The PNC Financial Services Group, Inc $PNC Shares Sold by Leeward Financial Partners LLC

Leeward Financial Partners LLC decreased its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 73.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,516 shares of the financial services provider’s stock after selling 9,552 shares during the quarter. Leeward Financial Partners LLC’s holdings in The PNC Financial Services Group were worth $655,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. AlphaStar Capital Management LLC acquired a new stake in The PNC Financial Services Group in the second quarter valued at approximately $997,000. Earned Wealth Advisors LLC purchased a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth approximately $530,000. IFG Advisory LLC lifted its position in shares of The PNC Financial Services Group by 2.0% during the 2nd quarter. IFG Advisory LLC now owns 4,981 shares of the financial services provider’s stock worth $928,000 after buying an additional 100 shares during the last quarter. Simon Quick Advisors LLC lifted its position in shares of The PNC Financial Services Group by 21.2% during the 2nd quarter. Simon Quick Advisors LLC now owns 2,233 shares of the financial services provider’s stock worth $416,000 after buying an additional 390 shares during the last quarter. Finally, Strs Ohio lifted its position in shares of The PNC Financial Services Group by 4.3% during the 2nd quarter. Strs Ohio now owns 146,382 shares of the financial services provider’s stock worth $27,289,000 after buying an additional 6,090 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Piper Sandler upgraded shares of The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $211.00 to $220.00 in a research report on Thursday, October 9th. Evercore ISI boosted their price objective on shares of The PNC Financial Services Group from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Cfra Research upgraded shares of The PNC Financial Services Group to a “moderate buy” rating in a research report on Thursday, October 16th. Oppenheimer restated an “outperform” rating and set a $240.00 price objective (up previously from $235.00) on shares of The PNC Financial Services Group in a research report on Thursday, October 16th. Finally, Truist Financial boosted their price objective on shares of The PNC Financial Services Group from $201.00 to $210.00 and gave the stock a “hold” rating in a research report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Moderate Buy” and an average target price of $218.47.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,080 shares of the company’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $186.97, for a total value of $201,927.60. Following the transaction, the executive vice president directly owned 27,335 shares in the company, valued at approximately $5,110,824.95. This represents a 3.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $182.66 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.06. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The stock has a market cap of $71.93 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 1.26 and a beta of 1.10. The firm’s fifty day simple moving average is $195.95 and its 200-day simple moving average is $185.83.

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 analysts’ consensus estimates of $4.05 by $0.30. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The business had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.82 billion. During the same period in the prior year, the company posted $3.49 EPS. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. Analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

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

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.