financial Group LLC raised its holdings in The PNC Financial Services Group by 67.2% in the 4th quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider's stock worth $38,000 after acquiring an additional 80 shares during the period. Institutional investors and hedge funds own 83.53% of the company's stock.

The PNC Financial Services Group Company Profile

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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