Mendel Money Management Buys 75 Shares of The PNC Financial Services Group, Inc $PNC

Mendel Money Management grew its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 1.5% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 5,173 shares of the financial services provider’s stock after purchasing an additional 75 shares during the period. Mendel Money Management’s holdings in The PNC Financial Services Group were worth $964,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of The PNC Financial Services Group by 0.7% in the first quarter. Vanguard Group Inc. now owns 37,965,619 shares of the financial services provider’s stock valued at $6,673,217,000 after acquiring an additional 248,252 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of The PNC Financial Services Group by 26.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,502,467 shares of the financial services provider’s stock valued at $1,670,249,000 after acquiring an additional 1,964,157 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of The PNC Financial Services Group by 0.5% in the first quarter. Ameriprise Financial Inc. now owns 4,807,684 shares of the financial services provider’s stock valued at $844,967,000 after acquiring an additional 24,588 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of The PNC Financial Services Group by 4.8% in the first quarter. Bank of New York Mellon Corp now owns 4,056,797 shares of the financial services provider’s stock valued at $713,063,000 after acquiring an additional 186,249 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of The PNC Financial Services Group by 41.8% in the first quarter. Goldman Sachs Group Inc. now owns 2,818,090 shares of the financial services provider’s stock valued at $495,336,000 after acquiring an additional 830,440 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PNC has been the subject of several recent analyst reports. Cfra Research raised The PNC Financial Services Group to a “moderate buy” rating in a report on Thursday, October 16th. Keefe, Bruyette & Woods raised The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and upped their target price for the company from $185.00 to $212.00 in a report on Wednesday, July 9th. Truist Financial upped their target price on The PNC Financial Services Group from $201.00 to $210.00 and gave the company a “hold” rating in a report on Wednesday, September 24th. Wolfe Research reaffirmed a “peer perform” rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. Finally, Wall Street Zen raised The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $218.47.

Insider Activity

In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,080 shares of the stock in a transaction on Friday, October 24th. The stock was sold at an average price of $186.97, for a total transaction of $201,927.60. Following the sale, the executive vice president owned 27,335 shares in the company, valued at $5,110,824.95. This represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.41% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Trading Down 1.0%

NYSE:PNC opened at $183.09 on Wednesday. The company has a market cap of $72.10 billion, a P/E ratio of 11.83, a P/E/G ratio of 1.29 and a beta of 1.10. The stock’s fifty day moving average price is $196.84 and its two-hundred day moving average price is $185.45. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $216.26. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results 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 firm had revenue of $5.92 billion for the quarter, compared to the consensus estimate of $5.82 billion. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.49 earnings per share. As a group, analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th will be given a dividend of $1.70 per share. The ex-dividend date is Tuesday, October 14th. This represents a $6.80 annualized dividend and a dividend yield of 3.7%. The PNC Financial Services Group’s dividend payout ratio is currently 43.93%.

The PNC Financial Services Group Company 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.