Keefe Bruyette Lifts Price Target on PNC After Management Meetings

The PNC Financial Services Group, Inc. (NYSE:PNC) is included among the 10 Cash-Rich Stocks to Buy Now.

On December 17, Keefe Bruyette raised its price target on The PNC Financial Services Group, Inc. (NYSE:PNC) to $228 from $215 and kept a Market Perform rating on the stock. The firm updated its estimates after recent conference discussions and meetings with management.

A few days earlier, on December 12, the company said it had received all required regulatory approvals to complete its previously announced acquisition of FirstBank Holding Company, including its banking subsidiary, FirstBank. Approvals came from the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the Colorado Division of Banking. PNC expects the transaction to close on or around Jan. 5, 2026, assuming standard closing conditions are met.

Once the deal closes, The PNC Financial Services Group, Inc. (NYSE:PNC) plans to begin integrating FirstBank into its national platform, which includes rolling out PNC’s treasury management, payments, and digital banking capabilities. Full customer conversion is expected by mid-2026.

In November, the bank also said it plans to open more than 300 new branches by 2030. That adds roughly 100 locations to its earlier plan as PNC pushes to expand its physical presence. Even as digital banking and online payments reduce the need for frequent branch visits, many US lenders continue to invest in brick-and-mortar locations to build deposits and deepen customer relationships.

The PNC Financial Services Group, Inc. (NYSE:PNC) is a diversified financial services company in the US. Its operations span retail and business banking, a broad range of lending products, and specialized services for corporate and government clients. The company also has businesses in corporate banking, real estate finance, asset-based lending, wealth management, and asset management.

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