Morgan Stanley Issues Positive Forecast for The PNC Financial Services Group (NYSE:PNC) Stock Price

The PNC Financial Services Group (NYSE:PNC - Get Free Report) had its price objective lifted by stock analysts at Morgan Stanley from $199.00 to $208.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an "underweight" rating on the financial services provider's stock. Morgan Stanley's price objective would suggest a potential upside of 4.86% from the company's previous close.

PNC has been the subject of several other research reports. Truist Financial lifted their price target on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a "hold" rating in a research report on Friday. Wells Fargo & Company lifted their target price on shares of 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. Barclays increased their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. Evercore ISI lifted 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, Stephens reiterated an "equal weight" rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $205.00.

The PNC Financial Services Group Price Performance

Shares of PNC traded up $1.82 on Friday, hitting $198.36. The company's stock had a trading volume of 4,465,710 shares, compared to its average volume of 1,593,872. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $78.71 billion, a PE ratio of 16.77, a PEG ratio of 1.77 and a beta of 1.16. The company has a 50 day moving average price of $201.40 and a 200 day moving average price of $187.03. The PNC Financial Services Group has a fifty-two week low of $139.69 and a fifty-two week high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping analysts' consensus estimates of $3.26 by $0.51. The company had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company's revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $3.16 earnings per share. On average, research analysts anticipate that The PNC Financial Services Group will post 13.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $216.01, for a total transaction of $268,284.42. Following the completion of the transaction, the chief executive officer now owns 533,765 shares of the company's stock, valued at $115,298,577.65. This represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 completion of 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 29,030 shares of company stock worth $5,928,202. Corporate insiders own 0.42% of the company's stock.

Hedge Funds Weigh In On The PNC Financial Services Group

Large investors have recently modified their holdings of the business. Winch Advisory Services LLC acquired a new position in The PNC Financial Services Group during the fourth quarter valued at approximately $25,000. Albion Financial Group UT bought a new position in shares of The PNC Financial Services Group in the fourth quarter valued at $30,000. Valley Wealth Managers Inc. grew its stake in shares of The PNC Financial Services Group by 20,000.0% in the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider's stock valued at $37,000 after buying an additional 200 shares in the last quarter. Quarry LP raised its position in The PNC Financial Services Group by 141.7% during the second quarter. Quarry LP now owns 290 shares of the financial services provider's stock worth $45,000 after acquiring an additional 170 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in The PNC Financial Services Group in the third quarter valued at $51,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

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.