RFG Advisory LLC Boosts Stock Holdings in The PNC Financial Services Group, Inc $PNC

RFG Advisory LLC boosted its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 8.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,389 shares of the financial services provider’s stock after purchasing an additional 111 shares during the quarter. RFG Advisory LLC’s holdings in The PNC Financial Services Group were worth $259,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Ignite Planners LLC increased its holdings in The PNC Financial Services Group by 8.4% in the first quarter. Ignite Planners LLC now owns 1,628 shares of the financial services provider’s stock valued at $262,000 after buying an additional 126 shares during the last quarter. Exane Asset Management increased its holdings in The PNC Financial Services Group by 32.9% in the first quarter. Exane Asset Management now owns 149,783 shares of the financial services provider’s stock valued at $28,434,000 after buying an additional 37,110 shares during the last quarter. Smith Salley Wealth Management increased its holdings in The PNC Financial Services Group by 15.6% in the first quarter. Smith Salley Wealth Management now owns 72,844 shares of the financial services provider’s stock valued at $12,804,000 after buying an additional 9,836 shares during the last quarter. United Community Bank increased its holdings in The PNC Financial Services Group by 687.0% in the first quarter. United Community Bank now owns 12,325 shares of the financial services provider’s stock valued at $2,166,000 after buying an additional 10,759 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC increased its holdings in The PNC Financial Services Group by 4.5% in the first quarter. Kingswood Wealth Advisors LLC now owns 2,802 shares of the financial services provider’s stock valued at $493,000 after buying an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

PNC has been the subject of several research analyst reports. Morgan Stanley upped their price objective on shares of 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. Truist Financial upped their price objective on shares of The PNC Financial Services Group from $201.00 to $210.00 and gave the company a “hold” rating in a research note on Wednesday, September 24th. Oppenheimer restated an “outperform” rating and issued a $240.00 price objective (up previously from $235.00) on shares of The PNC Financial Services Group in a research note on Thursday. Piper Sandler upgraded shares of 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. Finally, Keefe, Bruyette & Woods upgraded shares of The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $185.00 to $212.00 in a research note on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, The PNC Financial Services Group presently has an average rating of “Moderate Buy” and an average price target of $218.47.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $179.30 on Monday. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The company has a market capitalization of $70.61 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 1.25 and a beta of 1.10. The firm has a 50-day simple moving average of $198.10 and a 200-day simple moving average of $184.01. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.81 and a current ratio of 0.81.

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, topping the consensus estimate of $4.05 by $0.30. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The business had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.82 billion. During the same quarter in the prior year, the firm earned $3.49 earnings per share. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, equities research analysts anticipate 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th will be paid a dividend of $1.70 per share. The ex-dividend date is Tuesday, October 14th. This represents a $6.80 annualized dividend and a dividend yield of 3.8%. The PNC Financial Services Group’s dividend payout ratio is 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.