Bank of Jackson Hole Trust Purchases 576 Shares of The PNC Financial Services Group, Inc $PNC

Bank of Jackson Hole Trust raised its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 25.9% in the second quarter, HoldingsChannel reports. The firm owned 2,801 shares of the financial services provider’s stock after buying an additional 576 shares during the quarter. Bank of Jackson Hole Trust’s holdings in The PNC Financial Services Group were worth $522,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of The PNC Financial Services Group by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 37,965,619 shares of the financial services provider’s stock valued at $6,673,217,000 after purchasing an additional 248,252 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of The PNC Financial Services Group by 26.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,502,467 shares of the financial services provider’s stock valued at $1,670,249,000 after purchasing an additional 1,964,157 shares during the period. Ameriprise Financial Inc. grew its stake in shares of The PNC Financial Services Group by 0.5% during the 1st quarter. Ameriprise Financial Inc. now owns 4,807,684 shares of the financial services provider’s stock valued at $844,967,000 after acquiring an additional 24,588 shares during the period. Bank of New York Mellon Corp grew its stake in shares of The PNC Financial Services Group by 4.8% during the 1st quarter. Bank of New York Mellon Corp now owns 4,056,797 shares of the financial services provider’s stock valued at $713,063,000 after acquiring an additional 186,249 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of The PNC Financial Services Group by 41.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,818,090 shares of the financial services provider’s stock valued at $495,336,000 after acquiring an additional 830,440 shares during the period. 83.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,080 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $186.97, for a total value of $201,927.60. Following the completion of the transaction, the executive vice president directly owned 27,335 shares in the company, valued at $5,110,824.95. This represents a 3.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.41% of the stock is owned by insiders.

The PNC Financial Services Group Trading Down 1.0%

PNC stock opened at $183.09 on Wednesday. The PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-year high of $216.26. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $72.10 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 1.29 and a beta of 1.10. The business has a 50 day simple moving average of $196.84 and a two-hundred day simple moving average of $185.45.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, topping the consensus estimate of $4.05 by $0.30. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The business had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.82 billion. During the same period in the prior year, the company posted $3.49 EPS. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. Research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Oppenheimer reiterated an “outperform” rating and set a $240.00 price objective (up from $235.00) on shares of The PNC Financial Services Group in a research note on Thursday, October 16th. Keefe, Bruyette & Woods upgraded The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $185.00 to $212.00 in a research note on Wednesday, July 9th. Citigroup boosted their price objective on The PNC Financial Services Group from $217.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. Truist Financial boosted their price objective on The PNC Financial Services Group from $201.00 to $210.00 and gave the company a “hold” rating in a research note on Wednesday, September 24th. Finally, The Goldman Sachs Group boosted their price objective on The PNC Financial Services Group from $178.00 to $196.00 and gave the company a “neutral” rating in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.47.

About The PNC Financial Services Group

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.