TFB Advisors LLC Acquires 58 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

TFB Advisors LLC raised its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.3% during the fourth quarter, HoldingsChannel reports. The fund owned 1,799 shares of the financial services provider’s stock after purchasing an additional 58 shares during the quarter. TFB Advisors LLC’s holdings in The PNC Financial Services Group were worth $347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Loomis Sayles & Co. L P grew its position in shares of The PNC Financial Services Group by 8.7% in the third quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 50 shares in the last quarter. Baltimore Washington Financial Advisors Inc. grew its holdings in The PNC Financial Services Group by 3.1% during the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider’s stock valued at $324,000 after buying an additional 51 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in The PNC Financial Services Group by 2.4% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider’s stock valued at $434,000 after buying an additional 53 shares in the last quarter. MFA Wealth Advisors LLC increased its position in shares of The PNC Financial Services Group by 5.4% during the third quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider’s stock valued at $200,000 after buying an additional 55 shares during the period. Finally, Resonant Capital Advisors LLC lifted its holdings in shares of The PNC Financial Services Group by 0.3% in the third quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider’s stock worth $3,148,000 after buying an additional 56 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Down 1.8 %

Shares of PNC opened at $195.54 on Thursday. The PNC Financial Services Group, Inc. has a 1 year low of $139.69 and a 1 year high of $216.26. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a 50 day simple moving average of $197.92 and a two-hundred day simple moving average of $190.87. The firm has a market cap of $77.59 billion, a P/E ratio of 14.22, a P/E/G ratio of 1.64 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The company had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.16 EPS. On average, analysts forecast that The PNC Financial Services Group, Inc. will post 15.3 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were paid a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.27%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 46.55%.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $205.98, for a total transaction of $255,827.16. Following the transaction, the chief executive officer now directly owns 535,007 shares in the company, valued at $110,200,741.86. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 14,904 shares of company stock worth $2,989,034. Company insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PNC. Barclays boosted their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Citigroup boosted their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Piper Sandler upped their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Morgan Stanley lifted their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Finally, Truist Financial upped their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and a consensus price target of $205.00.

The PNC Financial Services Group Profile

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 time 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.