The PNC Financial Services Group, Inc $PNC Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. lessened its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 1.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 108,963 shares of the financial services provider’s stock after selling 1,367 shares during the quarter. D.A. Davidson & CO.’s holdings in The PNC Financial Services Group were worth $20,313,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Avior Wealth Management LLC grew its position in shares of The PNC Financial Services Group by 4.5% in the 2nd quarter. Avior Wealth Management LLC now owns 1,213 shares of the financial services provider’s stock worth $226,000 after acquiring an additional 52 shares in the last quarter. Rockland Trust Co. grew its position in shares of The PNC Financial Services Group by 0.5% in the 2nd quarter. Rockland Trust Co. now owns 10,499 shares of the financial services provider’s stock worth $1,957,000 after acquiring an additional 53 shares in the last quarter. Almanack Investment Partners LLC. grew its position in shares of The PNC Financial Services Group by 2.3% in the 2nd quarter. Almanack Investment Partners LLC. now owns 2,433 shares of the financial services provider’s stock worth $454,000 after acquiring an additional 55 shares in the last quarter. Rosenberg Matthew Hamilton grew its position in shares of The PNC Financial Services Group by 15.0% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 429 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 56 shares in the last quarter. Finally, Kestra Investment Management LLC grew its position in shares of The PNC Financial Services Group by 11.4% in the 1st quarter. Kestra Investment Management LLC now owns 566 shares of the financial services provider’s stock worth $99,000 after acquiring an additional 58 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Keefe, Bruyette & Woods upgraded The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $185.00 to $212.00 in a research report on Wednesday, July 9th. Oppenheimer reiterated an “outperform” rating and issued a $240.00 target price (up previously from $235.00) on shares of The PNC Financial Services Group in a research report on Thursday, October 16th. Piper Sandler upgraded The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $211.00 to $220.00 in a research report on Thursday, October 9th. Raymond James Financial raised their price target on The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, September 19th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $218.47.

The PNC Financial Services Group Stock Down 0.2%

Shares of The PNC Financial Services Group stock opened at $181.83 on Wednesday. The business’s fifty day moving average price is $197.78 and its two-hundred day moving average price is $184.20. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $71.61 billion, a P/E ratio of 11.75, a PEG ratio of 1.27 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 PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, beating the consensus estimate of $4.05 by $0.30. The firm 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 revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.49 EPS. As a group, research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $6.80 annualized dividend and a yield of 3.7%. The PNC Financial Services Group’s payout ratio is presently 43.93%.

About The PNC Financial Services Group

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.