The PNC Financial Services Group, Inc $PNC Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp decreased its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 0.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 716,412 shares of the financial services provider’s stock after selling 4,549 shares during the quarter. Fifth Third Bancorp’s holdings in The PNC Financial Services Group were worth $143,949,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PNC. IMG Wealth Management Inc. purchased a new stake in shares of The PNC Financial Services Group in the second quarter valued at approximately $27,000. Westfuller Advisors LLC purchased a new position in shares of The PNC Financial Services Group during the 3rd quarter valued at approximately $34,000. FNY Investment Advisers LLC acquired a new stake in The PNC Financial Services Group in the 2nd quarter valued at $37,000. True Wealth Design LLC increased its holdings in The PNC Financial Services Group by 1,133.3% in the 2nd quarter. True Wealth Design LLC now owns 222 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 204 shares in the last quarter. Finally, Bayforest Capital Ltd increased its holdings in The PNC Financial Services Group by 237.1% in 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 in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PNC. Keefe, Bruyette & Woods lifted their target price 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. Barclays boosted their price target on The PNC Financial Services Group from $235.00 to $271.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Truist Financial raised their price objective on 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. TD Cowen lifted their target price on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Finally, Oppenheimer raised their price target on shares of The PNC Financial Services Group from $268.00 to $284.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. Fifteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $234.44.

The PNC Financial Services Group Stock Down 0.1%

Shares of NYSE PNC opened at $229.54 on Monday. 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 business’s 50 day moving average is $218.84 and its two-hundred day moving average is $201.99. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $243.94. The firm has a market cap of $90.02 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 0.96 and a beta of 0.99.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, beating analysts’ consensus estimates of $4.23 by $0.65. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The business had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $5.90 billion. During the same period in the previous year, the firm posted $3.77 earnings per share. The company’s revenue was up 9.1% on a year-over-year basis. Research analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

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

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.