The PNC Financial Services Group (NYSE:PNC) Price Target Cut to $200.00 by Analysts at Citigroup

The PNC Financial Services Group (NYSE:PNC) had its price target lowered by investment analysts at Citigroup from $235.00 to $200.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Citigroup’s price objective points to a potential upside of 13.19% from the stock’s previous close.

Several other research analysts have also issued reports on PNC. Compass Point increased their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Barclays lifted their price target 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. Truist Financial upped their price objective on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Stephens reiterated an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Finally, Morgan Stanley increased their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $201.65.

The PNC Financial Services Group Price Performance

Shares of PNC stock traded up $3.09 during mid-day trading on Monday, reaching $176.70. The company’s stock had a trading volume of 674,274 shares, compared to its average volume of 1,754,192. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The firm’s 50-day moving average is $190.03 and its two-hundred day moving average is $192.34. The PNC Financial Services Group has a 1-year low of $143.52 and a 1-year high of $216.26. The company has a market cap of $69.93 billion, a P/E ratio of 12.85, a PEG ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter last year, the company earned $3.16 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, research analysts predict that The PNC Financial Services Group will post 15.37 earnings per share for the current year.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $192.15, for a total transaction of $238,650.30. Following the completion of the sale, the chief executive officer now directly owns 527,555 shares of the company’s stock, valued at approximately $101,369,693.25. This represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 12,420 shares of company stock valued at $2,369,165 over the last 90 days. 0.42% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. increased its holdings in The PNC Financial Services Group by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock worth $420,621,000 after purchasing an additional 22,271 shares in the last quarter. Great Valley Advisor Group Inc. raised its position in The PNC Financial Services Group by 3.0% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 7,989 shares of the financial services provider’s stock valued at $1,477,000 after buying an additional 230 shares during the last quarter. Cerity Partners LLC boosted its position in The PNC Financial Services Group by 38.2% during the 3rd quarter. Cerity Partners LLC now owns 121,379 shares of the financial services provider’s stock worth $22,437,000 after acquiring an additional 33,540 shares during the last quarter. Swedbank AB grew its stake in shares of The PNC Financial Services Group by 0.4% during the 3rd quarter. Swedbank AB now owns 212,137 shares of the financial services provider’s stock worth $39,214,000 after acquiring an additional 855 shares in the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of The PNC Financial Services Group by 7.6% in the third quarter. Larson Financial Group LLC now owns 12,908 shares of the financial services provider’s stock valued at $2,386,000 after purchasing an additional 909 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

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.