The PNC Financial Services Group, Inc $PNC Shares Sold by Raiffeisen Bank International AG

Raiffeisen Bank International AG decreased its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 86.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,464 shares of the financial services provider’s stock after selling 21,922 shares during the quarter. Raiffeisen Bank International AG’s holdings in The PNC Financial Services Group were worth $632,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. IMG Wealth Management Inc. acquired a new stake in The PNC Financial Services Group during the 2nd quarter valued at $27,000. Saudi Central Bank purchased a new position in The PNC Financial Services Group in the 1st quarter valued at about $27,000. Concord Wealth Partners grew its stake in shares of 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 valued at $32,000 after acquiring an additional 100 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of The PNC Financial Services Group during the second quarter worth about $37,000. Finally, WPG Advisers LLC acquired a new position in shares of The PNC Financial Services Group in the first quarter worth about $36,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PNC. Wells Fargo & Company raised their price objective on The PNC Financial Services Group from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, October 3rd. Oppenheimer reissued an “outperform” rating and set a $240.00 price target (up previously from $235.00) on shares of The PNC Financial Services Group in a research report on Thursday, October 16th. Morgan Stanley upped their price target on shares of The PNC Financial Services Group from $186.00 to $206.00 and gave the company an “underweight” rating in a report on Monday, September 29th. Truist Financial raised their price objective on shares of The PNC Financial Services Group from $201.00 to $210.00 and gave the stock a “hold” rating in a report on Wednesday, September 24th. Finally, Evercore ISI upped their target price on shares of 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 research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.47.

Insider Buying and Selling

In other news, EVP Michael Duane Thomas sold 1,000 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total transaction of $183,570.00. Following the completion of the transaction, the executive vice president owned 5,802 shares of the company’s stock, valued at approximately $1,065,073.14. The trade was a 14.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Guild Deborah sold 1,080 shares of the company’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $186.97, for a total transaction of $201,927.60. Following the transaction, the executive vice president owned 27,335 shares of the company’s stock, valued at $5,110,824.95. This represents a 3.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,151 shares of company stock worth $400,092 over the last quarter. Insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Stock Up 0.6%

Shares of NYSE:PNC opened at $180.20 on Wednesday. The company’s fifty day moving average is $190.79 and its two-hundred day moving average is $188.46. 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, Inc has a 1-year low of $145.12 and a 1-year high of $216.26. The stock has a market capitalization of $70.66 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 1.26 and a beta of 1.12.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, beating analysts’ consensus estimates of $4.05 by $0.30. The business 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 net margin of 19.30% and a return on equity of 11.47%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.49 EPS. Equities analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Tuesday, October 14th. The PNC Financial Services Group’s dividend payout ratio is presently 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.