Compass Point Issues Positive Forecast for The PNC Financial Services Group (NYSE:PNC) Stock Price

The PNC Financial Services Group (NYSE:PNC) had its price objective hoisted by stock analysts at Compass Point from $175.00 to $233.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Compass Point’s price objective would suggest a potential upside of 13.55% from the company’s previous close.

A number of other research firms have also recently commented on PNC. Stephens boosted their price target on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Piper Sandler upped their price objective 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. Wells Fargo & Company upped their price objective on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their price objective for the company from $185.00 to $200.00 in a research note on Thursday, August 15th. Finally, Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus price target of $198.02.

The PNC Financial Services Group Price Performance

NYSE:PNC traded up $0.70 during mid-day trading on Tuesday, hitting $205.20. 206,046 shares of the stock traded hands, compared to its average volume of 1,860,050. 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 12-month low of $139.69 and a 12-month high of $216.26. The company has a market cap of $81.42 billion, a PE ratio of 17.25, a price-to-earnings-growth ratio of 2.18 and a beta of 1.15. The business’s 50-day moving average price is $197.02 and its 200 day moving average price is $178.93.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter in the previous year, the company earned $3.60 EPS. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, analysts expect that The PNC Financial Services Group will post 13.45 EPS for the current fiscal year.

Insider Activity

In other news, 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 transaction of $3,048,195.81. Following the sale, the director now owns 38,649 shares in the company, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the sale, the director now owns 915 shares in the company, valued at approximately $170,299.80. The trade was a 48.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,030 shares of company stock worth $5,873,691 over the last quarter. Insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PNC. RFG Advisory LLC purchased a new position in shares of The PNC Financial Services Group in the second quarter valued at $253,000. Sequoia Financial Advisors LLC grew its holdings in shares of The PNC Financial Services Group by 4.0% in the second quarter. Sequoia Financial Advisors LLC now owns 9,073 shares of the financial services provider’s stock valued at $1,411,000 after purchasing an additional 352 shares in the last quarter. Diversified Trust Co grew its holdings in shares of The PNC Financial Services Group by 27.6% in the second quarter. Diversified Trust Co now owns 3,665 shares of the financial services provider’s stock valued at $570,000 after purchasing an additional 793 shares in the last quarter. Great Valley Advisor Group Inc. boosted its stake in The PNC Financial Services Group by 6.6% during the second quarter. Great Valley Advisor Group Inc. now owns 7,759 shares of the financial services provider’s stock worth $1,206,000 after buying an additional 483 shares during the period. Finally, ORG Partners LLC boosted its stake in The PNC Financial Services Group by 203.7% during the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after buying an additional 110 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

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.