The PNC Financial Services Group (NYSE:PNC) Upgraded at HSBC

The PNC Financial Services Group (NYSE:PNC) was upgraded by equities researchers at HSBC from a “hold” rating to a “buy” rating in a report issued on Monday,Finviz reports. The brokerage presently has a $202.00 price target on the financial services provider’s stock, down from their prior price target of $206.00. HSBC’s target price points to a potential upside of 17.56% from the stock’s previous close.

Several other equities research analysts have also issued reports on PNC. Wells Fargo & Company dropped their price target on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a research note on Friday. Truist Financial boosted their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. The Goldman Sachs Group reduced their price target on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Morgan Stanley boosted their price objective on shares of 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. Finally, Barclays increased their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $204.12.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $171.83 on Monday. The firm’s 50 day simple moving average is $187.91 and its 200 day simple moving average is $192.21. 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 1-year low of $143.52 and a 1-year high of $216.26. The firm has a market capitalization of $68.00 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13.

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

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $202.11, for a total transaction of $251,020.62. Following the sale, the chief executive officer now owns 522,587 shares of the company’s stock, valued at approximately $105,620,058.57. The trade was a 0.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 12,420 shares of company stock valued at $2,342,313. Company insiders own 0.41% of the company’s stock.

Institutional Trading of The PNC Financial Services Group

Several large investors have recently bought and sold shares of the company. Winch Advisory Services LLC purchased a new position in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $25,000. Richardson Financial Services Inc. grew its position in shares of 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 worth $28,000 after buying an additional 140 shares during the period. Albion Financial Group UT purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter worth about $30,000. Synergy Asset Management LLC bought a new position in shares of The PNC Financial Services Group in the 4th quarter worth about $32,000. Finally, Rialto Wealth Management LLC purchased a new position in The PNC Financial Services Group during the 4th quarter valued at about $32,000. 83.53% of the stock is owned by 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.