The PNC Financial Services Group, Inc $PNC Shares Sold by Twin Lakes Capital Management LLC

Twin Lakes Capital Management LLC lessened its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 26.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 1,817 shares of the financial services provider’s stock after selling 652 shares during the quarter. Twin Lakes Capital Management LLC’s holdings in The PNC Financial Services Group were worth $339,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Avior Wealth Management LLC grew its stake in shares of The PNC Financial Services Group by 4.5% in the second quarter. Avior Wealth Management LLC now owns 1,213 shares of the financial services provider’s stock worth $226,000 after purchasing an additional 52 shares in the last quarter. Rockland Trust Co. grew its stake in shares of The PNC Financial Services Group by 0.5% in the second quarter. Rockland Trust Co. now owns 10,499 shares of the financial services provider’s stock worth $1,957,000 after purchasing an additional 53 shares in the last quarter. Almanack Investment Partners LLC. grew its stake in shares of The PNC Financial Services Group by 2.3% in the second quarter. Almanack Investment Partners LLC. now owns 2,433 shares of the financial services provider’s stock worth $454,000 after purchasing an additional 55 shares in the last quarter. Rosenberg Matthew Hamilton grew its stake in shares of The PNC Financial Services Group by 15.0% in the second quarter. Rosenberg Matthew Hamilton now owns 429 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 56 shares in the last quarter. Finally, Kestra Investment Management LLC grew its stake in shares of The PNC Financial Services Group by 11.4% in the first quarter. Kestra Investment Management LLC now owns 566 shares of the financial services provider’s stock worth $99,000 after purchasing an additional 58 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

PNC has been the subject of several recent analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Saturday. Oppenheimer reaffirmed an “outperform” rating and set a $240.00 target price (up previously from $235.00) on shares of The PNC Financial Services Group in a research note on Thursday, October 16th. Evercore ISI raised their target price on The PNC Financial Services Group from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. The Goldman Sachs Group raised their target price on The PNC Financial Services Group from $178.00 to $196.00 and gave the company a “neutral” rating in a research note on Wednesday, July 2nd. Finally, Wells Fargo & Company raised their target price on The PNC Financial Services Group from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $218.47.

The PNC Financial Services Group Stock Up 2.4%

Shares of The PNC Financial Services Group stock opened at $186.38 on Monday. The stock has a 50-day moving average price of $197.18 and a 200 day moving average price of $185.06. The company has a market cap of $73.40 billion, a P/E ratio of 12.04, a P/E/G ratio of 1.30 and a beta of 1.10. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.06. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.82 billion. During the same period in the prior year, the business earned $3.49 EPS. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.6%. The PNC Financial Services Group’s dividend payout ratio is currently 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.