The PNC Financial Services Group (NYSE:PNC) Price Target Raised to $251.00

The PNC Financial Services Group (NYSE:PNC) had its price target increased by equities researchers at JPMorgan Chase & Co. from $228.50 to $251.00 in a report released on Monday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 4.18% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Royal Bank Of Canada raised their price target on The PNC Financial Services Group from $222.00 to $235.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. Weiss Ratings reissued a “buy (b)” rating on shares of The PNC Financial Services Group in a report on Monday, December 22nd. Truist Financial raised their price target on The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a report on Thursday, December 18th. Keefe, Bruyette & Woods lifted their target price on The PNC Financial Services Group from $228.00 to $247.00 and gave the stock a “market perform” rating in a report on Tuesday, January 20th. Finally, Barclays increased their price target on The PNC Financial Services Group from $235.00 to $271.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Fifteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $234.44.

The PNC Financial Services Group Price Performance

Shares of PNC traded down $1.56 on Monday, reaching $240.92. The stock had a trading volume of 1,355,833 shares, compared to its average volume of 3,031,268. The firm has a 50-day moving average of $214.89 and a 200 day moving average of $200.55. The firm has a market capitalization of $94.48 billion, a PE ratio of 14.53, a PEG ratio of 1.01 and a beta of 0.99. The PNC Financial Services Group has a twelve month low of $145.12 and a twelve month high of $243.94. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.94.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.23 by $0.65. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The business had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $5.90 billion. During the same quarter in the previous year, the company posted $3.77 EPS. The business’s revenue was up 9.1% on a year-over-year basis. Sell-side analysts expect that The PNC Financial Services Group will post 15.37 EPS for the current year.

Institutional Investors Weigh In On The PNC Financial Services Group

Large investors have recently bought and sold shares of the business. Quarry LP acquired a new stake in The PNC Financial Services Group in the 3rd quarter worth approximately $25,000. IMG Wealth Management Inc. acquired a new stake in shares of The PNC Financial Services Group in the second quarter worth $27,000. Beacon Financial Strategies CORP bought a new stake in shares of The PNC Financial Services Group during the 4th quarter worth $35,000. Concord Wealth Partners raised its holdings in The PNC Financial Services Group by 144.9% in the 2nd quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 100 shares during the period. Finally, Westfuller Advisors LLC acquired a new position in The PNC Financial Services Group during the 3rd quarter worth $34,000. 83.53% of the stock is currently owned by institutional investors.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.