Morgan Stanley analyst Betsy Graseck maintained a Sell rating on PNC Financial (PNC – Research Report) today and set a price target of $163.00. The company’s shares opened today at $150.50.
Graseck covers the Financial sector, focusing on stocks such as PNC Financial, Bank of New York Mellon Corporation, and Wells Fargo. According to TipRanks, Graseck has an average return of 4.4% and a 48.97% success rate on recommended stocks.
Currently, the analyst consensus on PNC Financial is a Moderate Buy with an average price target of $181.02, a 20.28% upside from current levels. In a report released on January 5, Bank of America Securities also downgraded the stock to a Sell with a $160.00 price target.
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Based on PNC Financial’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $5.55 billion and a net profit of $1.62 billion. In comparison, last year the company earned a revenue of $5.2 billion and had a net profit of $1.47 billion
Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PNC in relation to earlier this year.
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PNC Financial Services Group, Inc. is a diversified financial services company. Its Retail Banking division provides deposit, lending, investment management, cash management and brokerage services to consumer and small business customers. Under the Corporate and Institutional Banking division, it offers lending, treasury management, and capital markets-related products and services to government entities, large and mid-sized corporations, and non-profit organizations.The Asset Management Group segment provides personal wealth management for high net worth and ultra-high net worth clients and institutional asset management.
Read More on PNC:
- Unusually active option classes on open January 18th
- PNC Financial says well capitalized with flexibility
- PNC Financial says continues to grow loan book in ‘disciplined manner’
- PNC Financial sees FY23 revenue up 6%-8% y/y, consensus $23.28B
- PNC Financial sees Q1 revenue down about 3% vs. 4Q22, consensus $5.69B