Northside Capital Management LLC Has $8.85 Million Stake in The PNC Financial Services Group, Inc $PNC

Northside Capital Management LLC grew its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 51.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 42,412 shares of the financial services provider’s stock after purchasing an additional 14,438 shares during the quarter. Northside Capital Management LLC’s holdings in The PNC Financial Services Group were worth $8,853,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of PNC. Quarry LP bought a new position in The PNC Financial Services Group during the third quarter worth $25,000. Westfuller Advisors LLC bought a new stake in The PNC Financial Services Group during the third quarter valued at $34,000. JPL Wealth Management LLC acquired a new stake in The PNC Financial Services Group during the 3rd quarter worth about $37,000. Financial Life Planners acquired a new stake in The PNC Financial Services Group during the 3rd quarter worth about $39,000. Finally, Bayforest Capital Ltd raised its position in shares of 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. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $201.71 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50 day moving average price of $220.00 and a two-hundred day moving average price of $205.12. The firm has a market capitalization of $81.37 billion, a P/E ratio of 12.16, a P/E/G ratio of 0.90 and a beta of 0.98. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $243.94.

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 for the quarter, beating analysts’ consensus estimates of $4.23 by $0.65. The company 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 company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter last year, the company earned $3.77 earnings per share. Equities analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio is presently 40.99%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. 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 note on Thursday, December 18th. Barclays raised their target price on The PNC Financial Services Group from $235.00 to $271.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of The PNC Financial Services Group in a report on Monday, December 22nd. Wells Fargo & Company boosted their price target on The PNC Financial Services Group from $252.00 to $264.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Finally, Oppenheimer increased their price target on 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 investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $234.44.

Insider Buying and Selling

In other news, EVP Alexander E. C. Overstrom sold 2,500 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $233.91, for a total value of $584,775.00. Following the completion of the sale, the executive vice president owned 21,120 shares in the company, valued at $4,940,179.20. This represents a 10.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Richard Kevin Bynum sold 7,407 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $230.98, for a total transaction of $1,710,868.86. Following the transaction, the executive vice president directly owned 1,942 shares in the company, valued at $448,563.16. The trade was a 79.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 64,186 shares of company stock valued at $14,840,973 in the last 90 days. Insiders own 0.41% of the company’s stock.

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.