2,209 Shares in The PNC Financial Services Group, Inc $PNC Purchased by Optimize Financial Inc

Optimize Financial Inc purchased a new stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,209 shares of the financial services provider’s stock, valued at approximately $444,000.

Several other hedge funds have also bought and sold shares of the stock. IMG Wealth Management Inc. acquired a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at $27,000. Concord Wealth Partners increased its holdings in 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 valued at $32,000 after buying an additional 100 shares in the last quarter. Westfuller Advisors LLC acquired a new position in shares of The PNC Financial Services Group in the third quarter worth about $34,000. FNY Investment Advisers LLC acquired a new position in shares of The PNC Financial Services Group in the second quarter worth about $37,000. Finally, Bayforest Capital Ltd boosted its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $237.25 on Thursday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.81 and a quick ratio of 0.81. The stock’s 50 day simple moving average is $212.93 and its 200-day simple moving average is $199.92. The company has a market cap of $93.04 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 0.98 and a beta of 0.99. The PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-year high of $240.37.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, beating the consensus estimate of $4.23 by $0.65. The firm had revenue of $6.07 billion during the quarter, compared to the consensus estimate 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 was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company earned $3.77 EPS. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

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

Analysts Set New Price Targets

Several brokerages recently weighed in on PNC. Oppenheimer lifted their price target on The PNC Financial Services Group from $268.00 to $284.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Piper Sandler raised The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $211.00 to $220.00 in a report on Thursday, October 9th. Barclays boosted their price objective on The PNC Financial Services Group from $235.00 to $271.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of The PNC Financial Services Group in a research report on Monday, December 22nd. Finally, TD Cowen lifted their price target on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $231.00.

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.