Forvis Mazars Wealth Advisors LLC boosted its holdings in The PNC Financial Services Group, Inc (NYSE:PNC – Free Report) by 8.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,026 shares of the financial services provider’s stock after buying an additional 401 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in The PNC Financial Services Group were worth $937,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of PNC. Saudi Central Bank purchased a new position in The PNC Financial Services Group in the first quarter valued at $27,000. Concord Wealth Partners boosted its stake in 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 acquiring an additional 100 shares in the last quarter. Cornerstone Planning Group LLC boosted its stake in The PNC Financial Services Group by 50.8% in the first quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 65 shares in the last quarter. WPG Advisers LLC acquired a new position in The PNC Financial Services Group in the first quarter valued at $36,000. Finally, Fourth Dimension Wealth LLC acquired a new position in The PNC Financial Services Group in the first quarter valued at $41,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.
The PNC Financial Services Group Price Performance
Shares of PNC opened at $179.30 on Monday. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The company has a market capitalization of $70.61 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 1.25 and a beta of 1.10. The firm has a 50-day simple moving average of $198.10 and a 200-day simple moving average of $184.01. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.81 and a current ratio of 0.81.
The PNC Financial Services Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th will be given a $1.70 dividend. The ex-dividend date is Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.8%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 43.93%.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on PNC shares. Wolfe Research restated a “peer perform” rating on shares of The PNC Financial Services Group in a research note on Thursday, July 3rd. Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $186.00 to $206.00 and gave the company an “underweight” rating in a research note on Monday, September 29th. The Goldman Sachs Group upped their price objective on shares of The PNC Financial Services Group from $178.00 to $196.00 and gave the company a “neutral” rating in a research note on Wednesday, July 2nd. Bank of America upped their price objective on shares of The PNC Financial Services Group from $223.00 to $226.00 and gave the company a “buy” rating in a research note on Thursday, July 17th. Finally, Raymond James Financial upped their price objective on shares of 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 research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $218.47.
View Our Latest Stock Analysis on PNC
About The PNC Financial Services Group
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.
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