Whittier Trust Co. Buys 18,621 Shares of The PNC Financial Services Group, Inc $PNC

Whittier Trust Co. raised its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 7.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 254,831 shares of the financial services provider’s stock after buying an additional 18,621 shares during the quarter. Whittier Trust Co.’s holdings in The PNC Financial Services Group were worth $54,315,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Monetary Solutions Ltd bought a new position in The PNC Financial Services Group during the 4th quarter worth approximately $25,000. Quarry LP acquired a new stake in The PNC Financial Services Group in the third quarter worth $25,000. Modus Advisors LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter worth $29,000. Financial Life Planners bought a new position in shares of The PNC Financial Services Group during the first quarter worth $31,000. Finally, Kemnay Advisory Services Inc. bought a new position in shares of The PNC Financial Services Group during the fourth quarter worth $32,000. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Stock Performance

PNC opened at $249.13 on Monday. The business’s 50-day moving average price is $226.89 and its two-hundred day moving average price is $220.69. The PNC Financial Services Group, Inc has a 1 year low of $176.88 and a 1 year high of $254.00. The company has a market capitalization of $100.04 billion, a price-to-earnings ratio of 14.48, a P/E/G ratio of 1.02 and a beta of 0.91. 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 PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, beating analysts’ consensus estimates of $3.92 by $0.40. The company had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.51 earnings per share. Equities analysts expect that The PNC Financial Services Group, Inc will post 18.82 EPS for the current fiscal year.

Insider Activity at The PNC Financial Services Group

In other news, EVP Michael Duane Thomas sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $238.14, for a total transaction of $357,210.00. Following the completion of the transaction, the executive vice president directly owned 5,059 shares of the company’s stock, valued at $1,204,750.26. This trade represents a 22.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, May 26th. The shares were 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 owned 10,749 shares in the company, valued at $2,370,906.93. This trade represents a 80.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 48,300 shares of company stock valued at $10,694,574. 0.38% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PNC has been the subject of a number of recent analyst reports. Royal Bank Of Canada restated an “outperform” rating and issued a $235.00 price objective on shares of The PNC Financial Services Group in a research report on Wednesday, April 15th. Truist Financial lifted their target price on The PNC Financial Services Group from $245.00 to $257.00 and gave the stock a “hold” rating in a report on Friday, June 26th. Barclays boosted their target price on The PNC Financial Services Group from $271.00 to $277.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of The PNC Financial Services Group in a research report on Friday, March 27th. Finally, Oppenheimer lifted their price objective on The PNC Financial Services Group from $268.00 to $271.00 and gave the company an “outperform” rating in a report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.71.

The PNC Financial Services Group 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.