The PNC Financial Services Group (NYSE:PNC) Stock Rating Upgraded by Piper Sandler

Key Points

• PNC Financial Services Group's stock rating was upgraded by Piper Sandler from "neutral" to "overweight," with a new price target of $220.00, indicating a potential upside of 15.50%.
• Other analysts, including Wells Fargo and Bank of America, have also raised their price targets for PNC, reflecting a strong sentiment in the market as the stock currently holds an average rating of "Moderate Buy".
• PNC reported an earnings per share (EPS) of $3.85 for the last quarter, exceeding the consensus estimate of $3.56, with quarterly revenue showing a 4.6% increase compared to the same period last year.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) was upgraded by analysts at Piper Sandler from a "neutral" rating to an "overweight" rating in a research note issued on Thursday, Marketbeat Ratings reports. The brokerage presently has a $220.00 price target on the financial services provider's stock, up from their prior price target of $211.00. Piper Sandler's price target points to a potential upside of 15.50% from the stock's current price.

A number of other equities analysts have also recently commented on the stock. Wells Fargo & Company lifted their price target on shares of The PNC Financial Services Group from $230.00 to $240.00 and gave the stock an "overweight" rating in a research note on Friday, October 3rd. Bank of America lifted their price objective on The PNC Financial Services Group from $223.00 to $226.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Truist Financial boosted their price target on shares of The PNC Financial Services Group from $201.00 to $210.00 and gave the company a "hold" rating in a report on Wednesday, September 24th. Stephens restated an "equal weight" rating and set a $200.00 target price on shares of The PNC Financial Services Group in a report on Wednesday, September 10th. Finally, Raymond James Financial boosted their price objective 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, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $218.21.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $190.48 on Thursday. The PNC Financial Services Group has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a fifty day moving average price of $198.67 and a 200 day moving average price of $183.37. The firm has a market cap of $75.01 billion, a price-to-earnings ratio of 13.03, a P/E/G ratio of 1.43 and a beta of 1.10.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released 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 business had revenue of $3.01 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business 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 expect that The PNC Financial Services Group will post 15.37 earnings per share for the current fiscal year.

Institutional Trading of The PNC Financial Services Group

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in The PNC Financial Services Group by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 38,487,074 shares of the financial services provider's stock worth $7,174,760,000 after buying an additional 521,455 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in The PNC Financial Services Group by 26.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 9,502,467 shares of the financial services provider's stock worth $1,670,249,000 after acquiring an additional 1,964,157 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of The PNC Financial Services Group by 1.1% in the second quarter. Geode Capital Management LLC now owns 8,777,313 shares of the financial services provider's stock valued at $1,628,302,000 after purchasing an additional 93,346 shares during the last quarter. Norges Bank purchased a new position in The PNC Financial Services Group during the second quarter worth approximately $1,477,836,000. Finally, Invesco Ltd. boosted its stake in The PNC Financial Services Group by 0.5% during the second quarter. Invesco Ltd. now owns 5,023,790 shares of the financial services provider's stock worth $936,535,000 after buying an additional 26,798 shares during the last quarter. Institutional investors and hedge funds 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.

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