The PNC Financial Services Group (NYSE:PNC) Stock Gets Price Target Boost from HSBC

by · The Cerbat Gem

The PNC Financial Services Group (NYSE:PNC – Get Free Report) had its target price upped by analysts at HSBC from $275.00 to $283.00 in a research report issued to clients and investors on Monday, MarketBeat.com reports. The firm presently has a “buy” rating on the financial services provider’s stock. HSBC’s target price suggests a potential upside of 27.70% from the stock’s current price.

Several other brokerages have also recently commented on PNC. Wells Fargo & Company boosted their price target on shares of The PNC Financial Services Group from $270.00 to $285.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Wednesday, July 15th. Oppenheimer boosted their target price on shares of The PNC Financial Services Group from $271.00 to $281.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. Morgan Stanley increased their target price on shares of The PNC Financial Services Group from $267.00 to $278.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Finally, Barclays raised their target price on shares of The PNC Financial Services Group from $277.00 to $284.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $270.66.

View Our Latest Analysis on PNC

The PNC Financial Services Group Price Performance

NYSE PNC opened at $221.62 on Monday. The PNC Financial Services Group has a 12 month low of $176.88 and a 12 month high of $258.96. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.85 and a quick ratio of 0.84. The firm has a market capitalization of $88.41 billion, a PE ratio of 12.20, a P/E/G ratio of 1.12 and a beta of 0.90. The company’s 50 day simple moving average is $243.71 and its 200 day simple moving average is $231.80.

The PNC Financial Services Group (NYSE:PNC – Get Free Report) last released its earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share for the quarter, topping analysts’ consensus estimates of $4.46 by $0.39. The firm had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.51 billion. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The firm’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.85 earnings per share. As a group, equities research analysts forecast that The PNC Financial Services Group will post 19.23 EPS for the current fiscal year.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Stacy Juchno sold 3,354 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $255.84, for a total transaction of $858,087.36. Following the sale, the executive vice president directly owned 18,800 shares of the company’s stock, valued at $4,809,792. The trade was a 15.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Highland Investment Advisors LLC purchased a new position in The PNC Financial Services Group during the 2nd quarter valued at about $27,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group in the second quarter worth approximately $28,000. Monetary Solutions Ltd acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth approximately $25,000. Archer Investment Corp acquired a new stake in shares of The PNC Financial Services Group during the 2nd quarter valued at $33,000. Finally, Modus Advisors LLC purchased a new position in The PNC Financial Services Group in the fourth quarter valued at about $29,000. 83.53% of the stock is owned by institutional investors and hedge funds.

About The PNC Financial Services Group

(Get Free Report)

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its banking and financial services businesses, PNC serves consumers, small and mid-sized businesses, corporations, government entities and institutional clients across the United States.

PNC’s principal activities include retail banking, corporate and institutional banking, and asset management. Its products and services include deposit accounts, consumer and business lending, mortgages, credit cards, treasury management, investment banking, commercial finance, wealth management and investment advisory services.

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