Czech National Bank increased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 47.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 69,606 shares of the financial services provider’s stock after purchasing an additional 22,359 shares during the period. Czech National Bank’s holdings in The PNC Financial Services Group were worth $8,546,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Argent Trust Co grew its holdings in The PNC Financial Services Group by 28.6% during the first quarter. Argent Trust Co now owns 8,334 shares of the financial services provider’s stock worth $1,059,000 after purchasing an additional 1,853 shares during the period. Comerica Bank bought a new stake in shares of The PNC Financial Services Group during the second quarter worth approximately $5,594,000. EA Series Trust bought a new stake in shares of The PNC Financial Services Group during the second quarter worth approximately $440,000. Border to Coast Pensions Partnership Ltd boosted its holdings in shares of The PNC Financial Services Group by 20.2% during the first quarter. Border to Coast Pensions Partnership Ltd now owns 106,703 shares of the financial services provider’s stock worth $13,562,000 after acquiring an additional 17,938 shares during the period. Finally, Handelsbanken Fonder AB raised its position in shares of The PNC Financial Services Group by 1.0% in the second quarter. Handelsbanken Fonder AB now owns 109,318 shares of the financial services provider’s stock valued at $13,769,000 after buying an additional 1,098 shares in the last quarter. Institutional investors own 80.14% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on the stock. HSBC assumed coverage on shares of The PNC Financial Services Group in a research report on Thursday, September 7th. They issued a “reduce” rating and a $110.00 price target for the company. Morgan Stanley lowered their price objective on shares of The PNC Financial Services Group from $144.00 to $142.00 and set an “underweight” rating for the company in a research report on Tuesday, October 3rd. Piper Sandler boosted their price objective on shares of The PNC Financial Services Group from $125.00 to $143.00 and gave the company a “neutral” rating in a research report on Friday, December 8th. Royal Bank of Canada restated an “outperform” rating and set a $140.00 price objective on shares of The PNC Financial Services Group in a research report on Tuesday, October 24th. Finally, Odeon Capital Group raised shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $153.38 target price on the stock in a research note on Thursday, December 14th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and an average price target of $149.10.
Check Out Our Latest Research Report on PNC
Insiders Place Their Bets
In other news, EVP Guild Deborah sold 1,533 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $132.51, for a total transaction of $203,137.83. Following the completion of the sale, the executive vice president now owns 17,092 shares in the company, valued at $2,264,860.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.39% of the stock is currently owned by corporate insiders.
The PNC Financial Services Group Price Performance
The PNC Financial Services Group stock opened at $155.00 on Thursday. The stock’s 50 day moving average is $131.37 and its 200 day moving average is $127.24. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $61.74 billion, a P/E ratio of 10.76, a P/E/G ratio of 1.39 and a beta of 1.17. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $169.07.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last posted its quarterly earnings data on Friday, October 13th. The financial services provider reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.50. The company had revenue of $5.23 billion for the quarter, compared to analyst estimates of $5.32 billion. The PNC Financial Services Group had a return on equity of 12.91% and a net margin of 20.39%. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $3.78 earnings per share. As a group, research analysts expect that The PNC Financial Services Group, Inc. will post 13.74 EPS for the current year.
The PNC Financial Services Group Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Sunday, November 5th. Shareholders of record on Tuesday, October 17th were issued a $1.55 dividend. The ex-dividend date of this dividend was Monday, October 16th. This represents a $6.20 dividend on an annualized basis and a yield of 4.00%. The PNC Financial Services Group’s payout ratio is currently 43.03%.
The PNC Financial Services Group Company Profile
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.
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