The PNC Financial Services Group (NYSE:PNC) Stock Rating Upgraded by Citigroup

The PNC Financial Services Group (NYSE:PNC – Get Rating) was upgraded by research analysts at Citigroup from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The brokerage currently has a $175.00 target price on the financial services provider’s stock. Citigroup’s target price would indicate a potential upside of 34.07% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the stock. Robert W. Baird cut their target price on shares of The PNC Financial Services Group from $210.00 to $205.00 and set an “outperform” rating for the company in a research note on Thursday, January 19th. Credit Suisse Group cut their target price on shares of The PNC Financial Services Group from $170.00 to $165.00 and set a “neutral” rating for the company in a research note on Thursday, January 19th. Odeon Capital Group upgraded shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $176.27 target price for the company in a research note on Tuesday, January 10th. UBS Group cut shares of The PNC Financial Services Group from a “buy” rating to a “neutral” rating and cut their target price for the company from $190.00 to $176.00 in a research note on Tuesday, January 10th. Finally, Bank of America cut shares of The PNC Financial Services Group from a “neutral” rating to an “underperform” rating and lifted their target price for the company from $157.00 to $160.00 in a research note on Thursday, January 5th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $180.36.

The PNC Financial Services Group Price Performance

NYSE:PNC opened at $130.53 on Monday. The company has a 50-day moving average of $157.37 and a 200-day moving average of $157.59. The company has a market capitalization of $52.17 billion, a price-to-earnings ratio of 9.41, a PEG ratio of 2.02 and a beta of 1.16. The PNC Financial Services Group has a 52 week low of $124.21 and a 52 week high of $199.43. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.79 and a current ratio of 0.79.

The PNC Financial Services Group (NYSE:PNC – Get Rating) last released its quarterly earnings data on Wednesday, January 18th. The financial services provider reported $3.49 EPS for the quarter, missing analysts’ consensus estimates of $3.95 by ($0.46). The PNC Financial Services Group had a return on equity of 12.88% and a net margin of 25.73%. The business had revenue of $5.76 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same period in the previous year, the business posted $2.86 earnings per share. The PNC Financial Services Group’s revenue was up 12.4% on a year-over-year basis. As a group, equities research analysts anticipate that The PNC Financial Services Group will post 14.66 earnings per share for the current fiscal year.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak bought 6,550 shares of the company’s stock in a transaction on Friday, January 20th. The stock was bought at an average price of $153.38 per share, for a total transaction of $1,004,639.00. Following the transaction, the chief executive officer now owns 482,924 shares of the company’s stock, valued at approximately $74,070,883.12. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO William S. Demchak purchased 1,000 shares of the firm’s stock in a transaction dated Monday, March 13th. The stock was bought at an average price of $129.70 per share, with a total value of $129,700.00. Following the acquisition, the chief executive officer now directly owns 525,349 shares of the company’s stock, valued at $68,137,765.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William S. Demchak purchased 6,550 shares of the firm’s stock in a transaction dated Friday, January 20th. The stock was purchased at an average cost of $153.38 per share, with a total value of $1,004,639.00. Following the acquisition, the chief executive officer now directly owns 482,924 shares in the company, valued at $74,070,883.12. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On The PNC Financial Services Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Retirement Financial Solutions LLC acquired a new position in The PNC Financial Services Group in the 4th quarter worth $25,000. West Financial Advisors LLC acquired a new position in The PNC Financial Services Group in the 3rd quarter worth $26,000. Elequin Securities LLC acquired a new position in The PNC Financial Services Group in the 4th quarter worth $28,000. Standard Family Office LLC acquired a new position in The PNC Financial Services Group in the 3rd quarter worth $30,000. Finally, Ten Capital Wealth Advisors LLC boosted its stake in The PNC Financial Services Group by 587.1% in the 3rd quarter. Ten Capital Wealth Advisors LLC now owns 213 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 182 shares during the period. Institutional investors and hedge funds own 82.05% of the company’s stock.

About The PNC Financial Services Group

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The PNC Financial Services Group, Inc is a holding company, which engages in the provision of financial services. It operates through the following segments: Retail Banking, Corporate and Institutional Banking, Asset Management Group, and Other. The Retail Banking segment offers deposit, lending, brokerage, investment management, and cash management products and services to consumer and small business customers.