Wells Fargo & Company Increases The PNC Financial Services Group (NYSE:PNC) Price Target to $240.00

Key Points

• Wells Fargo & Company raised the price target for The PNC Financial Services Group from $230.00 to $240.00, indicating a potential upside of 20.50% from the company's previous close.
• PNC stock is currently rated as a "Moderate Buy" with a consensus price target of $217.11, supported by various research analysts who have recently issued updated ratings.
• PNC reported earnings of $3.85 per share for the last quarter, surpassing analyst expectations, and showed a revenue increase of 4.6% year-over-year.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) had its target price raised by research analysts at Wells Fargo & Company from $230.00 to $240.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the financial services provider's stock. Wells Fargo & Company's price target would indicate a potential upside of 20.50% from the company's previous close.

PNC has been the subject of a number of other research reports. Keefe, Bruyette & Woods upgraded shares of The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and lifted their price target for the stock from $185.00 to $212.00 in a research note on Wednesday, July 9th. Stephens reissued an "equal weight" rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday, September 10th. Raymond James Financial lifted their target price on shares of The PNC Financial Services Group from $220.00 to $225.00 and gave the company an "outperform" rating in a report on Friday, September 19th. Piper Sandler boosted their price objective on shares of The PNC Financial Services Group from $200.00 to $211.00 and gave the company a "neutral" rating in a research note on Wednesday, September 10th. Finally, Wall Street Zen raised shares of The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $217.11.

The PNC Financial Services Group Trading Up 0.5%

The PNC Financial Services Group stock traded up $1.02 during midday trading on Friday, hitting $199.18. 130,695 shares of the stock were exchanged, compared to its average volume of 2,188,977. The PNC Financial Services Group has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The stock has a market capitalization of $78.44 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 1.46 and a beta of 1.10. The stock's 50-day simple moving average is $198.61 and its 200 day simple moving average is $182.79. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.99.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share for the quarter, beating analysts' consensus estimates of $3.56 by $0.29. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The business had revenue of $3.01 billion during the quarter, compared to analysts' expectations of $5.61 billion. During the same period last year, the business earned $3.39 earnings per share. The business's revenue for the quarter was up 4.6% on a year-over-year basis. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, equities analysts anticipate that The PNC Financial Services Group will post 15.37 EPS for the current year.

Hedge Funds Weigh In On The PNC Financial Services Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Avior Wealth Management LLC increased its holdings in The PNC Financial Services Group by 4.5% in the 2nd quarter. Avior Wealth Management LLC now owns 1,213 shares of the financial services provider's stock valued at $226,000 after purchasing an additional 52 shares during the last quarter. Rockland Trust Co. increased its holdings in The PNC Financial Services Group by 0.5% in the 2nd quarter. Rockland Trust Co. now owns 10,499 shares of the financial services provider's stock valued at $1,957,000 after purchasing an additional 53 shares during the last quarter. Almanack Investment Partners LLC. increased its holdings in The PNC Financial Services Group by 2.3% in the 2nd quarter. Almanack Investment Partners LLC. now owns 2,433 shares of the financial services provider's stock valued at $454,000 after purchasing an additional 55 shares during the last quarter. Winthrop Capital Management LLC increased its holdings in The PNC Financial Services Group by 2.1% in the 2nd quarter. Winthrop Capital Management LLC now owns 2,619 shares of the financial services provider's stock valued at $488,000 after purchasing an additional 55 shares during the last quarter. Finally, SCS Capital Management LLC increased its holdings in The PNC Financial Services Group by 0.6% in the 2nd quarter. SCS Capital Management LLC now owns 8,527 shares of the financial services provider's stock valued at $1,590,000 after purchasing an additional 55 shares during the last quarter. Hedge funds and other institutional investors 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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