The PNC Financial Services Group, Inc $PNC Shares Bought by Smith Salley Wealth Management

Smith Salley Wealth Management lifted its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 3.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 77,578 shares of the financial services provider’s stock after buying an additional 2,471 shares during the quarter. Smith Salley Wealth Management’s holdings in The PNC Financial Services Group were worth $15,588,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PNC. IMG Wealth Management Inc. acquired a new position in The PNC Financial Services Group in the 2nd quarter valued at $27,000. Concord Wealth Partners grew its position in shares of The PNC Financial Services Group by 144.9% in the second quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 100 shares during the period. FNY Investment Advisers LLC acquired a new position in The PNC Financial Services Group in the second quarter valued at $37,000. True Wealth Design LLC lifted its position in The PNC Financial Services Group by 1,133.3% during the second quarter. True Wealth Design LLC now owns 222 shares of the financial services provider’s stock worth $41,000 after buying an additional 204 shares during the period. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in The PNC Financial Services Group in the 2nd quarter worth about $50,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PNC shares. Truist Financial upped their price objective on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a research note on Thursday, December 18th. Keefe, Bruyette & Woods upped their price target on shares of The PNC Financial Services Group from $215.00 to $228.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 17th. Wells Fargo & Company lifted their price target on shares of The PNC Financial Services Group from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, October 3rd. Cfra Research raised shares of The PNC Financial Services Group to a “moderate buy” rating in a research note on Thursday, October 16th. Finally, Citigroup increased their target price on The PNC Financial Services Group from $217.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $219.11.

Insider Activity

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,000 shares of The PNC Financial Services Group stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total transaction of $183,570.00. Following the sale, the executive vice president owned 5,802 shares of the company’s stock, valued at $1,065,073.14. The trade was a 14.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Guild Deborah sold 1,080 shares of the stock in a transaction on Friday, October 24th. The stock was sold at an average price of $186.97, for a total value of $201,927.60. Following the completion of the transaction, the executive vice president directly owned 27,335 shares of the company’s stock, valued at approximately $5,110,824.95. The trade was a 3.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Price Performance

PNC stock opened at $210.98 on Wednesday. The company has a market capitalization of $82.74 billion, a PE ratio of 13.63, a P/E/G ratio of 1.19 and a beta of 1.01. The stock’s 50 day moving average is $194.40 and its two-hundred day moving average is $194.31. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.99. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $214.59.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, beating analysts’ consensus estimates of $4.05 by $0.30. The firm had revenue of $5.92 billion for 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 firm’s revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.49 EPS. Analysts predict that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th were issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Tuesday, October 14th. The PNC Financial Services Group’s dividend payout ratio is 43.93%.

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.