Oppenheimer analysts lower earnings estimates for The PNC Financial Services Group, Inc. (NYSE: PNC)

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The PNC Financial Services Group, Inc. (NYSE: PNC) – Oppenheimer analysts lowered their earnings per share (EPS) estimates for fiscal 2022 for The PNC Financial Services Group in a research note released on Wednesday 29 September. Oppenheimer analyst C. Kotowski now predicts the financial services provider will post earnings of $ 14.08 per share for the year, down from its previous forecast of $ 14.15. Oppenheimer currently has a “Hold” rating and a target price of $ 189.50 on the stock.

Several other brokerages have also published reports on the PNC. Credit Suisse Group raised its price target for PNC Financial Services Group shares from $ 190.00 to $ 192.00 and assigned the stock a “neutral” rating in a research note on Monday, July 19. Odeon Capital Group downgraded shares of The PNC Financial Services Group from a “buy” rating to a “hold” rating in a research report published on Monday, July 19. Morgan Stanley raised its price target for the PNC Financial Services Group stock from $ 192.00 to $ 193.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 29. Wolfe Research Upgraded The PNC Financial Services Group Stock From “Underperformance” To “Outperformance” Rating And Raised Its Price Target For The Company From $ 194.00 To $ 252.00 in a research note on Friday, July 2. Finally, the Royal Bank of Canada increased its price target for The PNC Financial Services Group shares from $ 190.00 to $ 200.00 and assigned the company an “outperformance” rating in a research report on. Thursday July 15. One analyst assigned a sell rating to the stock, twelve assigned a conservation rating, and eleven assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $ 184.20.

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NYSE PNC shares opened at $ 195.64 on Friday. The PNC Financial Services Group has a minimum of $ 106.85 over 52 weeks and a maximum of $ 203.88 over 52 weeks. The stock has a market cap of $ 83.12 billion, a price / earnings ratio of 14.84, a PEG ratio of 0.51 and a beta of 1.40. The company has a leverage ratio of 0.64, a quick ratio of 0.80 and a current ratio of 0.80. The company’s 50-day simple moving average is $ 189.60 and its 200-day simple moving average is $ 187.18. The PNC Financial Services Group (NYSE: PNC) last released its quarterly results on Tuesday, July 13. The financial services provider reported earnings per share of $ 2.43 for the quarter, missing Zacks’ consensus estimate of $ 2.77 ($ 0.34). The company posted revenue of $ 4.67 billion for the quarter, compared to $ 4.40 billion according to analysts’ estimates. PNC Financial Services Group recorded a return on equity of 12.53% and a net margin of 32.72%. The company’s revenue grew 14.5% year-over-year. In the same quarter of the previous year, the company posted earnings of $ 8.40 per share.

In related news, Executive Vice President Michael J. Hannon sold 4,200 shares of PNC Financial Services Group in a trade on Wednesday, July 21. The shares were sold for an average price of $ 184.16, for a total value of $ 773,472.00. Following the transaction, the Executive Vice President now directly owns 47,625 shares of the company, valued at approximately $ 8,770,620. The transaction was disclosed in a legal file with the SEC, accessible through this link. In the past 90 days, insiders have sold 4,575 shares of the company valued at $ 845,158. Insiders own 0.30% of the company’s shares.

A number of institutional investors have recently bought and sold shares of PNC. Cypress Point Wealth Management LLC purchased a new stake in The PNC Financial Services Group during the second quarter for a value of approximately $ 25,000. Paragon Wealth Strategies LLC purchased a new stake in The PNC Financial Services Group in the second quarter for a value of approximately $ 26,000. Financial Advantage Inc. increased its stake in The PNC Financial Services Group by 50.7% in the second quarter. Financial Advantage Inc. now owns 743 shares of the financial services provider valued at $ 33,000 after purchasing an additional 250 shares during the period. Strategic Blueprint LLC purchased a new stake in The PNC Financial Services Group in the second quarter for a value of approximately $ 35,000. Finally, MV Capital Management Inc. increased its stake in The PNC Financial Services Group by 39.0% in the second quarter. MV Capital Management Inc. now owns 221 shares of the financial services provider valued at $ 42,000 after purchasing 62 additional shares during the period. Hedge funds and other institutional investors hold 81.76% of the company’s shares.

About PNC Financial Services Group

PNC Financial Services Group, Inc is a holding company which provides financial services. It operates through the following segments: retail banking, corporate and institutional banking, asset management group and BlackRock. The Retail Banking segment provides deposit, lending, brokerage, investment management and cash management products and services to individuals and small businesses.

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PNC Financial Services Group (NYSE: PNC) Profit History and Estimates

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