The PNC Financial Services Group, Inc $PNC Shares Purchased by Concord Wealth Partners

Concord Wealth Partners boosted its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 144.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 169 shares of the financial services provider’s stock after purchasing an additional 100 shares during the period. Concord Wealth Partners’ holdings in The PNC Financial Services Group were worth $32,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Brighton Jones LLC raised its stake in The PNC Financial Services Group by 32.2% during the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock valued at $779,000 after purchasing an additional 984 shares during the period. GAMMA Investing LLC increased its stake in shares of The PNC Financial Services Group by 10.3% in the first quarter. GAMMA Investing LLC now owns 6,537 shares of the financial services provider’s stock worth $1,149,000 after acquiring an additional 608 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of The PNC Financial Services Group in the first quarter worth $35,000. Dynamic Advisor Solutions LLC increased its stake in shares of The PNC Financial Services Group by 7.2% in the first quarter. Dynamic Advisor Solutions LLC now owns 4,494 shares of the financial services provider’s stock worth $790,000 after acquiring an additional 301 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in shares of The PNC Financial Services Group by 221.2% in the first quarter. Exchange Traded Concepts LLC now owns 1,333 shares of the financial services provider’s stock worth $234,000 after acquiring an additional 918 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

PNC has been the topic of a number of research reports. Oppenheimer dropped their price target on shares of The PNC Financial Services Group from $238.00 to $235.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 23rd. Bank of America upped their price target on shares of The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $186.00 to $206.00 and gave the stock an “underweight” rating in a report on Monday, September 29th. Wells Fargo & Company upped their price objective on shares of The PNC Financial Services Group from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, October 3rd. Finally, Wall Street Zen upgraded shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $218.21.

The PNC Financial Services Group Stock Up 1.5%

PNC stock opened at $189.71 on Wednesday. The company has a 50-day moving average of $198.61 and a two-hundred day moving average of $183.77. The stock has a market capitalization of $74.71 billion, a price-to-earnings ratio of 12.98, a price-to-earnings-growth ratio of 1.30 and a beta of 1.10. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.80 and a quick ratio of 0.80. 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 data on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, beating analysts’ consensus estimates of $3.56 by $0.29. The business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $5.61 billion. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.39 earnings per share. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.6%. The PNC Financial Services Group’s dividend payout ratio is currently 46.51%.

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.