Bank of Jackson Hole Trust Acquires 576 Shares of The PNC Financial Services Group, Inc $PNC

Bank of Jackson Hole Trust grew its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 25.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,801 shares of the financial services provider’s stock after buying an additional 576 shares during the period. Bank of Jackson Hole Trust’s holdings in The PNC Financial Services Group were worth $522,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,080 shares of the business’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $186.97, for a total value of $201,927.60. Following the completion of the transaction, the executive vice president owned 27,335 shares of the company’s stock, valued at approximately $5,110,824.95. The trade was a 3.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $183.09 on Wednesday. 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 business has a 50-day simple moving average of $196.84 and a two-hundred day simple moving average of $185.45. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $72.10 billion, a price-to-earnings ratio of 11.83, a price-to-earnings-growth ratio of 1.29 and a beta of 1.10.

The PNC Financial Services Group (NYSE:PNC) last issued its 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 business had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.82 billion. During the same quarter in the previous year, the firm earned $3.49 EPS. The PNC Financial Services Group’s revenue was up 8.9% on a year-over-year basis. On average, analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm 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 $1.70 dividend. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.7%. The PNC Financial Services Group’s payout ratio is 43.93%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Cfra Research raised The PNC Financial Services Group to a “moderate buy” rating in a research report on Thursday, October 16th. Evercore ISI lifted their price target on The PNC Financial Services Group from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Bank of America lifted their price target 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. Wall Street Zen raised The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Finally, Citigroup lifted their price target 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 investment analyst has rated the stock with a Strong Buy rating, fifteen have issued 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 stock currently has an average rating of “Moderate Buy” and a consensus price target of $218.47.

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.