North Dallas Bank & Trust Co. Invests $767,000 in The PNC Financial Services Group, Inc $PNC

North Dallas Bank & Trust Co. bought a new stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,675 shares of the financial services provider’s stock, valued at approximately $767,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Focus Partners Advisor Solutions LLC grew its holdings in shares of The PNC Financial Services Group by 57.1% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 49,094 shares of the financial services provider’s stock valued at $10,247,000 after purchasing an additional 17,835 shares during the last quarter. TIAA Trust National Association grew its holdings in shares of The PNC Financial Services Group by 332.3% during the 4th quarter. TIAA Trust National Association now owns 76,995 shares of the financial services provider’s stock valued at $16,071,000 after purchasing an additional 59,183 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of The PNC Financial Services Group by 87.8% during the 4th quarter. Cerity Partners LLC now owns 449,781 shares of the financial services provider’s stock valued at $93,883,000 after purchasing an additional 210,245 shares during the last quarter. LPL Financial LLC grew its holdings in shares of The PNC Financial Services Group by 14.0% during the 4th quarter. LPL Financial LLC now owns 909,716 shares of the financial services provider’s stock valued at $189,885,000 after purchasing an additional 111,477 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of The PNC Financial Services Group by 0.9% during the 4th quarter. Franklin Resources Inc. now owns 8,031,778 shares of the financial services provider’s stock valued at $1,676,473,000 after purchasing an additional 71,606 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

Insider Activity

In other news, EVP Stephanie Novosel sold 1,800 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the sale, the executive vice president directly owned 3,107 shares of the company’s stock, valued at approximately $710,664.11. This trade represents a 36.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Andrew T. Feldstein sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the completion of the sale, the director directly owned 10,749 shares of the company’s stock, valued at approximately $2,370,906.93. This represents a 80.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Trading Up 1.9%

Shares of PNC opened at $231.51 on Wednesday. The stock has a market capitalization of $92.97 billion, a P/E ratio of 13.45, a PEG ratio of 0.94 and a beta of 0.92. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05. The firm has a fifty day simple moving average of $219.13 and a two-hundred day simple moving average of $215.28. The PNC Financial Services Group, Inc has a twelve month low of $172.73 and a twelve month high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last announced 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 business had revenue of $6.17 billion during the quarter, compared to analysts’ expectations 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 firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.51 EPS. On average, research analysts anticipate that The PNC Financial Services Group, Inc will post 18.93 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Tuesday, April 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 39.51%.

Wall Street Analyst Weigh In

PNC has been the topic of several recent research reports. Truist Financial increased their target price on shares of The PNC Financial Services Group from $234.00 to $245.00 and gave the company a “hold” rating in a report on Thursday, April 16th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $235.00 target price on shares of The PNC Financial Services Group in a report on Wednesday, April 15th. Barclays increased their target price on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Bank of America increased their target price on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.11.

The PNC Financial Services Group Company Profile

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.