Bill Gross warns on gold momentum as regional bank stocks tumble
Investing.com - Piper Sandler has upgraded PNC Financial (NYSE:PNC) from Neutral to Overweight and raised its price target to $220.00 from $211.00. The $74.89 billion bank currently trades at a P/E ratio of 13.05, which InvestingPro analysis suggests is attractive relative to its growth potential.
The upgrade comes despite PNC’s stock performance remaining flat year-to-date, making it the second-worst performing large regional bank in Piper Sandler’s coverage universe. The stock offers a 3.58% dividend yield and has maintained dividend increases for 15 consecutive years.
Piper Sandler noted that PNC has delivered strong fundamental performance throughout the year, despite the lackluster stock movement.
The firm indicated it had previously maintained a Neutral stance on PNC due to the bank’s premium valuation, despite positive views on its fundamentals and management team.
The recent underperformance of PNC shares prompted Piper Sandler to reassess its position on the stock, leading to Thursday’s rating upgrade.
In other recent news, PNC Financial Services Group has had its ratings affirmed by Moody’s, with the outlook upgraded to stable from negative. This affirmation includes an A3 rating for senior unsecured debt for the parent company and an Aa3 long-term deposit rating for its bank subsidiary, PNC Bank, N.A. Additionally, PNC Bank has announced a reduction in its prime lending rate to 7.25%, effective September 18, 2025, impacting various consumer and commercial loans.
In another development, PNC’s consumer brokerage business, PNC Investments, is rebranding to PNC Wealth Management to better reflect its broader service offerings. The rebranding, which involves managing over $92 billion in client assets, will be rolled out over the coming weeks and months. Meanwhile, Piper Sandler has raised its price target for PNC Financial to $211, citing the bank’s recent FirstBank acquisition, which expands its reach in Colorado.
Lastly, Charlotte McLaughlin, a former executive at PNC, has joined the board of Community Capital Technology, bringing her extensive financial services experience to the company.
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