Stratos Wealth Partners LTD. Increases Position in The PNC Financial Services Group, Inc $PNC

Stratos Wealth Partners LTD. lifted its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 14.4% during the third quarter, Holdings Channel reports. The institutional investor owned 36,216 shares of the financial services provider’s stock after purchasing an additional 4,558 shares during the period. Stratos Wealth Partners LTD.’s holdings in The PNC Financial Services Group were worth $7,277,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PNC. IMG Wealth Management Inc. bought a new stake in The PNC Financial Services Group during the second quarter valued at about $27,000. Concord Wealth Partners grew its position in shares of The PNC Financial Services Group by 144.9% during the second quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. Westfuller Advisors LLC purchased a new stake in shares of The PNC Financial Services Group during the third quarter worth about $34,000. FNY Investment Advisers LLC bought a new stake in The PNC Financial Services Group during the 2nd quarter valued at approximately $37,000. Finally, True Wealth Design LLC lifted its holdings in The PNC Financial Services Group by 1,133.3% in the 2nd quarter. True Wealth Design LLC now owns 222 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 204 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Oppenheimer increased their price objective on shares of The PNC Financial Services Group from $268.00 to $284.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. TD Cowen upped their target price on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of The PNC Financial Services Group in a report on Monday, December 22nd. Truist Financial boosted 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 note on Thursday, December 18th. Finally, Barclays raised their price objective 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 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $234.44.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $235.66 on Thursday. The firm has a market capitalization of $92.42 billion, a PE ratio of 14.21, a PEG ratio of 1.00 and a beta of 0.99. The stock’s fifty day moving average is $217.58 and its 200 day moving average is $201.42. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $243.94. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, beating analysts’ consensus estimates of $4.23 by $0.65. The business had revenue of $6.07 billion for 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 business’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.77 earnings per share. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio is 40.99%.

About The PNC Financial Services Group

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.