The PNC Financial Services Group (NYSE:PNC) Raised to "Strong-Buy" at Hsbc Global Res

The PNC Financial Services Group (NYSE:PNC - Get Free Report) was upgraded by stock analysts at Hsbc Global Res from a "hold" rating to a "strong-buy" rating in a research report issued on Monday,Zacks.com reports.

Several other analysts have also recently issued reports on the company. Compass Point increased their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a "neutral" rating in a research note on Tuesday, December 10th. Truist Financial raised their price objective on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a "hold" rating in a report on Friday, January 17th. HSBC raised The PNC Financial Services Group from a "hold" rating to a "buy" rating and reduced their target price for the company from $206.00 to $202.00 in a report on Monday. Stephens restated an "equal weight" rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Finally, Wells Fargo & Company decreased their price objective on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of "Hold" and a consensus target price of $205.65.

Remove Ads

The PNC Financial Services Group Trading Down 9.1 %

The PNC Financial Services Group stock traded down $16.03 during midday trading on Monday, reaching $160.99. 3,408,249 shares of the stock traded hands, compared to its average volume of 1,893,366. The firm has a market cap of $63.71 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. 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 company has a 50-day simple moving average of $186.59 and a two-hundred day simple moving average of $192.07. The PNC Financial Services Group has a 12-month low of $143.52 and a 12-month high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. 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 firm posted $3.16 earnings per share. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. Research analysts expect that The PNC Financial Services Group will post 15.37 earnings per share for the current fiscal year.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $174.78, for a total value of $217,076.76. Following the completion of the sale, the chief executive officer now owns 564,815 shares in the company, valued at $98,718,365.70. This trade represents a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders sold 13,662 shares of company stock valued at $2,559,389. 0.41% of the stock is owned by company insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

Several hedge funds have recently bought and sold shares of the company. Winch Advisory Services LLC acquired a new stake in The PNC Financial Services Group during the 4th quarter valued at $25,000. Richardson Financial Services Inc. raised its stake in The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 140 shares during the last quarter. Albion Financial Group UT purchased a new position in The PNC Financial Services Group in the 4th quarter valued at about $30,000. Synergy Asset Management LLC acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter worth about $32,000. Finally, Rialto Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $32,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

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.