Concord Wealth Partners Has $588,000 Stock Position in The PNC Financial Services Group, Inc $PNC

Concord Wealth Partners raised its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 1,630.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,924 shares of the financial services provider’s stock after buying an additional 2,755 shares during the quarter. Concord Wealth Partners’ holdings in The PNC Financial Services Group were worth $588,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. IMG Wealth Management Inc. bought a new position in The PNC Financial Services Group during the 2nd quarter worth about $27,000. Westfuller Advisors LLC acquired a new position in shares of The PNC Financial Services Group during the third quarter worth about $34,000. FNY Investment Advisers LLC bought a new position in shares of The PNC Financial Services Group during the second quarter worth about $37,000. True Wealth Design LLC raised its position in The PNC Financial Services Group by 1,133.3% in the 2nd quarter. True Wealth Design LLC now owns 222 shares of the financial services provider’s stock valued at $41,000 after buying an additional 204 shares during the last quarter. Finally, Bayforest Capital Ltd lifted its stake in The PNC Financial Services Group by 237.1% in the 3rd quarter. Bayforest Capital Ltd now owns 209 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 147 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on PNC. Royal Bank Of Canada raised their price target on shares of The PNC Financial Services Group from $222.00 to $235.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. Wells Fargo & Company raised their target price on shares of The PNC Financial Services Group from $252.00 to $264.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. Barclays boosted their price target on shares of The PNC Financial Services Group from $235.00 to $271.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Cfra Research upgraded The PNC Financial Services Group to a “moderate buy” rating in a report on Thursday, October 16th. Finally, Morgan Stanley upped their target price on 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. Fifteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.00.

The PNC Financial Services Group Trading Up 1.7%

Shares of NYSE:PNC opened at $242.53 on Friday. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $243.94. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $95.11 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 1.01 and a beta of 0.99. The company has a 50-day simple moving average of $214.89 and a 200 day simple moving average of $200.54.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, topping analysts’ consensus estimates of $4.23 by $0.65. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The firm had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $5.90 billion. During the same quarter in the previous year, the business earned $3.77 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year. Sell-side 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio is 40.99%.

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.