Sequoia Financial Advisors LLC Purchases 1,026 Shares of The PNC Financial Services Group, Inc $PNC

Sequoia Financial Advisors LLC raised its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 6.7% during the second quarter, Holdings Channel reports. The institutional investor owned 16,432 shares of the financial services provider’s stock after buying an additional 1,026 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in The PNC Financial Services Group were worth $3,063,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PNC. Vest Financial LLC grew its position in shares of The PNC Financial Services Group by 120.0% during the 2nd quarter. Vest Financial LLC now owns 110,739 shares of the financial services provider’s stock worth $20,644,000 after buying an additional 60,410 shares during the period. MGO One Seven LLC grew its position in shares of The PNC Financial Services Group by 5.2% during the 2nd quarter. MGO One Seven LLC now owns 22,737 shares of the financial services provider’s stock worth $4,239,000 after buying an additional 1,124 shares during the period. Welch Group LLC grew its position in shares of The PNC Financial Services Group by 5.3% during the 2nd quarter. Welch Group LLC now owns 2,976 shares of the financial services provider’s stock worth $555,000 after buying an additional 150 shares during the period. Bill Few Associates Inc. grew its position in shares of The PNC Financial Services Group by 1.7% during the 2nd quarter. Bill Few Associates Inc. now owns 12,198 shares of the financial services provider’s stock worth $2,274,000 after buying an additional 200 shares during the period. Finally, Hazlett Burt & Watson Inc. grew its position in shares of The PNC Financial Services Group by 227.7% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 17,891 shares of the financial services provider’s stock worth $3,332,000 after buying an additional 12,432 shares during the period. 83.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PNC shares. Keefe, Bruyette & Woods upgraded shares of The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $185.00 to $212.00 in a research report on Wednesday, July 9th. The Goldman Sachs Group lifted their price target on shares of The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 2nd. Wolfe Research reiterated a “peer perform” rating on shares of The PNC Financial Services Group in a research report on Thursday, July 3rd. Piper Sandler raised shares of The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $211.00 to $220.00 in a research note on Thursday, October 9th. Finally, UBS Group boosted their price objective on shares of The PNC Financial Services Group from $224.00 to $229.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.21.

The PNC Financial Services Group Stock Down 4.0%

Shares of NYSE PNC opened at $182.21 on Thursday. The stock has a market cap of $71.76 billion, a P/E ratio of 12.46, a P/E/G ratio of 1.32 and a beta of 1.10. The firm has a 50 day moving average price of $198.48 and a 200 day moving average price of $183.76. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.80 and a current 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 issued its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.05 by $0.30. The firm had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.82 billion. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.49 earnings per share. 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Tuesday, October 14th. The PNC Financial Services Group’s dividend payout ratio is 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.