Orrstown Financial Services Inc. Sells 137 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Orrstown Financial Services Inc. trimmed its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 9,484 shares of the financial services provider’s stock after selling 137 shares during the quarter. Orrstown Financial Services Inc.’s holdings in The PNC Financial Services Group were worth $1,829,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Winch Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter worth approximately $25,000. Albion Financial Group UT bought a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at $30,000. Valley Wealth Managers Inc. lifted its position in shares of The PNC Financial Services Group by 20,000.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after buying an additional 200 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in The PNC Financial Services Group in the 3rd quarter valued at about $51,000. Finally, Quarry LP increased its stake in shares of The PNC Financial Services Group by 141.7% in the second quarter. Quarry LP now owns 290 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 170 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PNC has been the subject of several analyst reports. Piper Sandler raised their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Truist Financial boosted their price objective on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Compass Point boosted their price target on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group increased their price objective on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Citigroup boosted their target price on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $205.00.

The PNC Financial Services Group Stock Up 1.4 %

The PNC Financial Services Group stock traded up $2.76 on Wednesday, hitting $204.48. 81,626 shares of the stock traded hands, compared to its average volume of 2,419,216. The business’s fifty day simple moving average is $200.14 and its 200 day simple moving average is $189.26. The firm has a market cap of $81.13 billion, a P/E ratio of 14.94, a price-to-earnings-growth ratio of 1.59 and a beta of 1.16. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a 1 year low of $139.69 and a 1 year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same period last year, the business earned $3.16 earnings per share. The business’s revenue was up 3.8% on a year-over-year basis. As a group, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 15.26 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.13%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, November 1st. The stock was sold at an average price of $189.50, for a total value of $235,359.00. Following the completion of the sale, the chief executive officer now owns 543,523 shares of the company’s stock, valued at approximately $102,997,608.50. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the sale, the director now directly owns 38,649 shares in the company, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,413 shares of company stock worth $6,021,569 in the last quarter. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group 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.