Truist Financial Cuts The PNC Financial Services Group (NYSE:PNC) Price Target to $208.00

The PNC Financial Services Group (NYSE:PNC - Get Free Report) had its price target decreased by stock analysts at Truist Financial from $216.00 to $208.00 in a report issued on Friday,Benzinga reports. The firm currently has a "hold" rating on the financial services provider's stock. Truist Financial's target price points to a potential upside of 32.91% from the company's current price.

Other analysts also recently issued reports about the stock. 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, January 17th. Wells Fargo & Company lowered their price target on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. Morgan Stanley increased their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an "underweight" rating in a research note on Friday, January 17th. The Goldman Sachs Group lowered their target price on The PNC Financial Services Group from $211.00 to $188.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 19th. Finally, Hsbc Global Res raised The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, The PNC Financial Services Group currently has an average rating of "Hold" and a consensus target price of $203.47.

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The PNC Financial Services Group Stock Up 4.5 %

Shares of NYSE PNC traded up $6.74 during mid-day trading on Friday, reaching $156.50. 1,402,354 shares of the company's stock were exchanged, compared to its average volume of 1,930,304. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The business has a fifty day simple moving average of $181.81 and a 200 day simple moving average of $191.00. The PNC Financial Services Group has a twelve month low of $143.52 and a twelve month high of $216.26. The firm has a market capitalization of $61.93 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 1.55 and a beta of 1.04.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating analysts' consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the previous year, the company posted $3.16 earnings per share. The company's quarterly revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts expect that The PNC Financial Services Group will post 15.37 EPS for the current fiscal 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 on Friday, January 10th. The shares were sold at an average price of $192.88, for a total value of $239,556.96. Following the completion of the sale, the chief executive officer now directly owns 526,313 shares in the company, valued at approximately $101,515,251.44. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have sold 13,061 shares of company stock worth $2,420,267. Insiders own 0.41% of the company's stock.

Institutional Trading of The PNC Financial Services Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. boosted its position in shares of The PNC Financial Services Group by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider's stock valued at $420,621,000 after acquiring an additional 22,271 shares during the last quarter. IHT Wealth Management LLC grew its position in The PNC Financial Services Group by 39.8% during the 3rd quarter. IHT Wealth Management LLC now owns 4,511 shares of the financial services provider's stock worth $826,000 after acquiring an additional 1,284 shares during the last quarter. Morse Asset Management Inc bought a new stake in The PNC Financial Services Group in the 3rd quarter worth $481,000. Royal London Asset Management Ltd. grew its stake in shares of The PNC Financial Services Group by 2.1% in the third quarter. Royal London Asset Management Ltd. now owns 354,252 shares of the financial services provider's stock worth $65,483,000 after purchasing an additional 7,349 shares during the last quarter. Finally, Quarry LP raised its holdings in shares of The PNC Financial Services Group by 43.8% during the third quarter. Quarry LP now owns 417 shares of the financial services provider's stock valued at $77,000 after acquiring an additional 127 shares in the last quarter. 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.