First National Trust Co Sells 454 Shares of The PNC Financial Services Group, Inc $PNC

First National Trust Co lessened its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 2.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,734 shares of the financial services provider’s stock after selling 454 shares during the period. First National Trust Co’s holdings in The PNC Financial Services Group were worth $3,306,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of PNC. Saudi Central Bank bought a new stake in shares of The PNC Financial Services Group during the 1st quarter valued at $27,000. IMG Wealth Management Inc. bought a new stake in shares of The PNC Financial Services Group during the 2nd quarter valued at $27,000. Concord Wealth Partners boosted its holdings in shares of The PNC Financial Services Group by 144.9% during the 2nd quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock valued at $32,000 after buying an additional 100 shares in the last quarter. Cornerstone Planning Group LLC boosted its holdings in shares of The PNC Financial Services Group by 50.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after buying an additional 65 shares in the last quarter. Finally, WPG Advisers LLC bought a new stake in shares of The PNC Financial Services Group during the 1st quarter valued at $36,000. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

PNC opened at $183.09 on Wednesday. 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 stock has a market capitalization 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 company’s 50-day simple moving average is $196.84 and its two-hundred day simple moving average is $185.45. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $216.26.

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, beating the consensus estimate of $4.05 by $0.30. The business had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.82 billion. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.49 EPS. As a group, analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

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 paid a dividend of $1.70 per share. The ex-dividend date is Tuesday, October 14th. This represents a $6.80 annualized dividend and a yield of 3.7%. The PNC Financial Services Group’s dividend payout ratio is currently 43.93%.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Cfra Research upgraded shares of The PNC Financial Services Group to a “moderate buy” rating in a report on Thursday, October 16th. Stephens reiterated an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a research note on Wednesday, September 10th. Citigroup upped their price target 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. Truist Financial upped their price target on shares of The PNC Financial Services Group from $201.00 to $210.00 and gave the stock a “hold” rating in a research note on Wednesday, September 24th. Finally, The Goldman Sachs Group upped their price target on shares of The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $218.47.

Insider Transactions at The PNC Financial Services Group

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

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.