Citigroup Issues Positive Forecast for The PNC Financial Services Group (NYSE:PNC) Stock Price

The PNC Financial Services Group (NYSE:PNC) had its price target hoisted by research analysts at Citigroup from $200.00 to $235.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Citigroup’s target price would suggest a potential upside of 9.91% from the stock’s previous close.

Several other research analysts have also weighed in on PNC. Barclays increased their target price on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Morgan Stanley lifted their price objective on The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research note on Wednesday, October 16th. Evercore ISI increased their target price on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Wells Fargo & Company lifted their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Compass Point lowered shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $189.15.

The PNC Financial Services Group Trading Up 1.8 %

NYSE:PNC traded up $3.74 on Monday, reaching $213.81. The stock had a trading volume of 85,388 shares, compared to its average volume of 1,869,377. The PNC Financial Services Group has a 12-month low of $127.49 and a 12-month high of $214.20. The company has a market cap of $84.84 billion, a price-to-earnings ratio of 18.07, a P/E/G ratio of 2.20 and a beta of 1.13. The firm’s fifty day moving average is $191.01 and its two-hundred day moving average is $174.83. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the prior year, the firm posted $3.60 earnings per share. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities analysts expect that The PNC Financial Services Group will post 13.45 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the sale, the director now directly owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. This represents a 27.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, September 20th. The stock was sold at an average price of $186.45, for a total transaction of $231,570.90. Following the completion of the transaction, the chief executive officer now directly owns 550,975 shares of the company’s stock, valued at approximately $102,729,288.75. This represents a 0.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,546 shares of company stock valued at $5,317,200 in the last ninety days. Corporate insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PNC. Sanctuary Advisors LLC lifted its holdings in The PNC Financial Services Group by 3.8% in the third quarter. Sanctuary Advisors LLC now owns 97,908 shares of the financial services provider’s stock worth $18,098,000 after acquiring an additional 3,595 shares during the last quarter. Wealthquest Corp acquired a new stake in shares of The PNC Financial Services Group during the 3rd quarter worth approximately $212,000. TD Private Client Wealth LLC lifted its holdings in shares of The PNC Financial Services Group by 1.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 33,127 shares of the financial services provider’s stock worth $6,124,000 after purchasing an additional 327 shares during the last quarter. Toronto Dominion Bank boosted its position in The PNC Financial Services Group by 129.3% during the 3rd quarter. Toronto Dominion Bank now owns 447,755 shares of the financial services provider’s stock valued at $82,768,000 after purchasing an additional 252,473 shares during the period. Finally, Coldstream Capital Management Inc. grew its stake in The PNC Financial Services Group by 13.2% during the 3rd quarter. Coldstream Capital Management Inc. now owns 7,953 shares of the financial services provider’s stock worth $1,483,000 after buying an additional 926 shares during the last quarter. 83.53% of the stock is currently owned by 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.