Infrastructure Capital Advisors LLC acquired a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,024 shares of the financial services provider’s stock, valued at approximately $639,000.
Other institutional investors have also recently modified their holdings of the company. Centerpoint Advisors LLC acquired a new stake in shares of The PNC Financial Services Group in the 1st quarter worth approximately $26,000. Elequin Securities LLC purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at about $28,000. AXS Investments LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth $36,000. Ruedi Wealth Management Inc. acquired a new position in The PNC Financial Services Group in the 4th quarter worth $37,000. Finally, Venturi Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group in the first quarter worth about $38,000. 80.14% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms have commented on PNC. Odeon Capital Group downgraded shares of The PNC Financial Services Group from a “buy” rating to a “hold” rating in a research note on Friday, July 21st. StockNews.com began coverage on shares of The PNC Financial Services Group in a research report on Thursday, August 17th. They set a “sell” rating on the stock. Morgan Stanley boosted their price target on shares of The PNC Financial Services Group from $137.00 to $144.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 19th. 888 reaffirmed a “reiterates” rating on shares of The PNC Financial Services Group in a report on Monday, June 26th. Finally, Wells Fargo & Company lowered their price target on The PNC Financial Services Group from $186.00 to $176.00 in a report on Wednesday, July 19th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus target price of $158.94.
The PNC Financial Services Group Price Performance
Shares of NYSE:PNC opened at $116.93 on Friday. The business has a 50 day moving average price of $126.59 and a 200 day moving average price of $127.09. The company has a market cap of $46.57 billion, a price-to-earnings ratio of 8.01, a PEG ratio of 1.08 and a beta of 1.15. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.33. The PNC Financial Services Group, Inc. has a twelve month low of $110.31 and a twelve month high of $170.27.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last released its earnings results on Tuesday, July 18th. The financial services provider reported $3.36 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $0.05. The business had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.45 billion. The PNC Financial Services Group had a return on equity of 13.27% and a net margin of 21.97%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the business earned $3.42 earnings per share. Research analysts predict that The PNC Financial Services Group, Inc. will post 13.5 earnings per share for the current year.
The PNC Financial Services Group Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Saturday, August 5th. Investors of record on Monday, July 17th were issued a dividend of $1.55 per share. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.50. This represents a $6.20 annualized dividend and a yield of 5.30%. The ex-dividend date was Friday, July 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 42.49%.
About The PNC Financial Services Group
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as certificates of deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.
Read More
- Five stocks we like better than The PNC Financial Services Group
- How to Invest in Semiconductors
- The Best 5 Small Cap AI Companies to Buy Now
- What is a Low P/E Ratio and What Does it Tell Investors?
- Miso Robotics Stock: Is an IPO Coming Soon?
- What Are Trending Stocks? Trending Stocks Explained
- 3 Stocks to Play the Easing Food Supply Chain
Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report).
Receive News & Ratings for The PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The PNC Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.
