The PNC Financial Services Group (NYSE:PNC) Stock Price Expected to Rise, Morgan Stanley Analyst Says

The PNC Financial Services Group (NYSE:PNC) had its target price lifted by analysts at Morgan Stanley from $199.00 to $208.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “underweight” rating on the financial services provider’s stock. Morgan Stanley’s price target would indicate a potential upside of 3.96% from the stock’s current price.

Several other brokerages also recently weighed in on PNC. Evercore ISI lifted their target price on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Truist Financial boosted their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research report on Friday. Stephens reissued an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a report on Friday. Wells Fargo & Company upped their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Compass Point raised their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $205.00.

The PNC Financial Services Group Stock Performance

PNC traded up $3.54 on Friday, hitting $200.08. 1,770,003 shares of the company traded hands, compared to its average volume of 2,382,321. 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 50 day moving average of $201.65 and a 200-day moving average of $186.67. 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 stock has a market capitalization of $79.39 billion, a PE ratio of 16.89, a PEG ratio of 1.77 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $5.51 billion. During the same quarter in the prior year, the business earned $3.16 earnings per share. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Sell-side analysts anticipate that The PNC Financial Services Group will post 13.47 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Andrew T. Feldstein sold 14,509 shares of the business’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 transaction, the director now owns 38,649 shares of the company’s stock, valued at $8,119,768.41. The trade was 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, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $192.88, for a total transaction of $239,556.96. Following the sale, the chief executive officer now owns 526,313 shares in the company, valued at approximately $101,515,251.44. This trade represents a 0.24 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,030 shares of company stock valued at $5,928,202. Corporate insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV lifted its position in The PNC Financial Services Group by 9.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 29,510 shares of the financial services provider’s stock worth $4,588,000 after buying an additional 2,670 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of The PNC Financial Services Group by 7.3% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,387 shares of the financial services provider’s stock worth $2,081,000 after acquiring an additional 908 shares during the period. Blair William & Co. IL boosted its position in shares of The PNC Financial Services Group by 216.5% in the second quarter. Blair William & Co. IL now owns 45,739 shares of the financial services provider’s stock worth $7,112,000 after acquiring an additional 31,289 shares during the last quarter. XTX Topco Ltd purchased a new stake in The PNC Financial Services Group in the second quarter valued at approximately $512,000. Finally, MQS Management LLC acquired a new position in The PNC Financial Services Group during the second quarter worth approximately $487,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

About The PNC Financial Services Group

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.