Moors & Cabot Inc. Increases Stock Holdings in The PNC Financial Services Group, Inc $PNC

Moors & Cabot Inc. raised its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 10.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 35,656 shares of the financial services provider’s stock after purchasing an additional 3,374 shares during the quarter. Moors & Cabot Inc.’s holdings in The PNC Financial Services Group were worth $7,443,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Quarry LP purchased a new stake in The PNC Financial Services Group during the third quarter valued at approximately $25,000. Beacon Financial Strategies CORP bought a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $35,000. Cornerstone Planning Group LLC raised its holdings in The PNC Financial Services Group by 2,100.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 176 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 168 shares during the period. JPL Wealth Management LLC purchased a new position in The PNC Financial Services Group during the third quarter valued at $37,000. Finally, Financial Life Planners purchased a new stake in The PNC Financial Services Group in the third quarter worth about $39,000. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $219.94 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82. The stock has a market cap of $88.32 billion, a price-to-earnings ratio of 12.78, a price-to-earnings-growth ratio of 0.92 and a beta of 0.94. The firm has a 50-day moving average of $215.86 and a two-hundred day moving average of $212.99. The PNC Financial Services Group, Inc has a 1 year low of $170.49 and a 1 year high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, beating the consensus estimate of $3.92 by $0.40. The firm had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.21 billion. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The company’s revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.51 earnings per share. On average, research analysts forecast that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were paid a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.1%. The PNC Financial Services Group’s dividend payout ratio is 39.51%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Morgan Stanley boosted their price objective on The PNC Financial Services Group from $263.00 to $267.00 and gave the company an “equal weight” rating in a research note on Thursday, April 16th. Citigroup raised their price objective on The PNC Financial Services Group from $245.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Bank of America increased their price objective on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Truist Financial boosted their price objective on The PNC Financial Services Group from $234.00 to $245.00 and gave the stock a “hold” rating in a research note on Thursday, April 16th. Finally, Keefe, Bruyette & Woods boosted their target price on The PNC Financial Services Group from $247.00 to $253.00 and gave the company a “market perform” rating in a research report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $243.11.

Insider Buying and Selling

In other news, Director Andrew T. Feldstein sold 45,000 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total value of $9,925,650.00. Following the completion of the sale, the director owned 10,749 shares in the company, valued at approximately $2,370,906.93. The trade was a 80.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.38% of the company’s stock.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.