The PNC Financial Services Group (NYSE:PNC) Upgraded to “Buy” at HSBC

The PNC Financial Services Group (NYSE:PNC) was upgraded by analysts at HSBC from a “hold” rating to a “buy” rating in a research note issued to investors on Monday,Finviz reports. The brokerage currently has a $202.00 target price on the financial services provider’s stock, down from their prior target price of $206.00. HSBC’s target price indicates a potential upside of 17.56% from the stock’s current price.

Several other analysts also recently commented on the company. Citigroup cut their target price on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Morgan Stanley increased their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. The Goldman Sachs Group decreased their target price on The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating for the company in a research report on Wednesday, March 19th. Wells Fargo & Company lowered their price objective 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 report on Friday. Finally, Barclays lifted their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $204.12.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $171.83 on Monday. The business has a fifty day moving average price of $187.91 and a 200-day moving average price of $192.21. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $68.00 billion, a PE ratio of 12.50, a PEG ratio of 1.55 and a beta of 1.13. The PNC Financial Services Group has a 1-year low of $143.52 and a 1-year high of $216.26.

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

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, January 10th. The shares were sold at an average price of $192.88, for a total transaction of $239,556.96. Following the transaction, the chief executive officer now owns 526,313 shares in the company, valued at approximately $101,515,251.44. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders sold 12,420 shares of company stock worth $2,342,313. 0.41% of the stock is owned by company insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

Hedge funds have recently made changes to their positions in the business. Baltimore Washington Financial Advisors Inc. lifted its holdings in The PNC Financial Services Group by 3.1% in the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider’s stock worth $324,000 after purchasing an additional 51 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of The PNC Financial Services Group by 2.4% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider’s stock worth $434,000 after purchasing an additional 53 shares during the last quarter. Transcend Capital Advisors LLC lifted its position in shares of The PNC Financial Services Group by 1.8% in the fourth quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider’s stock worth $616,000 after buying an additional 55 shares in the last quarter. Valmark Advisers Inc. boosted its stake in The PNC Financial Services Group by 1.4% during the fourth quarter. Valmark Advisers Inc. now owns 4,010 shares of the financial services provider’s stock valued at $773,000 after buying an additional 56 shares during the last quarter. Finally, Red Wave Investments LLC grew its holdings in The PNC Financial Services Group by 3.1% during the 3rd quarter. Red Wave Investments LLC now owns 1,907 shares of the financial services provider’s stock valued at $353,000 after buying an additional 58 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

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.