The PNC Financial Services Group (NYSE:PNC) Price Target Lowered to $208.00 at Truist Financial

The PNC Financial Services Group (NYSE:PNC) had its target price dropped by Truist Financial from $216.00 to $208.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price target would indicate a potential upside of 36.08% from the stock’s current price.

A number of other equities research analysts also recently commented on the company. The Goldman Sachs Group reduced their target price on The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. Stephens reiterated an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Citigroup lowered their target price on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Barclays increased their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Morgan Stanley boosted their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $205.18.

The PNC Financial Services Group Trading Down 5.2 %

NYSE PNC opened at $152.85 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $60.49 billion, a P/E ratio of 11.12, a P/E/G ratio of 1.55 and a beta of 1.04. The PNC Financial Services Group has a 52-week low of $143.52 and a 52-week high of $216.26. The firm has a 50-day moving average price of $184.93 and a 200 day moving average price of $191.73.

The PNC Financial Services Group (NYSE:PNC) last issued 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 business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $3.16 EPS. Equities research analysts expect that The PNC Financial Services Group will post 15.37 EPS for the current year.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $171.15, for a total transaction of $212,568.30. Following the sale, the chief executive officer now owns 567,299 shares in the company, valued at approximately $97,093,223.85. This trade represents a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders sold 12,420 shares of company stock valued at $2,320,739. 0.41% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PNC. Principal Financial Group Inc. increased its stake in The PNC Financial Services Group by 1.0% in the third quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock valued at $420,621,000 after purchasing an additional 22,271 shares during the last quarter. IHT Wealth Management LLC grew its holdings in The PNC Financial Services Group by 39.8% in the 3rd quarter. IHT Wealth Management LLC now owns 4,511 shares of the financial services provider’s stock valued at $826,000 after buying an additional 1,284 shares during the period. Morse Asset Management Inc purchased a new stake in The PNC Financial Services Group in the 3rd quarter valued at about $481,000. Royal London Asset Management Ltd. increased its stake in shares of The PNC Financial Services Group by 2.1% during the 3rd quarter. Royal London Asset Management Ltd. now owns 354,252 shares of the financial services provider’s stock valued at $65,483,000 after acquiring an additional 7,349 shares during the last quarter. Finally, Quarry LP lifted its holdings in shares of The PNC Financial Services Group by 43.8% during the 3rd quarter. Quarry LP now owns 417 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 127 shares during the period. Hedge funds and other institutional investors 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.