Dumont & Blake Investment Advisors LLC Has $1.47 Million Position in The PNC Financial Services Group, Inc $PNC

Dumont & Blake Investment Advisors LLC lessened its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 1.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 7,876 shares of the financial services provider’s stock after selling 100 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in The PNC Financial Services Group were worth $1,468,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Saudi Central Bank bought a new stake in The PNC Financial Services Group during the first quarter worth about $27,000. Concord Wealth Partners raised its holdings in The PNC Financial Services Group by 144.9% during the second quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 100 shares in the last quarter. Cornerstone Planning Group LLC raised its holdings in The PNC Financial Services Group by 50.8% during the first quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 65 shares in the last quarter. WPG Advisers LLC bought a new stake in The PNC Financial Services Group during the first quarter worth about $36,000. Finally, Fourth Dimension Wealth LLC bought a new stake in The PNC Financial Services Group during the first quarter worth about $41,000. Institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on PNC. Stephens reiterated an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a report on Wednesday, September 10th. The Goldman Sachs Group upped their price objective on The PNC Financial Services Group from $178.00 to $196.00 and gave the company a “neutral” rating in a research note on Wednesday, July 2nd. Piper Sandler upgraded The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $211.00 to $220.00 in a research note on Thursday, October 9th. Morgan Stanley upped their price objective on The PNC Financial Services Group from $186.00 to $206.00 and gave the company an “underweight” rating in a research note on Monday, September 29th. Finally, Evercore ISI upped their price objective on The PNC Financial Services Group from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, The PNC Financial Services Group presently has an average rating of “Moderate Buy” and a consensus target price of $218.47.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $179.30 on Friday. The firm has a market cap of $70.61 billion, a P/E ratio of 11.58, a price-to-earnings-growth ratio of 1.24 and a beta of 1.10. The PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-year high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.06. The business’s 50 day moving average is $198.10 and its 200-day moving average is $183.85.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.05 by $0.30. The business had revenue of $5.92 billion for 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.49 earnings per share. Equities research analysts predict that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Investors 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 yield of 3.8%. The PNC Financial Services Group’s dividend payout ratio is currently 43.93%.

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.