Mutual Advisors LLC Grows Position in The PNC Financial Services Group, Inc $PNC

Mutual Advisors LLC boosted its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 11.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,858 shares of the financial services provider’s stock after purchasing an additional 196 shares during the period. Mutual Advisors LLC’s holdings in The PNC Financial Services Group were worth $364,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PNC. Saudi Central Bank bought a new stake in The PNC Financial Services Group during the first quarter valued at about $27,000. Concord Wealth Partners increased its holdings in shares of The PNC Financial Services Group by 144.9% in the second quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 100 shares during the last quarter. Cornerstone Planning Group LLC increased its holdings in shares of The PNC Financial Services Group by 50.8% in the first quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 65 shares during the last quarter. WPG Advisers LLC bought a new stake in The PNC Financial Services Group during the first quarter worth approximately $36,000. Finally, Fourth Dimension Wealth LLC bought a new stake in The PNC Financial Services Group during the first quarter worth approximately $41,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PNC. Wolfe Research reissued a “peer perform” rating on shares of The PNC Financial Services Group in a research note on Thursday, July 3rd. Raymond James Financial boosted their price objective on The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, September 19th. Truist Financial boosted their price objective on The PNC Financial Services Group from $201.00 to $210.00 and gave the stock a “hold” rating in a research note on Wednesday, September 24th. Wall Street Zen upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Finally, Bank of America boosted their target price on The PNC Financial Services Group from $223.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.47.

The PNC Financial Services Group Stock Up 1.6%

Shares of NYSE PNC opened at $182.26 on Tuesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market capitalization of $71.78 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 1.25 and a beta of 1.10. The stock has a 50 day moving average price of $197.97 and a 200 day moving average price of $184.22. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.05 by $0.30. The firm had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.82 billion. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The PNC Financial Services Group’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.49 earnings per share. Sell-side analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.7%. The PNC Financial Services Group’s payout ratio is 43.93%.

The PNC Financial Services Group 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 time 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.