The PNC Financial Services Group, Inc $PNC Shares Sold by Maple Capital Management Inc.

Maple Capital Management Inc. trimmed its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 10.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,249 shares of the financial services provider’s stock after selling 613 shares during the period. Maple Capital Management Inc.’s holdings in The PNC Financial Services Group were worth $979,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Saudi Central Bank purchased a new position in The PNC Financial Services Group during the 1st quarter worth $27,000. IMG Wealth Management Inc. acquired a new stake in shares of The PNC Financial Services Group during the second quarter worth about $27,000. Concord Wealth Partners grew its holdings in shares of The PNC Financial Services Group by 144.9% during the second quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock worth $32,000 after buying an additional 100 shares during the last quarter. WPG Advisers LLC acquired a new position in The PNC Financial Services Group in the 1st quarter valued at about $36,000. Finally, FNY Investment Advisers LLC acquired a new position in The PNC Financial Services Group in the 2nd quarter valued at about $37,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PNC shares. Piper Sandler upgraded The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $211.00 to $220.00 in a research note on Thursday, October 9th. Bank of America upped their price target on The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Wells Fargo & Company lifted their price objective on The PNC Financial Services Group from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, October 3rd. Morgan Stanley boosted their target price 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. Finally, Wall Street Zen upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. 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 assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $218.47.

Insider Buying and Selling

In related news, EVP Michael Duane Thomas sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total transaction of $183,570.00. Following the transaction, the executive vice president owned 5,802 shares of the company’s stock, valued at approximately $1,065,073.14. This represents a 14.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Guild Deborah sold 1,080 shares of the firm’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 transaction of $201,927.60. Following the sale, the executive vice president owned 27,335 shares in the company, valued at approximately $5,110,824.95. This trade represents a 3.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 2,151 shares of company stock valued at $400,092. Company insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $184.76 on Wednesday. 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 $72.46 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 1.26 and a beta of 1.12. The stock has a fifty day moving average of $192.93 and a two-hundred day moving average of $187.71. 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 (NYSE:PNC) last posted its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, beating analysts’ consensus estimates of $4.05 by $0.30. The business had revenue of $5.92 billion for 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 business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the company earned $3.49 earnings per share. On average, analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th were issued a dividend of $1.70 per share. The ex-dividend date was Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.7%. The PNC Financial Services Group’s payout ratio is 43.93%.

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.