The PNC Financial Services Group, Inc $PNC Shares Sold by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC reduced its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 36.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,649 shares of the financial services provider’s stock after selling 3,197 shares during the quarter. Greenwood Capital Associates LLC’s holdings in The PNC Financial Services Group were worth $1,176,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Truist Financial Corp increased its stake in The PNC Financial Services Group by 3.3% in the 4th quarter. Truist Financial Corp now owns 1,242,483 shares of the financial services provider’s stock worth $259,344,000 after purchasing an additional 39,589 shares in the last quarter. Vanguard Group Inc. lifted its stake in The PNC Financial Services Group by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider’s stock valued at $8,114,168,000 after buying an additional 408,464 shares in the last quarter. Teamwork Financial Advisors LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at about $13,711,000. Stoneridge Investment Partners LLC boosted its holdings in shares of The PNC Financial Services Group by 59.1% in the fourth quarter. Stoneridge Investment Partners LLC now owns 23,727 shares of the financial services provider’s stock worth $4,953,000 after buying an additional 8,818 shares during the period. Finally, Swiss Life Asset Management Ltd boosted its holdings in shares of The PNC Financial Services Group by 19.8% in the third quarter. Swiss Life Asset Management Ltd now owns 69,427 shares of the financial services provider’s stock worth $13,950,000 after buying an additional 11,476 shares during the period. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Trading Up 1.7%

NYSE:PNC opened at $250.60 on Friday. The stock has a market cap of $100.63 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 1.01 and a beta of 0.91. The PNC Financial Services Group, Inc has a fifty-two week low of $176.88 and a fifty-two week high of $256.00. 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 stock’s 50-day moving average is $229.24 and its two-hundred day moving average is $221.84.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The business had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.21 billion. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The firm’s revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.51 earnings per share. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc will post 18.83 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th will be given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Monday, July 20th. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The PNC Financial Services Group’s payout ratio is currently 39.51%.

Insiders Place Their Bets

In other news, EVP Stephanie Novosel sold 1,800 shares of the company’s 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 transaction, the executive vice president directly owned 3,107 shares of the company’s stock, valued at approximately $710,664.11. This represents a 36.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael Duane Thomas sold 1,500 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $238.14, for a total value of $357,210.00. Following the sale, the executive vice president owned 5,059 shares of the company’s stock, valued at approximately $1,204,750.26. This represents a 22.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 48,300 shares of company stock worth $10,694,574 in the last quarter. 0.38% of the stock is currently owned by corporate insiders.

Trending Headlines about The PNC Financial Services Group

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

• Positive Sentiment: UBS reiterated a Buy rating on PNC, which helps reinforce investor confidence ahead of earnings. UBS Keeps Bullish View on PNC, Reiterates Buy Rating
• Positive Sentiment: PNC announced a dividend boost, a shareholder-friendly move that can attract income-focused investors. PNC Financial Services Dividend Boost Draws Market Focus
• Positive Sentiment: PNC Bank rolled out a new mobile banking app, signaling continued investment in digital banking and customer retention. PNC Bank rolls out new mobile banking app
• Neutral Sentiment: PNC is approaching its July 15 earnings report, and Wall Street expects earnings growth, but some coverage suggests the setup is not ideal for a big upside surprise. The PNC Financial Services Group, Inc (PNC) Reports Next Week: Wall Street Expects Earnings Growth
• Neutral Sentiment: PNC shares have also been supported by the broader view that the stock has gained significantly over the past six months and may still have room to run if growth initiatives continue to pay off. PNC Financial Gains 14.3% in the Past 6 Months: How to Approach Now?
• Neutral Sentiment: Reports that PNC is among the banks considering a bid for Fiserv’s STAR debit network are strategic in nature, but the impact on PNC is still uncertain and depends on deal economics and regulatory approval. PNC (PNC) Is Eyeing Fiserv’s STAR Network With 115 Million Cardholders

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley boosted their price target on shares of The PNC Financial Services Group from $267.00 to $278.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Barclays upped their price target on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $235.00 price objective on shares of The PNC Financial Services Group in a research note on Wednesday, April 15th. Wells Fargo & Company lifted their price objective on shares of The PNC Financial Services Group from $264.00 to $270.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, UBS Group boosted their target price on shares of The PNC Financial Services Group from $263.00 to $288.00 and gave the company a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $258.09.

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.