Keudell Morrison Wealth Management Purchases Shares of 2,710 The PNC Financial Services Group, Inc $PNC

Keudell Morrison Wealth Management acquired a new position in The PNC Financial Services Group, Inc (NYSE:PNC) during the 4th quarter, Holdings Channel reports. The firm acquired 2,710 shares of the financial services provider’s stock, valued at approximately $566,000.

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

The PNC Financial Services Group Stock Up 0.5%

Shares of PNC opened at $219.50 on Friday. The business’s 50 day moving average is $214.39 and its 200 day moving average is $211.74. The company has a market capitalization of $88.14 billion, a PE ratio of 12.75, a price-to-earnings-growth ratio of 0.91 and a beta of 0.94. The PNC Financial Services Group, Inc has a 12-month low of $169.32 and a 12-month high of $243.94. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, topping the consensus estimate of $3.92 by $0.40. The business had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.51 EPS. Research analysts expect that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Tuesday, April 14th. The PNC Financial Services Group’s payout ratio is currently 39.51%.

Analyst Ratings Changes

PNC has been the topic of several recent research reports. Truist Financial raised their price objective on The PNC Financial Services Group from $234.00 to $245.00 and gave the stock a “hold” rating in a research note on Thursday, April 16th. Citigroup boosted their price objective on The PNC Financial Services Group from $245.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Friday, March 27th. Royal Bank Of Canada restated an “outperform” rating and set a $235.00 target price on shares of The PNC Financial Services Group in a research note on Wednesday, April 15th. Finally, JPMorgan Chase & Co. lifted their price target on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $243.11.

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.