The PNC Financial Services Group (NYSE:PNC) Now Covered by TD Cowen

Stock analysts at TD Cowen started coverage on shares of The PNC Financial Services Group (NYSE:PNC) in a note issued to investors on Thursday, Marketbeat Ratings reports. The firm set a “buy” rating and a $233.00 price target on the financial services provider’s stock. TD Cowen’s price objective would indicate a potential upside of 29.84% from the company’s current price.

A number of other equities research analysts have also recently commented on the stock. Hsbc Global Res upgraded shares of The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 31st. JPMorgan Chase & Co. cut their price target on The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating for the company in a research note on Thursday, April 3rd. HSBC upgraded The PNC Financial Services Group from a “hold” rating to a “buy” rating and lowered their price objective for the company from $206.00 to $202.00 in a research report on Monday, March 31st. Keefe, Bruyette & Woods decreased their target price on The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 16th. Finally, Morgan Stanley dropped their price target on The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating for the company in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $202.67.

The PNC Financial Services Group Stock Down 0.0%

PNC opened at $179.45 on Thursday. The firm’s 50 day simple moving average is $164.86 and its two-hundred day simple moving average is $186.23. The company has a market capitalization of $70.98 billion, a PE ratio of 13.05, a PEG ratio of 1.55 and a beta of 1.06. The PNC Financial Services Group has a 1-year low of $145.12 and a 1-year high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. As a group, equities analysts forecast that The PNC Financial Services Group will post 15.37 EPS for the current year.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Kieran John Fallon sold 1,492 shares of the firm’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $174.56, for a total transaction of $260,443.52. Following the transaction, the executive vice president now owns 20,490 shares of the company’s stock, valued at approximately $3,576,734.40. This trade represents a 6.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $150.50, for a total transaction of $96,470.50. Following the completion of the sale, the chief executive officer now directly owns 562,291 shares of the company’s stock, valued at $84,624,795.50. The trade was a 0.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,396 shares of company stock worth $2,789,603 in the last three months. Corporate insiders own 0.41% of the company’s stock.

Institutional Trading of The PNC Financial Services Group

A number of hedge funds have recently bought and sold shares of the stock. Mechanics Financial Corp purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter worth $541,000. AssuredPartners Investment Advisors LLC bought a new position in The PNC Financial Services Group in the fourth quarter worth about $739,000. Premier Fund Managers Ltd lifted its position in shares of The PNC Financial Services Group by 38.3% during the fourth quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider’s stock valued at $9,511,000 after buying an additional 13,700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of The PNC Financial Services Group by 25.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock valued at $7,739,000 after buying an additional 8,081 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. grew its position in shares of The PNC Financial Services Group by 2.0% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 156,609 shares of the financial services provider’s stock worth $30,202,000 after buying an additional 3,100 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.