Schmidt P J Investment Management Inc. Acquires 286 Shares of The PNC Financial Services Group, Inc $PNC

Schmidt P J Investment Management Inc. grew its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 4.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,565 shares of the financial services provider’s stock after buying an additional 286 shares during the period. Schmidt P J Investment Management Inc.’s holdings in The PNC Financial Services Group were worth $1,224,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Ignite Planners LLC lifted its holdings in shares of The PNC Financial Services Group by 8.4% in the 1st quarter. Ignite Planners LLC now owns 1,628 shares of the financial services provider’s stock worth $262,000 after purchasing an additional 126 shares in the last quarter. Exane Asset Management lifted its holdings in shares of The PNC Financial Services Group by 32.9% in the 1st quarter. Exane Asset Management now owns 149,783 shares of the financial services provider’s stock worth $28,434,000 after purchasing an additional 37,110 shares in the last quarter. Smith Salley Wealth Management lifted its holdings in shares of The PNC Financial Services Group by 15.6% in the 1st quarter. Smith Salley Wealth Management now owns 72,844 shares of the financial services provider’s stock worth $12,804,000 after purchasing an additional 9,836 shares in the last quarter. United Community Bank lifted its holdings in shares of The PNC Financial Services Group by 687.0% in the 1st quarter. United Community Bank now owns 12,325 shares of the financial services provider’s stock worth $2,166,000 after purchasing an additional 10,759 shares in the last quarter. Finally, Truist Financial Corp lifted its holdings in shares of The PNC Financial Services Group by 2.1% in the 1st quarter. Truist Financial Corp now owns 1,156,136 shares of the financial services provider’s stock worth $203,214,000 after purchasing an additional 23,502 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Evercore ISI raised their price objective on 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. Piper Sandler upgraded The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $211.00 to $220.00 in a research note on Thursday, October 9th. 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. Stephens restated an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Wednesday, September 10th. Finally, Raymond James Financial raised their price objective on The PNC Financial Services Group from $220.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, September 19th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $218.47.

The PNC Financial Services Group Trading Up 2.4%

NYSE PNC opened at $186.38 on Monday. The stock has a market capitalization of $73.40 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 1.30 and a beta of 1.10. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.81. The business’s fifty day moving average is $197.18 and its 200-day moving average is $185.06.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, topping analysts’ consensus estimates of $4.05 by $0.30. The company had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.82 billion. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business posted $3.49 EPS. Equities research analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

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. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Tuesday, October 14th. The PNC Financial Services Group’s payout ratio is presently 43.93%.

The PNC Financial Services Group Company 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.