The PNC Financial Services Group, Inc $PNC Shares Bought by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC raised its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 63.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,257 shares of the financial services provider’s stock after acquiring an additional 36,061 shares during the quarter. Daymark Wealth Partners LLC’s holdings in The PNC Financial Services Group were worth $17,385,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bank of Jackson Hole Trust grew its position in shares of The PNC Financial Services Group by 25.9% during the second quarter. Bank of Jackson Hole Trust now owns 2,801 shares of the financial services provider’s stock worth $522,000 after buying an additional 576 shares in the last quarter. Mendel Money Management grew its position in shares of The PNC Financial Services Group by 1.5% during the second quarter. Mendel Money Management now owns 5,173 shares of the financial services provider’s stock worth $964,000 after buying an additional 75 shares in the last quarter. New York Life Investment Management LLC grew its position in shares of The PNC Financial Services Group by 1.1% during the second quarter. New York Life Investment Management LLC now owns 59,249 shares of the financial services provider’s stock worth $11,045,000 after buying an additional 671 shares in the last quarter. Howard Capital Management Inc. grew its position in shares of The PNC Financial Services Group by 11.7% during the second quarter. Howard Capital Management Inc. now owns 2,582 shares of the financial services provider’s stock worth $481,000 after buying an additional 270 shares in the last quarter. Finally, Purkiss Capital Advisors LLC grew its position in shares of The PNC Financial Services Group by 54.8% during the second quarter. Purkiss Capital Advisors LLC now owns 3,902 shares of the financial services provider’s stock worth $728,000 after buying an additional 1,381 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,080 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president owned 27,335 shares in the company, valued at approximately $5,110,824.95. The trade was a 3.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $183.09 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.06. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $216.26. The stock has a 50 day moving average of $196.84 and a two-hundred day moving average of $185.45. The stock has a market cap of $72.10 billion, a P/E ratio of 11.83, a P/E/G ratio of 1.29 and a beta of 1.10.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, beating analysts’ consensus estimates of $4.05 by $0.30. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The company had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.82 billion. During the same quarter in the previous year, the business earned $3.49 earnings per share. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th will be paid 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 3.7%. The PNC Financial Services Group’s payout ratio is currently 43.93%.

Analysts Set New Price Targets

PNC has been the subject of a number of analyst reports. UBS Group boosted 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. Citigroup upped their price target on The PNC Financial Services Group from $217.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Keefe, Bruyette & Woods raised The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and upped their price target for the company from $185.00 to $212.00 in a report on Wednesday, July 9th. Evercore ISI upped their price target on The PNC Financial Services Group from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Finally, Piper Sandler raised The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and upped their price target for the company from $211.00 to $220.00 in a report on Thursday, October 9th. One equities 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.47.

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.