JB Capital LLC Has $18.63 Million Position in The PNC Financial Services Group, Inc $PNC

JB Capital LLC lifted its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 4.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 89,263 shares of the financial services provider’s stock after buying an additional 3,896 shares during the period. The PNC Financial Services Group comprises approximately 0.8% of JB Capital LLC’s portfolio, making the stock its 25th biggest holding. JB Capital LLC’s holdings in The PNC Financial Services Group were worth $18,632,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Quarry LP acquired a new position in The PNC Financial Services Group during the third quarter valued at approximately $25,000. Westfuller Advisors LLC acquired a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at $34,000. Beacon Financial Strategies CORP acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at $35,000. JPL Wealth Management LLC bought a new position in shares of The PNC Financial Services Group in the 3rd quarter valued at $37,000. Finally, Financial Life Planners bought a new position in The PNC Financial Services Group in the third quarter valued at about $39,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Ratings Changes

PNC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on shares of The PNC Financial Services Group from $228.50 to $251.00 and gave the company an “overweight” rating in a research note on Monday, February 9th. Weiss Ratings reiterated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research report on Friday, March 27th. Oppenheimer dropped their price objective on shares of The PNC Financial Services Group from $284.00 to $263.00 and set an “outperform” rating for the company in a research note on Friday, March 27th. Royal Bank Of Canada raised their target price on shares of The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. Finally, Truist Financial boosted their target price on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the stock a “hold” rating in a research note on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $238.28.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 50,000 shares of the business’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $230.88, for a total value of $11,544,000.00. Following the sale, the chief executive officer owned 554,274 shares of the company’s stock, valued at $127,970,781.12. The trade was a 8.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Richard Kevin Bynum sold 7,407 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $230.98, for a total value of $1,710,868.86. Following the completion of the sale, the executive vice president owned 1,942 shares of the company’s stock, valued at $448,563.16. The trade was a 79.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 64,186 shares of company stock valued at $14,840,973. Insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $211.76 on Friday. The firm has a market capitalization of $85.42 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 0.95 and a beta of 0.96. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.90. The business’s 50-day moving average price is $217.53 and its 200-day moving average price is $205.36. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.23 by $0.65. The company had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $5.90 billion. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The firm’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.77 earnings per share. Equities research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.2%. The ex-dividend date was Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio is 40.99%.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.