The PNC Financial Services Group, Inc $PNC Stock Holdings Decreased by Sterling Capital Management LLC

Sterling Capital Management LLC lowered its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 10.1% during the third quarter, Holdings Channel.com reports. The firm owned 51,497 shares of the financial services provider’s stock after selling 5,806 shares during the quarter. Sterling Capital Management LLC’s holdings in The PNC Financial Services Group were worth $11,446,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PNC. Highland Investment Advisors LLC bought a new position in The PNC Financial Services Group in the second quarter worth about $27,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group during the second quarter valued at about $28,000. Financial Life Planners purchased a new stake in shares of The PNC Financial Services Group during the first quarter valued at about $31,000. Wilkerson Advisory Group LLC boosted its holdings in shares of The PNC Financial Services Group by 93.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock valued at $31,000 after buying an additional 71 shares in the last quarter. Finally, NBT Bank N A NY grew its position in shares of The PNC Financial Services Group by 96.3% in the 1st quarter. NBT Bank N A NY now owns 157 shares of the financial services provider’s stock worth $33,000 after buying an additional 77 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In related news, EVP Stacy Juchno sold 3,354 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $255.84, for a total value of $858,087.36. Following the transaction, the executive vice president directly owned 18,800 shares of the company’s stock, valued at $4,809,792. This represents a 15.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.38% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PNC has been the subject of several recent analyst reports. Morgan Stanley reduced their price objective on shares of The PNC Financial Services Group from $278.00 to $273.00 and set an “equal weight” rating for the company in a research note on Friday, October 16th. Citigroup lowered their target price on shares of The PNC Financial Services Group from $290.00 to $270.00 and set a “buy” rating for the company in a research note on Monday, October 19th. Truist Financial cut their price target on shares of The PNC Financial Services Group from $252.00 to $248.00 and set a “hold” rating on the stock in a report on Monday, October 19th. TD Cowen reduced their price target on The PNC Financial Services Group from $245.00 to $240.00 and set a “hold” rating on the stock in a research report on Friday, October 16th. Finally, Jefferies Financial Group decreased their price objective on The PNC Financial Services Group from $305.00 to $280.00 and set a “buy” rating for the company in a report on Thursday, September 24th. Seventeen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $266.13.

The PNC Financial Services Group Stock Down 0.5%

Shares of PNC stock traded down $1.04 during trading hours on Friday, reaching $224.49. 1,431,452 shares of the company’s stock were exchanged, compared to its average volume of 2,170,116. The PNC Financial Services Group, Inc has a 1 year low of $177.08 and a 1 year high of $258.96. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.23. The stock has a market cap of $89.56 billion, a PE ratio of 11.95, a PEG ratio of 1.17 and a beta of 0.94. The stock’s fifty day moving average price is $232.07 and its two-hundred day moving average price is $233.54.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Thursday, October 15th. The financial services provider reported $5.09 EPS for the quarter, beating the consensus estimate of $4.91 by $0.18. The firm had revenue of $6.60 billion during the quarter, compared to analyst estimates of $6.61 billion. The PNC Financial Services Group had a net margin of 21.83% and a return on equity of 12.82%. The PNC Financial Services Group’s revenue was up 10.9% on a year-over-year basis. During the same period last year, the firm posted $4.35 EPS. Research analysts predict that The PNC Financial Services Group, Inc will post 19.22 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 5th. Stockholders of record on Wednesday, October 14th will be issued a dividend of $2.00 per share. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.6%. The PNC Financial Services Group’s payout ratio is 42.58%.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its principal banking subsidiary, PNC Bank, the company provides banking, lending, investment, and related financial services to individuals, small businesses, corporations, government entities, and institutional clients.

PNC’s consumer offerings include checking and savings accounts, credit cards, mortgages, home equity loans, personal lending, and online and mobile banking.