Perkins Coie Trust Co reduced its position in The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 79.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,387 shares of the financial services provider’s stock after selling 17,441 shares during the quarter. Perkins Coie Trust Co’s holdings in The PNC Financial Services Group were worth $679,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new stake in The PNC Financial Services Group during the 3rd quarter worth about $25,000. DHJJ Financial Advisors Ltd. bought a new stake in The PNC Financial Services Group during the 3rd quarter worth approximately $29,000. Tyler Stone Wealth Management purchased a new stake in The PNC Financial Services Group in the 2nd quarter worth approximately $29,000. Cornerstone Planning Group LLC bought a new position in The PNC Financial Services Group in the 2nd quarter valued at $30,000. Finally, Chilton Capital Management LLC purchased a new position in shares of The PNC Financial Services Group during the 1st quarter valued at $33,000. 80.14% of the stock is currently owned by institutional investors.
The PNC Financial Services Group Trading Up 0.2 %
The PNC Financial Services Group stock traded up $0.29 during mid-day trading on Friday, hitting $148.78. The company’s stock had a trading volume of 3,969,641 shares, compared to its average volume of 2,340,176. The firm has a market capitalization of $59.19 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 1.78 and a beta of 1.17. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.42. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $157.69. The stock’s fifty day moving average is $149.52 and its two-hundred day moving average is $136.29.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last announced its earnings results on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $1.04. The firm had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.30 billion. The PNC Financial Services Group had a return on equity of 12.27% and a net margin of 17.50%. The business’s revenue was down 7.0% on a year-over-year basis. During the same period in the prior year, the firm earned $3.49 EPS. On average, analysts anticipate that The PNC Financial Services Group, Inc. will post 12.28 EPS for the current year.
The PNC Financial Services Group Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, February 5th. Investors of record on Tuesday, January 16th were given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 4.17%. The ex-dividend date was Friday, January 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 48.48%.
Wall Street Analyst Weigh In
A number of research firms recently commented on PNC. Piper Sandler increased their target price on The PNC Financial Services Group from $125.00 to $143.00 and gave the company a “neutral” rating in a research note on Friday, December 8th. Morgan Stanley increased their target price on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a report on Tuesday, January 30th. The Goldman Sachs Group boosted their price target on shares of The PNC Financial Services Group from $128.00 to $147.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 19th. Odeon Capital Group upgraded The PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $153.38 price objective on the stock in a report on Thursday, December 14th. Finally, Keefe, Bruyette & Woods raised their target price on shares of The PNC Financial Services Group from $125.00 to $145.00 and gave the stock an “underperform” rating in a report on Wednesday, January 3rd. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and a consensus target price of $146.59.
Get Our Latest Stock Analysis on The PNC Financial Services Group
Insider Buying and Selling at The PNC Financial Services Group
In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the completion of the transaction, the executive vice president now owns 36,570 shares in the company, valued at approximately $5,442,347.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.39% of the stock is currently owned by corporate insiders.
About The PNC Financial Services Group
(Free Report)
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company’s Retail Banking segment offers checking, savings, and money market accounts, as well as certificates of deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.
Featured Articles
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Perkins Coie Trust Co reduced its position in The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 79.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,387 shares of the financial services provider’s stock after selling 17,441 shares during the quarter. Perkins Coie Trust Co’s holdings in The PNC Financial Services Group were worth $679,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new stake in The PNC Financial Services Group during the 3rd quarter worth about $25,000. DHJJ Financial Advisors Ltd. bought a new stake in The PNC Financial Services Group during the 3rd quarter worth approximately $29,000. Tyler Stone Wealth Management purchased a new stake in The PNC Financial Services Group in the 2nd quarter worth approximately $29,000. Cornerstone Planning Group LLC bought a new position in The PNC Financial Services Group in the 2nd quarter valued at $30,000. Finally, Chilton Capital Management LLC purchased a new position in shares of The PNC Financial Services Group during the 1st quarter valued at $33,000. 80.14% of the stock is currently owned by institutional investors.
The PNC Financial Services Group Trading Up 0.2 %
The PNC Financial Services Group stock traded up $0.29 during mid-day trading on Friday, hitting $148.78. The company’s stock had a trading volume of 3,969,641 shares, compared to its average volume of 2,340,176. The firm has a market capitalization of $59.19 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 1.78 and a beta of 1.17. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.42. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $157.69. The stock’s fifty day moving average is $149.52 and its two-hundred day moving average is $136.29.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last announced its earnings results on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $1.04. The firm had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.30 billion. The PNC Financial Services Group had a return on equity of 12.27% and a net margin of 17.50%. The business’s revenue was down 7.0% on a year-over-year basis. During the same period in the prior year, the firm earned $3.49 EPS. On average, analysts anticipate that The PNC Financial Services Group, Inc. will post 12.28 EPS for the current year.
The PNC Financial Services Group Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, February 5th. Investors of record on Tuesday, January 16th were given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 4.17%. The ex-dividend date was Friday, January 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 48.48%.
Wall Street Analyst Weigh In
A number of research firms recently commented on PNC. Piper Sandler increased their target price on The PNC Financial Services Group from $125.00 to $143.00 and gave the company a “neutral” rating in a research note on Friday, December 8th. Morgan Stanley increased their target price on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a report on Tuesday, January 30th. The Goldman Sachs Group boosted their price target on shares of The PNC Financial Services Group from $128.00 to $147.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 19th. Odeon Capital Group upgraded The PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $153.38 price objective on the stock in a report on Thursday, December 14th. Finally, Keefe, Bruyette & Woods raised their target price on shares of The PNC Financial Services Group from $125.00 to $145.00 and gave the stock an “underperform” rating in a report on Wednesday, January 3rd. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and a consensus target price of $146.59.
Get Our Latest Stock Analysis on The PNC Financial Services Group
Insider Buying and Selling at The PNC Financial Services Group
In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the completion of the transaction, the executive vice president now owns 36,570 shares in the company, valued at approximately $5,442,347.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.39% of the stock is currently owned by corporate insiders.
About The PNC Financial Services Group
(Free Report)
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company’s Retail Banking segment offers checking, savings, and money market accounts, as well as certificates of deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.
Featured Articles
Before you consider The PNC Financial Services Group, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and The PNC Financial Services Group wasn’t on the list.
While The PNC Financial Services Group currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we’ll send you MarketBeat’s list of the 10 best stocks to own in 2024 and why they should be in your portfolio.
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Source: marketbeat.com
