The PNC Financial Services Group, Inc $PNC Stock Holdings Lessened by Zions Bancorporation National Association UT

Zions Bancorporation National Association UT cut its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 14.3% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 48,886 shares of the financial services provider’s stock after selling 8,168 shares during the period. The PNC Financial Services Group comprises approximately 0.5% of Zions Bancorporation National Association UT’s holdings, making the stock its 29th largest position. Zions Bancorporation National Association UT’s holdings in The PNC Financial Services Group were worth $9,823,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PNC. IMG Wealth Management Inc. acquired a new stake in shares of The PNC Financial Services Group during the 2nd quarter valued at $27,000. Westfuller Advisors LLC purchased a new stake in shares of The PNC Financial Services Group during the third quarter worth $34,000. FNY Investment Advisers LLC purchased a new stake in shares of The PNC Financial Services Group during the second quarter worth $37,000. Bayforest Capital Ltd boosted its position in The PNC Financial Services Group by 237.1% during the third quarter. Bayforest Capital Ltd now owns 209 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 147 shares during the last quarter. Finally, True Wealth Design LLC grew its stake in The PNC Financial Services Group by 1,133.3% in the second quarter. True Wealth Design LLC now owns 222 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 204 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PNC shares. Barclays raised their price target on The PNC Financial Services Group from $235.00 to $271.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Royal Bank Of Canada lifted their target price on shares of The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Morgan Stanley increased their price target on shares of The PNC Financial Services Group from $211.00 to $221.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 20th. Wells Fargo & Company raised their price target on shares of The PNC Financial Services Group from $252.00 to $264.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Finally, Truist Financial upped their price objective on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the stock a “hold” rating in a report on Thursday, December 18th. Fifteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $234.44.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock opened at $229.54 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.94. The firm has a fifty day simple moving average of $218.84 and a 200-day simple moving average of $201.99. The stock has a market capitalization of $90.02 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 0.96 and a beta of 0.99. 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 announced its earnings results on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, topping the consensus estimate of $4.23 by $0.65. The firm had revenue of $6.07 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.77 EPS. On average, sell-side 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 disclosed a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, January 20th. The PNC Financial Services Group’s payout ratio is currently 40.99%.

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.