Peapack Gladstone Financial Corp Has $39.92 Million Stock Holdings in The PNC Financial Services Group, Inc $PNC

Peapack Gladstone Financial Corp decreased its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 4.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 191,226 shares of the financial services provider’s stock after selling 9,075 shares during the period. Peapack Gladstone Financial Corp’s holdings in The PNC Financial Services Group were worth $39,916,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of The PNC Financial Services Group by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider’s stock worth $8,114,168,000 after acquiring an additional 408,464 shares in the last quarter. State Street Corp boosted its position in shares of The PNC Financial Services Group by 0.5% during the 3rd quarter. State Street Corp now owns 17,242,132 shares of the financial services provider’s stock worth $3,464,462,000 after acquiring an additional 85,291 shares in the last quarter. Capital International Investors boosted its position in shares of The PNC Financial Services Group by 6.0% during the 3rd quarter. Capital International Investors now owns 10,835,687 shares of the financial services provider’s stock worth $2,177,318,000 after acquiring an additional 609,755 shares in the last quarter. Norges Bank acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter worth approximately $1,967,080,000. Finally, Geode Capital Management LLC boosted its position in shares of The PNC Financial Services Group by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 8,861,852 shares of the financial services provider’s stock worth $1,841,387,000 after acquiring an additional 30,078 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

PNC stock opened at $221.36 on Monday. The company has a 50 day simple moving average of $216.27 and a 200 day simple moving average of $213.24. The stock has a market cap of $88.89 billion, a price-to-earnings ratio of 12.86, a P/E/G ratio of 0.92 and a beta of 0.92. The PNC Financial Services Group, Inc has a 1 year low of $170.49 and a 1 year high of $243.94. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The business had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.21 billion. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the company earned $3.51 EPS. Research analysts anticipate that The PNC Financial Services Group, Inc will post 18.93 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.1%. The ex-dividend date was Tuesday, April 14th. The PNC Financial Services Group’s dividend payout ratio is 39.51%.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total value of $9,925,650.00. Following the completion of the transaction, the director directly owned 10,749 shares in the company, valued at approximately $2,370,906.93. This represents a 80.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on PNC. Truist Financial increased their price target on shares of The PNC Financial Services Group from $234.00 to $245.00 and gave the stock a “hold” rating in a research report on Thursday, April 16th. Royal Bank Of Canada reiterated an “outperform” rating and set a $235.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, April 15th. Barclays upped their price objective on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Oppenheimer upped their price objective on shares of The PNC Financial Services Group from $263.00 to $268.00 and gave the stock an “outperform” rating in a research report on Thursday, April 16th. Finally, JPMorgan Chase & Co. upped their price objective on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $243.11.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.