The PNC Financial Services Group, Inc $PNC Shares Bought by Czech National Bank

Czech National Bank grew its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 3.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 103,407 shares of the financial services provider’s stock after buying an additional 3,388 shares during the quarter. Czech National Bank’s holdings in The PNC Financial Services Group were worth $21,584,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PNC. Quarry LP acquired a new stake in The PNC Financial Services Group in the third quarter valued at approximately $25,000. Beacon Financial Strategies CORP purchased a new position in The PNC Financial Services Group in the fourth quarter worth approximately $35,000. Westfuller Advisors LLC acquired a new position in The PNC Financial Services Group during the 3rd quarter worth approximately $34,000. JPL Wealth Management LLC acquired a new position in The PNC Financial Services Group during the 3rd quarter worth approximately $37,000. Finally, Financial Life Planners purchased a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at approximately $39,000. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Trading Down 0.3%

Shares of The PNC Financial Services Group stock opened at $205.34 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 company has a market capitalization of $82.83 billion, a P/E ratio of 12.38, a PEG ratio of 0.92 and a beta of 0.98. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $243.94. The company’s fifty day moving average is $219.31 and its two-hundred day moving average is $205.12.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, beating analysts’ consensus estimates of $4.23 by $0.65. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. 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 prior year, the company earned $3.77 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year. 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 business also recently disclosed 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 of this dividend was Tuesday, January 20th. This represents a $6.80 annualized dividend and a yield of 3.3%. The PNC Financial Services Group’s dividend payout ratio is currently 40.99%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PNC. Truist Financial raised 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. Oppenheimer boosted 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 research note on Tuesday, January 20th. Jefferies Financial Group started coverage on The PNC Financial Services Group in a research note on Thursday. They issued a “buy” rating and a $250.00 price target on the stock. Royal Bank Of Canada raised their price target on The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Finally, Wells Fargo & Company lifted their price target on The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Sixteen investment 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. Based on data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and an average target price of $235.26.

Insider Buying and Selling

In other news, EVP Alexander E. C. Overstrom sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $233.91, for a total value of $584,775.00. Following the transaction, the executive vice president owned 21,120 shares of the company’s stock, valued at approximately $4,940,179.20. The trade was a 10.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William S. Demchak sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $230.88, for a total value of $11,544,000.00. Following the sale, the chief executive officer owned 554,274 shares of the company’s stock, valued at $127,970,781.12. This trade represents a 8.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 64,186 shares of company stock valued at $14,840,973 over the last 90 days. Insiders own 0.38% of the company’s stock.

The PNC Financial Services Group 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.