Moody National Bank Trust Division lessened its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) by 1.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 19,967 shares of the financial services provider’s stock after selling 216 shares during the period. Moody National Bank Trust Division’s holdings in The PNC Financial Services Group were worth $3,683,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Gradient Investments LLC lifted its holdings in The PNC Financial Services Group by 12.0% during the fourth quarter. Gradient Investments LLC now owns 476 shares of the financial services provider’s stock valued at $95,000 after purchasing an additional 51 shares in the last quarter. Manchester Capital Management LLC lifted its stake in shares of The PNC Financial Services Group by 1.5% in the fourth quarter. Manchester Capital Management LLC now owns 3,652 shares of the financial services provider’s stock worth $732,000 after buying an additional 53 shares in the last quarter. Cetera Investment Advisers lifted its stake in shares of The PNC Financial Services Group by 0.4% in the fourth quarter. Cetera Investment Advisers now owns 14,417 shares of the financial services provider’s stock worth $2,891,000 after buying an additional 53 shares in the last quarter. Canal Capital Management LLC lifted its stake in shares of The PNC Financial Services Group by 0.6% in the fourth quarter. Canal Capital Management LLC now owns 9,922 shares of the financial services provider’s stock worth $1,990,000 after buying an additional 55 shares in the last quarter. Finally, Morningstar Investment Services LLC lifted its stake in shares of The PNC Financial Services Group by 5.0% in the fourth quarter. Morningstar Investment Services LLC now owns 1,164 shares of the financial services provider’s stock worth $233,000 after buying an additional 55 shares in the last quarter. 83.54% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have commented on PNC shares. Morgan Stanley reduced their target price on shares of The PNC Financial Services Group from $209.00 to $196.00 and set an “underweight” rating on the stock in a research note on Monday, March 28th. Wolfe Research dropped their price objective 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. Piper Sandler dropped their price objective 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. Raymond James lowered 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, Argus lowered their price target on shares of The PNC Financial Services Group from $245.00 to $220.00 in a report on Monday, April 18th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $215.29.
PNC stock traded up $0.35 on Wednesday, hitting $156.84. The company’s stock had a trading volume of 7,631 shares, compared to its average volume of 2,044,859. The firm has a 50 day moving average of $166.55 and a two-hundred day moving average of $188.26. The PNC Financial Services Group, Inc. has a 1 year low of $149.51 and a 1 year high of $228.14. The stock has a market cap of $64.87 billion, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of 2.13 and a beta of 1.24. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.54.
The PNC Financial Services Group (NYSE:PNC – Get Rating) last posted its quarterly earnings results on Thursday, April 14th. The financial services provider reported $3.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.78 by $0.51. The PNC Financial Services Group had a net margin of 26.14% and a return on equity of 12.43%. The business had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.72 billion. During the same period in the prior year, the company posted $4.10 EPS. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, equities analysts forecast that The PNC Financial Services Group, Inc. will post 14.19 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 5th. Investors of record on Wednesday, April 13th were paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 3.83%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Tuesday, April 12th. The PNC Financial Services Group’s dividend payout ratio is presently 50.76%.
In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,257 shares of the company’s 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 transaction, the executive vice president now directly owns 23,360 shares in the company, valued at approximately $3,984,281.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert A. Niblock bought 2,000 shares of The PNC Financial Services Group stock in a transaction on Friday, May 6th. The stock was purchased at an average price of $167.07 per share, for a total transaction of $334,140.00. Following the completion of the acquisition, the director now owns 6,063 shares in the company, valued at approximately $1,012,945.41. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by corporate insiders.
The PNC Financial Services Group Company Profile (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.
Further Reading
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Source: defenseworld.net
