Morgan Stanley Forecasts Strong Price Appreciation for The PNC Financial Services Group (NYSE:PNC) Stock

The PNC Financial Services Group (NYSE:PNCGet Free Report) had its price objective raised by stock analysts at Morgan Stanley from $199.00 to $208.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “underweight” rating on the financial services provider’s stock. Morgan Stanley’s price target would suggest a potential upside of 4.86% from the stock’s previous close.

Several other equities research analysts also recently issued reports on PNC. Compass Point increased their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Wells Fargo & Company increased their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Keefe, Bruyette & Woods increased their price objective on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 16th. Evercore ISI increased their price objective on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Truist Financial increased their price objective on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $205.00.

Get Our Latest Stock Analysis on PNC

The PNC Financial Services Group Trading Up 0.9 %

NYSE:PNC opened at $198.36 on Friday. 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 1-year low of $139.69 and a 1-year high of $216.26. The firm has a market capitalization of $78.71 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 1.77 and a beta of 1.16. The stock has a fifty day simple moving average of $201.40 and a 200 day simple moving average of $187.03.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter last year, the company posted $3.16 EPS. The PNC Financial Services Group’s revenue for the quarter was up 3.8% on a year-over-year basis. Sell-side analysts forecast that The PNC Financial Services Group will post 13.47 earnings per share for the current year.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $190.27, for a total value of $236,315.34. Following the sale, the chief executive officer now owns 544,765 shares of the company’s stock, valued at $103,652,436.55. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the sale, the director now directly owns 38,649 shares in the company, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,030 shares of company stock valued at $5,928,202. Insiders own 0.42% of the company’s stock.

Institutional Trading of The PNC Financial Services Group

Institutional investors have recently modified their holdings of the company. Winch Advisory Services LLC acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter worth approximately $25,000. Albion Financial Group UT acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter worth approximately $30,000. Valley Wealth Managers Inc. grew its holdings in shares of The PNC Financial Services Group by 20,000.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 200 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of The PNC Financial Services Group during the 3rd quarter worth approximately $51,000. Finally, Quarry LP grew its holdings in shares of The PNC Financial Services Group by 141.7% during the 2nd quarter. Quarry LP now owns 290 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 170 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

About The PNC Financial Services Group

(Get Free Report)

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.

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