Umpqua Bank Buys 657 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Umpqua Bank increased its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,768 shares of the financial services provider’s stock after purchasing an additional 657 shares during the period. Umpqua Bank’s holdings in The PNC Financial Services Group were worth $2,303,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Loomis Sayles & Co. L P increased 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 worth $115,000 after purchasing an additional 50 shares during the period. Baltimore Washington Financial Advisors Inc. increased its position in shares of The PNC Financial Services Group by 3.1% in the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider’s stock worth $324,000 after purchasing an additional 51 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in The PNC Financial Services Group by 2.4% in the fourth 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 acquiring an additional 53 shares during the last quarter. Transcend Capital Advisors LLC grew its position in The PNC Financial Services Group by 1.8% in the fourth quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider’s stock valued at $616,000 after acquiring an additional 55 shares during the last quarter. Finally, Valmark Advisers Inc. grew its position in The PNC Financial Services Group by 1.4% in the fourth quarter. Valmark Advisers Inc. now owns 4,010 shares of the financial services provider’s stock valued at $773,000 after acquiring an additional 56 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PNC shares. Morgan Stanley lifted their target price on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. The Goldman Sachs Group decreased their target price on The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a research report on Wednesday. Stephens reissued an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Truist Financial lifted their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Finally, Compass Point lifted their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and an average target price of $203.71.

The PNC Financial Services Group Trading Down 0.0 %

Shares of PNC stock opened at $173.35 on Friday. The company has a market cap of $68.60 billion, a P/E ratio of 12.61, a PEG ratio of 1.55 and a beta of 1.13. The stock has a 50 day simple moving average of $190.03 and a two-hundred day simple moving average of $192.22. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc. has a fifty-two week low of $143.52 and a fifty-two week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.16 earnings per share. Research 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.69%. The PNC Financial Services Group’s dividend payout ratio is 46.55%.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $192.15, for a total value of $238,650.30. Following the completion of the sale, the chief executive officer now directly owns 527,555 shares of the company’s stock, valued at approximately $101,369,693.25. This represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 12,420 shares of company stock worth $2,369,165 over the last quarter. 0.42% of the stock is currently owned by corporate insiders.

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 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.