The PNC Financial Services Group (NYSE:PNC) Given New $188.00 Price Target at The Goldman Sachs Group

The PNC Financial Services Group (NYSE:PNC) had its target price cut by analysts at The Goldman Sachs Group from $211.00 to $188.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. The Goldman Sachs Group’s target price points to a potential upside of 8.55% from the company’s previous close.

Other analysts have also issued research reports about the company. Compass Point lifted their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Barclays lifted their price objective on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Stephens reissued an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday, January 17th. Piper Sandler lifted their price objective on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, Morgan Stanley lifted their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and an average target price of $203.71.

The PNC Financial Services Group Stock Performance

PNC traded down $0.17 during midday trading on Wednesday, reaching $173.19. The company’s stock had a trading volume of 95,924 shares, compared to its average volume of 2,178,846. The stock has a market cap of $68.54 billion, a P/E ratio of 12.59, a PEG ratio of 1.55 and a beta of 1.13. The company has a fifty day simple moving average of $191.18 and a 200 day simple moving average of $192.56. 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 PNC Financial Services Group has a twelve month low of $143.52 and a twelve month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The firm had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.16 EPS. Research analysts expect that The PNC Financial Services Group will post 15.37 earnings per share for the current year.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, December 27th. The stock was sold at an average price of $193.62, for a total value of $240,476.04. Following the completion of the transaction, the chief executive officer now owns 528,797 shares in the company, valued at approximately $102,385,675.14. The trade was a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 13,662 shares of company stock worth $2,604,263. 0.42% of the stock is currently owned by insiders.

Institutional Investors Weigh In On The PNC Financial Services Group

Several hedge funds and other institutional investors have recently made changes to their positions in PNC. Principal Financial Group Inc. increased its stake in shares of The PNC Financial Services Group by 1.0% in 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 buying an additional 22,271 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of The PNC Financial Services Group by 12.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 37,096 shares of the financial services provider’s stock valued at $6,857,000 after buying an additional 4,186 shares during the period. Pathstone Holdings LLC increased its stake in shares of The PNC Financial Services Group by 2.2% in the 3rd quarter. Pathstone Holdings LLC now owns 68,125 shares of the financial services provider’s stock valued at $12,593,000 after buying an additional 1,471 shares during the period. Caprock Group LLC increased its stake in shares of The PNC Financial Services Group by 1.1% in the 3rd quarter. Caprock Group LLC now owns 19,809 shares of the financial services provider’s stock valued at $3,662,000 after buying an additional 219 shares during the period. Finally, Premier Fund Managers Ltd acquired a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at $6,541,000. 83.53% of the stock is 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.