The PNC Financial Services Group, Inc. (NYSE:PNC) Stake Boosted by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc increased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 9.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,410 shares of the financial services provider’s stock after acquiring an additional 363 shares during the period. Pinnacle Financial Partners Inc’s holdings in The PNC Financial Services Group were worth $833,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Winebrenner Capital Management LLC purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter worth about $1,333,000. Crumly & Associates Inc. increased its holdings in The PNC Financial Services Group by 4.5% in the fourth quarter. Crumly & Associates Inc. now owns 3,149 shares of the financial services provider’s stock worth $607,000 after buying an additional 137 shares during the last quarter. Transcend Capital Advisors LLC raised its position in The PNC Financial Services Group by 1.8% during the fourth quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider’s stock valued at $616,000 after acquiring an additional 55 shares in the last quarter. Bradley Foster & Sargent Inc. CT lifted its stake in The PNC Financial Services Group by 16.4% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 11,694 shares of the financial services provider’s stock valued at $2,255,000 after acquiring an additional 1,645 shares during the last quarter. Finally, Paradigm Asset Management Co. LLC grew its position in The PNC Financial Services Group by 1,055.6% in the fourth quarter. Paradigm Asset Management Co. LLC now owns 10,400 shares of the financial services provider’s stock worth $2,006,000 after acquiring an additional 9,500 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $209.24, for a total value of $259,876.08. Following the sale, the chief executive officer now directly owns 532,523 shares in the company, valued at $111,425,112.52. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last three months, insiders sold 12,420 shares of company stock valued at $2,474,722. Company insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

PNC has been the topic of a number of recent research reports. Piper Sandler raised their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Stephens restated an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a report on Friday, January 17th. Barclays upped their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. The Goldman Sachs Group raised their price objective on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, Morgan Stanley boosted their target price on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a report on Friday, January 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and a consensus price target of $205.00.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock opened at $187.90 on Monday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $74.55 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 1.55 and a beta of 1.16. The firm has a fifty day moving average price of $196.08 and a two-hundred day moving average price of $191.98. The PNC Financial Services Group, Inc. has a fifty-two week low of $143.52 and a fifty-two week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the prior year, the business earned $3.16 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. Analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.41%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 46.55%.

The PNC Financial Services Group Company 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.