Stephens Inc. AR Trims Holdings in The PNC Financial Services Group, Inc $PNC

Stephens Inc. AR decreased its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 0.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 66,662 shares of the financial services provider’s stock after selling 178 shares during the quarter. Stephens Inc. AR’s holdings in The PNC Financial Services Group were worth $13,015,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Ignite Planners LLC lifted its position in The PNC Financial Services Group by 8.4% during the first quarter. Ignite Planners LLC now owns 1,628 shares of the financial services provider’s stock worth $262,000 after buying an additional 126 shares in the last quarter. Exane Asset Management grew its position in The PNC Financial Services Group by 32.9% in the first quarter. Exane Asset Management now owns 149,783 shares of the financial services provider’s stock worth $28,434,000 after acquiring an additional 37,110 shares during the period. Smith Salley Wealth Management grew its position in The PNC Financial Services Group by 15.6% in the first quarter. Smith Salley Wealth Management now owns 72,844 shares of the financial services provider’s stock worth $12,804,000 after acquiring an additional 9,836 shares during the period. United Community Bank grew its position in The PNC Financial Services Group by 687.0% in the first quarter. United Community Bank now owns 12,325 shares of the financial services provider’s stock worth $2,166,000 after acquiring an additional 10,759 shares during the period. Finally, Truist Financial Corp grew its position in The PNC Financial Services Group by 2.1% in the first quarter. Truist Financial Corp now owns 1,156,136 shares of the financial services provider’s stock worth $203,214,000 after acquiring an additional 23,502 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

PNC has been the subject of several analyst reports. UBS Group increased their price objective on The PNC Financial Services Group from $224.00 to $229.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Morgan Stanley increased their price objective on The PNC Financial Services Group from $186.00 to $206.00 and gave the stock an “underweight” rating in a research report on Monday, September 29th. Truist Financial increased their price objective on The PNC Financial Services Group from $201.00 to $210.00 and gave the stock a “hold” rating in a research report on Wednesday, September 24th. Citigroup increased their price objective 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. Finally, Wells Fargo & Company raised their price target on The PNC Financial Services Group from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Moderate Buy” and an average target price of $218.47.

The PNC Financial Services Group Trading Up 1.6%

PNC opened at $182.26 on Tuesday. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $216.26. The business has a fifty day simple moving average of $197.97 and a 200-day simple moving average of $184.22. The firm has a market cap of $71.78 billion, a P/E ratio of 11.77, a P/E/G ratio of 1.25 and a beta of 1.10. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.06.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, topping the consensus estimate of $4.05 by $0.30. The business had revenue of $5.92 billion during the quarter, compared to analyst estimates 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 company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period last year, the business posted $3.49 earnings per share. On average, equities analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Tuesday, October 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) 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.