Keudell Morrison Wealth Management Invests $566,000 in The PNC Financial Services Group, Inc $PNC

Keudell Morrison Wealth Management purchased a new position in The PNC Financial Services Group, Inc (NYSE:PNC) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 2,710 shares of the financial services provider’s stock, valued at approximately $566,000.

Other large investors also recently bought and sold shares of the company. Quarry LP purchased a new stake in The PNC Financial Services Group in the third quarter worth about $25,000. Westfuller Advisors LLC bought a new stake in shares of The PNC Financial Services Group in the 3rd quarter worth approximately $34,000. Beacon Financial Strategies CORP purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter worth approximately $35,000. JPL Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group in the 3rd quarter worth approximately $37,000. Finally, Financial Life Planners bought a new position in The PNC Financial Services Group during the 3rd quarter valued at approximately $39,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Price Performance

NYSE PNC opened at $219.50 on Friday. The PNC Financial Services Group, Inc has a one year low of $169.32 and a one year high of $243.94. The stock has a 50-day moving average of $214.39 and a 200 day moving average of $211.74. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83. The company has a market capitalization of $88.14 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 0.91 and a beta of 0.94.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The firm had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter last year, the firm posted $3.51 EPS. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. On average, sell-side analysts forecast that The PNC Financial Services Group, Inc will post 18.93 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were paid a dividend of $1.70 per share. The ex-dividend date was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.1%. The PNC Financial Services Group’s payout ratio is currently 39.51%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PNC shares. Keefe, Bruyette & Woods boosted their target price on The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a “market perform” rating in a report on Thursday, April 16th. Truist Financial lifted their price target on The PNC Financial Services Group from $234.00 to $245.00 and gave the stock a “hold” rating in a research report on Thursday, April 16th. Barclays upped their price target on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. Morgan Stanley raised their price objective on shares of The PNC Financial Services Group from $263.00 to $267.00 and gave the company an “equal weight” rating in a research note on Thursday, April 16th. Finally, Bank of America lifted their target price on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.11.

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.