Dynamic Technology Lab Private Ltd Has $2.06 Million Stake in The PNC Financial Services Group, Inc $PNC

Dynamic Technology Lab Private Ltd grew its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 124.3% in the 3rd quarter, Holdings Channel reports. The fund owned 10,271 shares of the financial services provider’s stock after purchasing an additional 5,691 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in The PNC Financial Services Group were worth $2,064,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of PNC. Kennebec Savings Bank grew its position in shares of The PNC Financial Services Group by 1.6% in the third quarter. Kennebec Savings Bank now owns 3,424 shares of the financial services provider’s stock valued at $688,000 after purchasing an additional 54 shares in the last quarter. Winthrop Capital Management LLC lifted its holdings in The PNC Financial Services Group by 2.1% during the 2nd quarter. Winthrop Capital Management LLC now owns 2,619 shares of the financial services provider’s stock worth $488,000 after purchasing an additional 55 shares in the last quarter. SCS Capital Management LLC lifted its holdings in The PNC Financial Services Group by 0.6% during the 2nd quarter. SCS Capital Management LLC now owns 8,527 shares of the financial services provider’s stock worth $1,590,000 after purchasing an additional 55 shares in the last quarter. Webster Bank N. A. boosted its stake in The PNC Financial Services Group by 0.5% in the 3rd quarter. Webster Bank N. A. now owns 10,975 shares of the financial services provider’s stock worth $2,205,000 after purchasing an additional 55 shares during the period. Finally, YANKCOM Partnership grew its holdings in The PNC Financial Services Group by 2.3% during the 3rd quarter. YANKCOM Partnership now owns 2,537 shares of the financial services provider’s stock valued at $510,000 after buying an additional 57 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Morgan Stanley increased their price target on shares of The PNC Financial Services Group from $211.00 to $221.00 and gave the stock an “underweight” rating in a report on Tuesday, January 20th. Royal Bank Of Canada boosted their price objective on shares of The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Wells Fargo & Company upped their target price on shares of The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. JPMorgan Chase & Co. increased their target price on shares of The PNC Financial Services Group from $228.50 to $251.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. Finally, Truist Financial raised their price target on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a report on Thursday, December 18th. Fifteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $234.44.

The PNC Financial Services Group Stock Down 2.9%

Shares of NYSE PNC opened at $206.26 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.90. The business has a 50-day moving average of $222.17 and a 200-day moving average of $205.11. The firm has a market capitalization of $83.20 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 0.86 and a beta of 0.98. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, beating analysts’ consensus estimates of $4.23 by $0.65. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The business had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $5.90 billion. During the same period last year, the firm posted $3.77 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 9.1% on a year-over-year basis. Sell-side analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th were issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, January 20th. The PNC Financial Services Group’s payout ratio is currently 40.99%.

Insider Activity at The PNC Financial Services Group

In related news, EVP Alexander E. C. Overstrom sold 2,500 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $233.91, for a total value of $584,775.00. Following the completion of the transaction, the executive vice president directly owned 21,120 shares in the company, valued at approximately $4,940,179.20. The trade was a 10.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William S. Demchak sold 50,000 shares of the stock in a transaction on Friday, February 20th. The shares were sold at an average price of $230.88, for a total value of $11,544,000.00. Following the completion of the transaction, the chief executive officer directly owned 554,274 shares in the company, valued at approximately $127,970,781.12. This represents a 8.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 64,186 shares of company stock valued at $14,840,973 over the last ninety days. 0.41% of the stock is currently owned by insiders.

The PNC Financial Services Group Company Profile

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.