Evansbrook LLC Invests $510,000 in The PNC Financial Services Group, Inc $PNC

Evansbrook LLC bought a new position in The PNC Financial Services Group, Inc (NYSE:PNC) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 2,442 shares of the financial services provider’s stock, valued at approximately $510,000.

Several other large investors have also added to or reduced their stakes in PNC. Quarry LP bought a new stake in The PNC Financial Services Group during the 3rd quarter worth approximately $25,000. Modus Advisors LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $29,000. Kemnay Advisory Services Inc. bought a new position in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $32,000. EFG International AG purchased a new position in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $33,000. Finally, Beacon Financial Strategies CORP purchased a new position in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $35,000. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $232.39 on Friday. The stock has a 50 day moving average of $222.45 and a 200 day moving average of $217.44. The company has a market capitalization of $93.32 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 0.97 and a beta of 0.92. The PNC Financial Services Group, Inc has a 12 month low of $176.16 and a 12 month high of $243.94. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, topping the consensus estimate of $3.92 by $0.40. The business had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The business’s revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.51 earnings per share. As a group, sell-side analysts forecast that The PNC Financial Services Group, Inc will post 18.81 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Tuesday, April 14th. The PNC Financial Services Group’s payout ratio is presently 39.51%.

Analysts Set New Price Targets

A number of research firms recently commented on PNC. Keefe, Bruyette & Woods increased their price target on The PNC Financial Services Group from $247.00 to $253.00 and gave the company a “market perform” rating in a research report on Thursday, April 16th. Truist Financial raised their price objective on The PNC Financial Services Group from $234.00 to $245.00 and gave the company a “hold” rating in a research note on Thursday, April 16th. Barclays lifted their price objective on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Stephens assumed coverage on shares of The PNC Financial Services Group in a research note on Monday. They issued an “overweight” rating and a $265.00 target price for the company. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $246.72.

Insider Buying and Selling

In related news, EVP Stephanie Novosel sold 1,800 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $228.73, for a total transaction of $411,714.00. Following the completion of the sale, the executive vice president owned 3,107 shares in the company, valued at approximately $710,664.11. This trade represents a 36.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Michael Duane Thomas sold 1,500 shares of The PNC Financial Services Group stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $238.14, for a total transaction of $357,210.00. Following the completion of the sale, the executive vice president directly owned 5,059 shares in the company, valued at approximately $1,204,750.26. This represents a 22.87% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 48,300 shares of company stock valued at $10,694,574. 0.38% of the stock is owned by insiders.

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.