The PNC Financial Services Group, Inc $PNC Shares Bought by JB Capital LLC

JB Capital LLC lifted its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 5.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 85,367 shares of the financial services provider’s stock after purchasing an additional 4,396 shares during the quarter. The PNC Financial Services Group makes up 0.7% of JB Capital LLC’s portfolio, making the stock its 26th largest holding. JB Capital LLC’s holdings in The PNC Financial Services Group were worth $17,153,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PNC. IMG Wealth Management Inc. acquired a new stake in The PNC Financial Services Group in the second quarter worth about $27,000. Concord Wealth Partners raised its position in shares of The PNC Financial Services Group by 144.9% during the 2nd quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock worth $32,000 after buying an additional 100 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of The PNC Financial Services Group in the 2nd quarter worth approximately $37,000. True Wealth Design LLC boosted its holdings in shares of The PNC Financial Services Group by 1,133.3% in the second quarter. True Wealth Design LLC now owns 222 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 204 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in shares of The PNC Financial Services Group during the second quarter valued at approximately $50,000. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Trading Down 0.5%

NYSE:PNC opened at $210.98 on Wednesday. The stock has a fifty day simple moving average of $194.40 and a 200 day simple moving average of $194.31. The firm has a market capitalization of $82.74 billion, a price-to-earnings ratio of 13.63, a price-to-earnings-growth ratio of 1.19 and a beta of 1.01. The PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-year high of $214.59. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.99.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $5.92 billion for the quarter, compared to the consensus estimate of $5.82 billion. During the same quarter in the previous year, the company earned $3.49 EPS. The business’s revenue for the quarter was up 8.9% 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th were paid a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.2%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 43.93%.

Analysts Set New Price Targets

A number of research firms have weighed in on PNC. Citigroup upped their target price on The PNC Financial Services Group from $217.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. Oppenheimer cut their price objective on The PNC Financial Services Group from $240.00 to $231.00 and set an “outperform” rating for the company in a report on Wednesday, November 19th. Evercore ISI lifted their target price on The PNC Financial Services Group from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Stephens reiterated an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, September 10th. Finally, Truist Financial raised their price objective on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a research report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $219.11.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,080 shares of the business’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $186.97, for a total transaction of $201,927.60. Following the sale, the executive vice president directly owned 27,335 shares of the company’s stock, valued at $5,110,824.95. The trade was a 3.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael Duane Thomas sold 1,000 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total value of $183,570.00. Following the completion of the sale, the executive vice president directly owned 5,802 shares of the company’s stock, valued at approximately $1,065,073.14. This trade represents a 14.70% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.41% of the stock is 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.