Pinnacle Financial Partners Inc Buys 363 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Pinnacle Financial Partners Inc boosted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 9.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,410 shares of the financial services provider’s stock after buying an additional 363 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in The PNC Financial Services Group were worth $833,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Winch Advisory Services LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter valued at $25,000. Richardson Financial Services Inc. raised its holdings in The PNC Financial Services Group by 2,333.3% during the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares during the last quarter. Albion Financial Group UT acquired a new position in The PNC Financial Services Group during the 4th quarter valued at about $30,000. Synergy Asset Management LLC bought a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $32,000. Finally, Valley Wealth Managers Inc. boosted its stake in shares of The PNC Financial Services Group by 20,000.0% in the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 200 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $187.90 on Monday. The company has a market capitalization of $74.55 billion, a P/E ratio of 13.67, a price-to-earnings-growth ratio of 1.55 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 52 week low of $143.52 and a 52 week high of $216.26. 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 company’s 50 day moving average price is $196.08 and its two-hundred day moving average price is $191.98.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The business had revenue of $5.57 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the business posted $3.16 earnings per share. On average, analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given 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 3.41%. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Analyst Ratings Changes

PNC has been the topic of several analyst reports. Piper Sandler increased their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Wells Fargo & Company increased their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Barclays raised their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Stephens reiterated an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday, January 17th. Finally, Morgan Stanley raised their target price on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $205.00.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $209.24, for a total transaction of $259,876.08. Following the completion of the transaction, the chief executive officer now owns 532,523 shares of the company’s stock, valued at $111,425,112.52. This represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders sold 12,420 shares of company stock worth $2,474,722. 0.42% of the stock is 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.