Denali Advisors LLC Has $802,000 Holdings in The PNC Financial Services Group, Inc $PNC

Denali Advisors LLC cut its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 12.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,300 shares of the financial services provider’s stock after selling 600 shares during the quarter. Denali Advisors LLC’s holdings in The PNC Financial Services Group were worth $802,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Ignite Planners LLC increased its position in shares of The PNC Financial Services Group by 8.4% during the first quarter. Ignite Planners LLC now owns 1,628 shares of the financial services provider’s stock worth $262,000 after buying an additional 126 shares during the period. Exane Asset Management increased its position in shares of The PNC Financial Services Group by 32.9% during the first quarter. Exane Asset Management now owns 149,783 shares of the financial services provider’s stock worth $28,434,000 after buying an additional 37,110 shares during the period. Smith Salley Wealth Management boosted its stake in The PNC Financial Services Group by 15.6% during the first quarter. Smith Salley Wealth Management now owns 72,844 shares of the financial services provider’s stock worth $12,804,000 after acquiring an additional 9,836 shares in the last quarter. United Community Bank boosted its stake in The PNC Financial Services Group by 687.0% during the first quarter. United Community Bank now owns 12,325 shares of the financial services provider’s stock worth $2,166,000 after acquiring an additional 10,759 shares in the last quarter. Finally, Truist Financial Corp boosted its stake in The PNC Financial Services Group by 2.1% during the first quarter. Truist Financial Corp now owns 1,156,136 shares of the financial services provider’s stock worth $203,214,000 after acquiring an additional 23,502 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Down 0.5%

The PNC Financial Services Group stock opened at $181.05 on Thursday. The PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-year high of $216.26. The firm has a market capitalization of $71.30 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 1.27 and a beta of 1.10. The firm’s fifty day moving average price is $197.54 and its two-hundred day moving average price is $184.18. 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 (NYSE:PNC) last released its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, beating analysts’ consensus estimates of $4.05 by $0.30. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The firm had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.82 billion. During the same period last year, the firm earned $3.49 earnings per share. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, equities research 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Tuesday, October 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 43.93%.

Wall Street Analyst Weigh In

PNC has been the topic of several research analyst reports. Wells Fargo & Company increased their target price on shares of The PNC Financial Services Group from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, October 3rd. Evercore ISI increased their target price on shares of The PNC Financial Services Group from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Stephens reissued an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research note on Wednesday, September 10th. Citigroup increased their target price on shares of The PNC Financial Services Group from $217.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Finally, Oppenheimer reissued an “outperform” rating and set a $240.00 target price (up from $235.00) on shares of The PNC Financial Services Group in a research note on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.47.

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.