FNY Investment Advisers LLC Purchases New Stake in The PNC Financial Services Group, Inc $PNC

FNY Investment Advisers LLC purchased a new stake in The PNC Financial Services Group, Inc (NYSE:PNC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 200 shares of the financial services provider’s stock, valued at approximately $37,000.

A number of other institutional investors have also recently modified their holdings of the business. IMG Wealth Management Inc. purchased a new stake in shares of The PNC Financial Services Group in the second quarter valued at approximately $27,000. Jackson Thornton Wealth Management LLC purchased a new stake in The PNC Financial Services Group during the second quarter worth $449,000. Whittier Trust Co. of Nevada Inc. boosted its position in The PNC Financial Services Group by 3.3% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 100,372 shares of the financial services provider’s stock worth $18,711,000 after purchasing an additional 3,215 shares in the last quarter. Whittier Trust Co. boosted its position in The PNC Financial Services Group by 8.0% during the second quarter. Whittier Trust Co. now owns 220,683 shares of the financial services provider’s stock worth $41,139,000 after purchasing an additional 16,365 shares in the last quarter. Finally, apricus wealth LLC boosted its position in The PNC Financial Services Group by 1.3% during the second quarter. apricus wealth LLC now owns 13,370 shares of the financial services provider’s stock worth $2,492,000 after purchasing an additional 173 shares in the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on PNC. Bank of America boosted their target price on The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. Cfra Research upgraded The PNC Financial Services Group to a “moderate buy” rating in a research report on Thursday, October 16th. Truist Financial boosted their target price on The PNC Financial Services Group from $201.00 to $210.00 and gave the stock a “hold” rating in a research report on Wednesday, September 24th. Stephens reiterated an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday, September 10th. Finally, Citigroup boosted their target price on The PNC Financial Services Group from $217.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $218.47.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $186.38 on Friday. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The stock has a market cap of $73.40 billion, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 1.27 and a beta of 1.10. The business has a fifty day moving average of $197.18 and a 200-day moving average of $184.64. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.06.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, topping analysts’ consensus estimates of $4.05 by $0.30. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The company had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.82 billion. During the same period in the previous year, the firm posted $3.49 earnings per share. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, analysts predict that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.6%. The ex-dividend date is Tuesday, October 14th. The PNC Financial Services Group’s dividend payout ratio is presently 43.93%.

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.