4,935 Shares in The PNC Financial Services Group, Inc $PNC Bought by Orleans Capital Management Corp LA

Orleans Capital Management Corp LA purchased a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 4,935 shares of the financial services provider’s stock, valued at approximately $992,000.

Other institutional investors have also recently bought and sold shares of the company. Westfuller Advisors LLC acquired a new position in shares of The PNC Financial Services Group in the 3rd quarter valued at $34,000. True Wealth Design LLC lifted its holdings in shares of The PNC Financial Services Group by 1,133.3% during the 2nd quarter. True Wealth Design LLC now owns 222 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 204 shares during the period. Bayforest Capital Ltd boosted its position in shares of The PNC Financial Services Group by 237.1% during the 3rd quarter. Bayforest Capital Ltd now owns 209 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 147 shares in the last quarter. Corundum Trust Company INC acquired a new stake in shares of The PNC Financial Services Group during the 3rd quarter valued at about $49,000. Finally, Country Trust Bank increased its stake in The PNC Financial Services Group by 38.9% in the third quarter. Country Trust Bank now owns 243 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 68 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock opened at $206.26 on Friday. The stock has a market capitalization of $83.20 billion, a price-to-earnings ratio of 12.43, a P/E/G ratio of 0.89 and a beta of 0.98. The firm’s 50-day moving average price is $222.17 and its two-hundred day moving average price is $205.02. 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 PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-year high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.23 by $0.65. The company had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $5.90 billion. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The PNC Financial Services Group’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.77 earnings per share. On average, equities 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th were given a $1.70 dividend. The ex-dividend date was Tuesday, January 20th. This represents a $6.80 annualized dividend and a yield of 3.3%. The PNC Financial Services Group’s payout ratio is presently 40.99%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PNC shares. Truist Financial increased their price target on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the stock a “hold” rating in a research report on Thursday, December 18th. Wells Fargo & Company upped their price objective on The PNC Financial Services Group from $252.00 to $264.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Royal Bank Of Canada increased their target price on The PNC Financial Services Group from $222.00 to $235.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. JPMorgan Chase & Co. raised their target price on The PNC Financial Services Group from $228.50 to $251.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. Finally, Barclays upped their price target on The PNC Financial Services Group from $235.00 to $271.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Fifteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $234.44.

Insiders Place Their Bets

In other news, EVP Richard Kevin Bynum sold 7,407 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $230.98, for a total transaction of $1,710,868.86. Following the sale, the executive vice president owned 1,942 shares in the company, valued at approximately $448,563.16. This represents a 79.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Louis Robert Cestello sold 4,279 shares of the firm’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $234.01, for a total value of $1,001,328.79. Following the completion of the sale, the executive vice president owned 18,867 shares of the company’s stock, valued at approximately $4,415,066.67. This trade represents a 18.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 64,186 shares of company stock worth $14,840,973 in the last three months. Company insiders own 0.41% of the company’s stock.

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.