Wedbush Securities Inc. decreased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) by 7.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,777 shares of the financial services provider’s stock after selling 136 shares during the period. Wedbush Securities Inc.’s holdings in The PNC Financial Services Group were worth $328,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Citizens National Bank Trust Department purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $28,000. Retirement Planning Co of New England Inc. purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $30,000. Guardian Wealth Management Inc. purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $32,000. Covestor Ltd purchased a new position in shares of The PNC Financial Services Group in the fourth quarter worth $40,000. Finally, Baltimore Washington Financial Advisors Inc. purchased a new position in shares of The PNC Financial Services Group in the fourth quarter worth $227,000. 83.54% of the stock is owned by institutional investors.
PNC stock opened at $161.09 on Wednesday. The firm has a market cap of $66.62 billion, a PE ratio of 13.63, a P/E/G ratio of 2.23 and a beta of 1.24. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.74 and a current ratio of 0.75. The firm’s fifty day moving average is $163.36 and its 200 day moving average is $185.44. The PNC Financial Services Group, Inc. has a one year low of $149.51 and a one year high of $228.14.
The PNC Financial Services Group (NYSE:PNC – Get Rating) last released its quarterly earnings results on Thursday, April 14th. The financial services provider reported $3.29 EPS for the quarter, beating the consensus estimate of $2.78 by $0.51. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.72 billion. The PNC Financial Services Group had a net margin of 26.14% and a return on equity of 12.43%. The firm’s revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the business earned $4.10 earnings per share. Research analysts predict that The PNC Financial Services Group, Inc. will post 14.21 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 5th. Stockholders of record on Wednesday, July 13th will be given a $1.50 dividend. The ex-dividend date of this dividend is Tuesday, July 12th. This represents a $6.00 annualized dividend and a dividend yield of 3.72%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 50.76%.
A number of research analysts have issued reports on PNC shares. Wells Fargo & Company decreased their price target on shares of The PNC Financial Services Group from $227.00 to $202.00 and set an “overweight” rating for the company in a report on Friday, July 1st. Wolfe Research decreased their price target on shares of The PNC Financial Services Group from $223.00 to $177.00 and set an “outperform” rating for the company in a report on Thursday, May 26th. Morgan Stanley decreased their price target on shares of The PNC Financial Services Group from $209.00 to $196.00 and set an “underweight” rating for the company in a report on Monday, March 28th. Raymond James decreased their price target on shares of The PNC Financial Services Group from $215.00 to $210.00 and set an “outperform” rating for the company in a report on Monday, April 18th. Finally, Piper Sandler decreased their price target on shares of The PNC Financial Services Group from $215.00 to $201.00 and set a “neutral” rating for the company in a report on Friday, April 1st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $214.40.
In other news, EVP Guild Deborah sold 1,257 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, May 3rd. The shares were sold at an average price of $170.56, for a total value of $214,393.92. Following the sale, the executive vice president now owns 23,360 shares in the company, valued at $3,984,281.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert A. Niblock bought 2,000 shares of the company’s stock in a transaction dated Friday, May 6th. The stock was bought at an average price of $167.07 per share, for a total transaction of $334,140.00. Following the transaction, the director now owns 6,063 shares of the company’s stock, valued at $1,012,945.41. The disclosure for this purchase can be found here. 0.34% of the stock is owned by company insiders.
About The PNC Financial Services Group (Get Rating)
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The company’s Retail Banking segment offers brokerage, insurance, and investment and cash management services; checking, savings, and money market accounts; certificates of deposits; and lending products, which includes residential mortgages, home equity loans and lines of credit, auto loans, education loans, and personal and small business loans, and credit cards to consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels.
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