The PNC Financial Services Group (NYSE:PNC) Stock Price Target Raised at Oppenheimer

by · The Cerbat Gem

The PNC Financial Services Group (NYSE:PNC – Get Free Report) had its price target increased by stock analysts at Oppenheimer from $269.00 to $274.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Oppenheimer‘s target price points to a potential upside of 18.17% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. raised their price target on shares of The PNC Financial Services Group from $258.00 to $259.00 and gave the company an “overweight” rating in a research note on Friday. Wolfe Research began coverage on The PNC Financial Services Group in a research report on Tuesday, October 27th. They issued a “peer perform” rating on the stock. Royal Bank Of Canada dropped their price target on shares of The PNC Financial Services Group from $273.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, October 16th. Jefferies Financial Group lowered their price target on The PNC Financial Services Group from $305.00 to $280.00 and set a “buy” rating on the stock in a research report on Thursday, September 24th. Finally, Argus upped their price objective on The PNC Financial Services Group from $250.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Seventeen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $266.39.

Read Our Latest Stock Report on PNC

The PNC Financial Services Group Stock Performance

Shares of PNC traded up $4.01 during midday trading on Monday, hitting $231.87. 401,001 shares of the stock traded hands, compared to its average volume of 2,190,661. The PNC Financial Services Group has a 1-year low of $177.08 and a 1-year high of $258.96. The firm has a market capitalization of $92.50 billion, a PE ratio of 12.35, a price-to-earnings-growth ratio of 1.18 and a beta of 0.94. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.83 and a current ratio of 0.84. The business’s 50 day moving average price is $230.03 and its two-hundred day moving average price is $228.88.

The PNC Financial Services Group (NYSE:PNC – Get Free Report) last released its quarterly earnings data on Thursday, October 15th. The financial services provider reported $5.09 earnings per share for the quarter, topping analysts’ consensus estimates of $4.91 by $0.18. The business had revenue of $6.60 billion for the quarter, compared to analysts’ expectations of $6.61 billion. The PNC Financial Services Group had a net margin of 21.83% and a return on equity of 12.82%. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter last year, the company earned $4.35 EPS. Equities research analysts predict that The PNC Financial Services Group will post 19.22 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Stacy Juchno sold 3,354 shares of the 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 transaction, the executive vice president owned 18,800 shares in the company, valued at $4,809,792. This represents a 15.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.38% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

Institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE bought a new stake in shares of The PNC Financial Services Group during the second quarter worth about $2,102,631,000. Nykredit A S bought a new position in The PNC Financial Services Group in the 2nd quarter valued at approximately $33,532,000. AMG National Trust Bank bought a new position in The PNC Financial Services Group in the 2nd quarter valued at approximately $30,557,000. Amundi boosted its position in The PNC Financial Services Group by 5.2% during the 2nd quarter. Amundi now owns 1,824,741 shares of the financial services provider’s stock worth $449,288,000 after buying an additional 90,734 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new stake in The PNC Financial Services Group during the 2nd quarter worth approximately $69,078,000. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Company Profile

(Get Free Report)

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its principal banking subsidiary, PNC Bank, the company provides banking, lending, investment, and related financial services to individuals, small businesses, corporations, government entities, and institutional clients.

PNC’s consumer offerings include checking and savings accounts, credit cards, mortgages, home equity loans, personal lending, and online and mobile banking.

Read More