Chevy Chase Trust Holdings LLC Purchases 635 Shares of The PNC Financial Services Group, Inc $PNC

Chevy Chase Trust Holdings LLC increased its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 0.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 214,238 shares of the financial services provider’s stock after purchasing an additional 635 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of The PNC Financial Services Group worth $39,938,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Private Trust Co. NA boosted its stake in The PNC Financial Services Group by 1.5% in the 2nd quarter. Private Trust Co. NA now owns 10,715 shares of the financial services provider’s stock valued at $1,997,000 after buying an additional 163 shares in the last quarter. Applied Finance Capital Management LLC boosted its stake in The PNC Financial Services Group by 131.1% in the 2nd quarter. Applied Finance Capital Management LLC now owns 10,920 shares of the financial services provider’s stock valued at $2,036,000 after buying an additional 6,195 shares in the last quarter. Master S Wealth Management Inc. boosted its stake in The PNC Financial Services Group by 28.8% in the 2nd quarter. Master S Wealth Management Inc. now owns 2,667 shares of the financial services provider’s stock valued at $497,000 after buying an additional 597 shares in the last quarter. Nordea Investment Management AB boosted its stake in The PNC Financial Services Group by 6.8% in the 2nd quarter. Nordea Investment Management AB now owns 34,877 shares of the financial services provider’s stock valued at $6,524,000 after buying an additional 2,210 shares in the last quarter. Finally, Stableford Capital II LLC acquired a new stake in The PNC Financial Services Group in the 2nd quarter valued at $657,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analysts Set New Price Targets

PNC has been the topic of several recent analyst reports. Raymond James Financial boosted their price target on The PNC Financial Services Group from $220.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, September 19th. Bank of America boosted their price target on The PNC Financial Services Group from $223.00 to $226.00 and gave the company a “buy” rating in a research note on Thursday, July 17th. Keefe, Bruyette & Woods raised The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and boosted their price objective for the stock from $185.00 to $212.00 in a research note on Wednesday, July 9th. Piper Sandler raised 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 note on Thursday, October 9th. Finally, The Goldman Sachs Group boosted their price objective on The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, The PNC Financial Services Group currently has an average rating of “Moderate Buy” and a consensus price target of $218.47.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $179.30 on Friday. The firm has a market cap of $70.61 billion, a P/E ratio of 11.58, a P/E/G ratio of 1.24 and a beta of 1.10. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $216.26. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.80 and a current ratio of 0.81. The business’s fifty day moving average is $198.10 and its two-hundred day moving average is $183.81.

The PNC Financial Services Group (NYSE:PNC) last released its 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 company had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.82 billion. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.49 earnings per share. Equities research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced 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 is Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.8%. The PNC Financial Services Group’s payout ratio is presently 46.51%.

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.