The PNC Financial Services Group (NYSE:PNC) Rating Lowered to "Hold" at Deutsche Bank Aktiengesellschaft

Key Points

• Deutsche Bank downgraded PNC from “buy” to “hold” while keeping a $265 price target, implying modest upside from the prior close.
• Other analysts remain largely bullish: several firms recently raised price targets and kept buy or overweight ratings, and MarketBeat shows a Moderate Buy consensus with an average target of about $265.48.
• PNC reported better-than-expected quarterly results, with EPS of $4.85 versus estimates of $4.46 and revenue of $6.66 billion, up 21.4% year over year.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) was downgraded by equities researchers at Deutsche Bank Aktiengesellschaft from a "buy" rating to a "hold" rating in a report released on Thursday, Marketbeat reports. They presently have a $265.00 target price on the financial services provider's stock. Deutsche Bank Aktiengesellschaft's price target points to a potential upside of 4.83% from the company's previous close.

PNC has been the topic of a number of other research reports. UBS Group lifted their price target on shares of The PNC Financial Services Group from $263.00 to $288.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Robert W. Baird increased their target price on The PNC Financial Services Group from $250.00 to $280.00 and gave the stock an "outperform" rating in a research report on Thursday, July 16th. Barclays lifted their target price on The PNC Financial Services Group from $277.00 to $284.00 and gave the company an "overweight" rating in a report on Thursday, July 16th. JPMorgan Chase & Co. boosted their price target on The PNC Financial Services Group from $238.00 to $264.50 and gave the company an "overweight" rating in a research report on Monday, July 6th. Finally, Truist Financial upped their price target on The PNC Financial Services Group from $257.00 to $264.00 and gave the stock a "hold" rating in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $265.48.

The PNC Financial Services Group Trading Up 1.0%

NYSE PNC opened at $252.79 on Thursday. The company has a market cap of $101.51 billion, a P/E ratio of 13.91, a P/E/G ratio of 1.00 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 $256.49. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.85 and a quick ratio of 0.84. The company has a 50-day moving average of $235.44 and a 200-day moving average of $224.42.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.46 by $0.39. The PNC Financial Services Group had a net margin of 21.41% and a return on equity of 12.48%. The firm had revenue of $6.66 billion during the quarter, compared to the consensus estimate of $6.51 billion. During the same period in the previous year, the firm earned $3.85 earnings per share. The PNC Financial Services Group's revenue was up 21.4% compared to the same quarter last year. As a group, equities analysts predict that The PNC Financial Services Group will post 19.14 earnings per share for the current year.

Insider Activity

In related news, EVP Michael Duane Thomas sold 1,500 shares of the firm's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $238.14, for a total transaction of $357,210.00. Following the completion of the sale, the executive vice president directly owned 5,059 shares of the company's stock, valued at approximately $1,204,750.26. This trade represents a 22.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the sale, the director directly owned 10,749 shares in the company, valued at $2,370,906.93. This trade represents a 80.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 48,300 shares of company stock worth $10,694,574 over the last 90 days. 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. Brighton Jones LLC grew its stake in The PNC Financial Services Group by 32.2% during the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider's stock valued at $779,000 after purchasing an additional 984 shares in the last quarter. Empowered Funds LLC raised its position in shares of The PNC Financial Services Group by 2.1% in the 1st quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider's stock valued at $1,452,000 after purchasing an additional 170 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in shares of The PNC Financial Services Group by 50.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider's stock valued at $807,000 after buying an additional 1,449 shares during the last quarter. Treasurer of the State of North Carolina grew its position in shares of The PNC Financial Services Group by 1.5% during the second quarter. Treasurer of the State of North Carolina now owns 184,579 shares of the financial services provider's stock worth $34,409,000 after buying an additional 2,808 shares in the last quarter. Finally, Diversify Advisory Services LLC acquired a new stake in shares of The PNC Financial Services Group during the second quarter worth approximately $482,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

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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