Stephens Reaffirms “Equal Weight” Rating for The PNC Financial Services Group (NYSE:PNC)

The PNC Financial Services Group (NYSE:PNC)‘s stock had its “equal weight” rating reiterated by Stephens in a report issued on Friday,Benzinga reports. They currently have a $200.00 price objective on the financial services provider’s stock. Stephens’ price objective indicates a potential downside of 0.23% from the company’s previous close.

Other analysts have also issued reports about the stock. Compass Point upped their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Wells Fargo & Company increased their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Morgan Stanley lifted their price target on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a report on Wednesday, October 16th. Citigroup boosted their target price on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, Piper Sandler increased their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus target price of $203.35.

The PNC Financial Services Group Trading Up 2.0 %

NYSE:PNC traded up $3.93 on Friday, reaching $200.47. 946,127 shares of the company’s stock were exchanged, compared to its average volume of 2,301,760. The business has a fifty day moving average of $201.65 and a 200-day moving average of $186.67. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The PNC Financial Services Group has a 52-week low of $139.69 and a 52-week high of $216.26. The firm has a market capitalization of $79.54 billion, a price-to-earnings ratio of 16.95, a price-to-earnings-growth ratio of 1.77 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business earned $3.16 EPS. As a group, analysts expect that The PNC Financial Services Group will post 13.47 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Martin Pfinsgraff sold 859 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the completion of the sale, the director now owns 915 shares in the company, valued at $170,299.80. This trade represents a 48.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the sale, the director now directly owns 38,649 shares in the company, valued at $8,119,768.41. This represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,030 shares of company stock valued at $5,928,202. 0.42% of the stock is owned by company insiders.

Institutional Trading of The PNC Financial Services Group

Several hedge funds have recently modified their holdings of PNC. Mercer Global Advisors Inc. ADV lifted its holdings in The PNC Financial Services Group by 9.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 29,510 shares of the financial services provider’s stock valued at $4,588,000 after acquiring an additional 2,670 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of The PNC Financial Services Group by 7.3% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,387 shares of the financial services provider’s stock valued at $2,081,000 after purchasing an additional 908 shares during the period. Blair William & Co. IL lifted its stake in shares of The PNC Financial Services Group by 216.5% in the second quarter. Blair William & Co. IL now owns 45,739 shares of the financial services provider’s stock valued at $7,112,000 after purchasing an additional 31,289 shares during the period. XTX Topco Ltd purchased a new stake in The PNC Financial Services Group during the second quarter worth about $512,000. Finally, MQS Management LLC acquired a new position in The PNC Financial Services Group during the second quarter worth about $487,000. 83.53% of the stock is owned by institutional investors and hedge funds.

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.