Smithfield Trust Co Has $5.01 Million Stake in The PNC Financial Services Group, Inc $PNC

Smithfield Trust Co raised its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 20.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 24,097 shares of the financial services provider’s stock after purchasing an additional 4,123 shares during the period. Smithfield Trust Co’s holdings in The PNC Financial Services Group were worth $5,006,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of The PNC Financial Services Group by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider’s stock valued at $8,114,168,000 after acquiring an additional 408,464 shares in the last quarter. State Street Corp increased its stake in shares of The PNC Financial Services Group by 0.5% in the 3rd quarter. State Street Corp now owns 17,242,132 shares of the financial services provider’s stock valued at $3,464,462,000 after acquiring an additional 85,291 shares in the last quarter. Capital International Investors increased its stake in shares of The PNC Financial Services Group by 6.0% in the 3rd quarter. Capital International Investors now owns 10,835,687 shares of the financial services provider’s stock valued at $2,177,318,000 after acquiring an additional 609,755 shares in the last quarter. Viking Global Investors LP increased its stake in shares of The PNC Financial Services Group by 234.9% in the 3rd quarter. Viking Global Investors LP now owns 7,956,766 shares of the financial services provider’s stock valued at $1,598,753,000 after acquiring an additional 5,581,102 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of The PNC Financial Services Group by 32.6% in the 3rd quarter. AQR Capital Management LLC now owns 4,425,905 shares of the financial services provider’s stock valued at $889,297,000 after acquiring an additional 1,086,941 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

PNC has been the subject of several research analyst reports. Barclays lifted their price objective on shares of 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. Truist Financial boosted their price target on shares of The PNC Financial Services Group from $234.00 to $245.00 and gave the company a “hold” rating in a research note on Thursday, April 16th. Citigroup boosted their price target on shares of The PNC Financial Services Group from $245.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Oppenheimer boosted their price target on shares of The PNC Financial Services Group from $263.00 to $268.00 and gave the company an “outperform” rating in a research note on Thursday, April 16th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.11.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $219.50 on Tuesday. The PNC Financial Services Group, Inc has a 1 year low of $169.32 and a 1 year high of $243.94. 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 firm has a market cap of $88.14 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 0.91 and a beta of 0.94. The company has a fifty day moving average price of $214.73 and a 200-day moving average price of $212.21.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The firm had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.21 billion. During the same quarter in the prior year, the business posted $3.51 EPS. The business’s revenue was up 13.1% compared to the same quarter last year. As a group, equities research analysts predict that The PNC Financial Services Group, Inc will post 18.93 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were paid a $1.70 dividend. The ex-dividend date was Tuesday, April 14th. This represents a $6.80 annualized dividend and a dividend yield of 3.1%. The PNC Financial Services Group’s dividend payout ratio is presently 39.51%.

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.