Integrated Advisors Network LLC Buys 8,657 Shares of The PNC Financial Services Group, Inc $PNC

Integrated Advisors Network LLC grew its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 419.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,719 shares of the financial services provider’s stock after purchasing an additional 8,657 shares during the period. Integrated Advisors Network LLC’s holdings in The PNC Financial Services Group were worth $2,230,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in PNC. Brighton Jones LLC raised its holdings in The PNC Financial Services Group by 32.2% during the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after buying an additional 984 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of The PNC Financial Services Group by 2.1% during the first quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock valued at $1,452,000 after buying an additional 170 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in shares of The PNC Financial Services Group by 50.3% during the second quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider’s stock valued at $807,000 after buying an additional 1,449 shares during the last quarter. Treasurer of the State of North Carolina increased its position in shares of The PNC Financial Services Group by 1.5% during the second quarter. Treasurer of the State of North Carolina now owns 184,579 shares of the financial services provider’s stock worth $34,409,000 after acquiring an additional 2,808 shares in the last quarter. Finally, Diversify Advisory Services LLC bought a new stake in shares of The PNC Financial Services Group during the second quarter worth about $482,000. Institutional investors own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In other news, Director Andrew T. Feldstein sold 45,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total value of $9,925,650.00. Following the completion of the transaction, the director directly owned 10,749 shares of the company’s stock, valued at $2,370,906.93. This trade represents a 80.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Stephanie Novosel sold 1,800 shares of The PNC Financial Services Group stock in a transaction on Friday, June 5th. The shares were sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the transaction, the executive vice president owned 3,107 shares of the company’s stock, valued at approximately $710,664.11. This trade represents a 36.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 48,300 shares of company stock worth $10,694,574. 0.38% of the stock is owned by corporate insiders.

More The PNC Financial Services Group News

Here are the key news stories impacting The PNC Financial Services Group this week:

• Positive Sentiment: PNC increased its quarterly dividend to $2.00 per share, up 18% from $1.70, which highlights strong capital generation and shareholder-friendly capital return plans. PNC Raises Common Stock Dividend to $2.00 Per Share
• Positive Sentiment: UBS raised its price target on PNC and kept a buy rating, while JPMorgan and Wells Fargo also lifted targets and maintained overweight views, suggesting analysts see room for more share price appreciation. UBS/JPMorgan/Wells Fargo target updates
• Positive Sentiment: PNC launched a new mobile banking app, which could support client engagement and improve the digital banking experience over time. PNC new mobile app
• Neutral Sentiment: PNC is also cutting 18 branches in Colorado and Arizona after a FirstBank conversion, a routine network optimization move that may help efficiency but is unlikely to drive immediate earnings impact. PNC branch cuts article
• Neutral Sentiment: Broader industry news about banks exploring ways around debit-card fee caps could be supportive for large lenders like PNC, but the impact remains speculative for now. Banks seek work-around on debit card fee limits

The PNC Financial Services Group Stock Up 0.4%

Shares of NYSE:PNC opened at $254.12 on Wednesday. The PNC Financial Services Group, Inc has a 1 year low of $176.88 and a 1 year high of $256.00. The company has a market capitalization of $102.05 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 1.04 and a beta of 0.91. The business has a fifty day moving average price of $228.14 and a two-hundred day moving average price of $221.30. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, beating the consensus estimate of $3.92 by $0.40. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The business had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter in the prior year, the business earned $3.51 earnings per share. The PNC Financial Services Group’s revenue for the quarter was up 13.1% on a year-over-year basis. Analysts forecast that The PNC Financial Services Group, Inc will post 18.82 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th will be given a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 3.1%. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Monday, July 20th. The PNC Financial Services Group’s payout ratio is presently 39.51%.

Analysts Set New Price Targets

PNC has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on The PNC Financial Services Group from $238.00 to $264.50 and gave the company an “overweight” rating in a research note on Monday. Jefferies Financial Group assumed coverage on The PNC Financial Services Group in a research note on Thursday, March 26th. They issued a “buy” rating and a $250.00 price objective for the company. Bank of America raised their target price on The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Truist Financial upped their price target on The PNC Financial Services Group from $245.00 to $257.00 and gave the stock a “hold” rating in a report on Friday, June 26th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $235.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $258.09.

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.