The PNC Financial Services Group, Inc $PNC Shares Sold by Keybank National Association OH

Keybank National Association OH lessened its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 3.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 63,466 shares of the financial services provider’s stock after selling 2,446 shares during the period. Keybank National Association OH’s holdings in The PNC Financial Services Group were worth $12,752,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PNC. First Horizon Corp purchased a new position in shares of The PNC Financial Services Group during the 3rd quarter worth $8,360,000. Mirae Asset Global Investments Co. Ltd. raised its stake in The PNC Financial Services Group by 12.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,835 shares of the financial services provider’s stock worth $11,621,000 after purchasing an additional 6,572 shares during the period. Benjamin Edwards Inc. boosted its holdings in The PNC Financial Services Group by 27.2% in the 3rd quarter. Benjamin Edwards Inc. now owns 24,763 shares of the financial services provider’s stock valued at $4,977,000 after purchasing an additional 5,294 shares during the last quarter. Charter Oak Capital Management LLC purchased a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at approximately $2,242,000. Finally, Truist Financial Corp increased its holdings in shares of The PNC Financial Services Group by 1.2% during the 3rd quarter. Truist Financial Corp now owns 1,202,894 shares of the financial services provider’s stock worth $241,697,000 after buying an additional 14,504 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PNC shares. Keefe, Bruyette & Woods upped their price objective on The PNC Financial Services Group from $228.00 to $247.00 and gave the company a “market perform” rating in a report on Tuesday, January 20th. Oppenheimer lifted their target price on The PNC Financial Services Group from $268.00 to $284.00 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. Piper Sandler raised The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and upped their price target for the company from $211.00 to $220.00 in a research note on Thursday, October 9th. Morgan Stanley raised their price objective on The PNC Financial Services Group from $211.00 to $221.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 20th. Finally, Truist Financial boosted their price objective on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a report on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $231.00.

The PNC Financial Services Group Trading Down 0.5%

Shares of NYSE PNC opened at $223.33 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $87.58 billion, a PE ratio of 13.46, a PEG ratio of 0.94 and a beta of 0.99. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $227.78. The stock has a fifty day simple moving average of $210.42 and a 200-day simple moving average of $199.13.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.23 by $0.65. The firm had revenue of $6.07 billion for the quarter, compared to analyst estimates of $5.90 billion. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The PNC Financial Services Group’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.77 EPS. On average, equities analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 5th. Investors of record on Tuesday, January 20th will be issued a $1.70 dividend. The ex-dividend date is Tuesday, January 20th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.0%. The PNC Financial Services Group’s payout ratio is 40.99%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,000 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total transaction of $183,570.00. Following the sale, the executive vice president directly owned 5,802 shares in the company, valued at $1,065,073.14. This represents a 14.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.41% of the stock is currently owned by insiders.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.