Caprock Group LLC Makes New $4.36 Million Investment in The PNC Financial Services Group, Inc $PNC

Caprock Group LLC purchased a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 21,023 shares of the financial services provider’s stock, valued at approximately $4,361,000.

Other institutional investors also recently made changes to their positions in the company. IMG Wealth Management Inc. bought a new stake in The PNC Financial Services Group in the second quarter worth $27,000. Concord Wealth Partners increased its holdings in shares of The PNC Financial Services Group by 144.9% in the second quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock worth $32,000 after buying an additional 100 shares during the period. Westfuller Advisors LLC bought a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at about $34,000. FNY Investment Advisers LLC purchased a new stake in The PNC Financial Services Group during the 2nd quarter valued at about $37,000. Finally, Bayforest Capital Ltd grew its position in The PNC Financial Services Group by 237.1% during the 3rd quarter. Bayforest Capital Ltd now owns 209 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 147 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on PNC shares. Truist Financial boosted their price objective on The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a research report on Thursday, December 18th. Keefe, Bruyette & Woods increased their price target on shares of The PNC Financial Services Group from $228.00 to $247.00 and gave the company a “market perform” rating in a research report on Tuesday, January 20th. TD Cowen raised their price target on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Monday, December 22nd. Finally, Oppenheimer increased their target price on shares of The PNC Financial Services Group from $268.00 to $284.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Fifteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, The PNC Financial Services Group has an average rating of “Moderate Buy” and a consensus price target of $234.44.

The PNC Financial Services Group Trading Down 1.9%

PNC opened at $235.66 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.94. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $243.94. The stock has a market cap of $92.42 billion, a PE ratio of 14.21, a PEG ratio of 1.00 and a beta of 0.99. The business has a 50 day moving average of $217.58 and a 200-day moving average of $201.42.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, topping the consensus estimate of $4.23 by $0.65. The company had revenue of $6.07 billion for the quarter, compared to analysts’ expectations 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 firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.77 earnings per share. Equities research analysts predict that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 40.99%.

About The PNC Financial Services Group

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.