Texas Capital Bank Wealth Management Services Inc Acquires 3,244 Shares of The PNC Financial Services Group, Inc $PNC

Texas Capital Bank Wealth Management Services Inc boosted its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 102.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,416 shares of the financial services provider’s stock after purchasing an additional 3,244 shares during the period. Texas Capital Bank Wealth Management Services Inc’s holdings in The PNC Financial Services Group were worth $1,339,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PNC. Mirae Asset Global Investments Co. Ltd. lifted its holdings in The PNC Financial Services Group by 12.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,835 shares of the financial services provider’s stock valued at $11,621,000 after purchasing an additional 6,572 shares during the last quarter. US Bancorp DE lifted its holdings in The PNC Financial Services Group by 13.4% during the 3rd quarter. US Bancorp DE now owns 287,236 shares of the financial services provider’s stock valued at $57,714,000 after purchasing an additional 34,009 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in The PNC Financial Services Group by 1.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,837,301 shares of the financial services provider’s stock valued at $369,169,000 after purchasing an additional 22,325 shares during the last quarter. Savant Capital LLC lifted its holdings in The PNC Financial Services Group by 8.7% during the 3rd quarter. Savant Capital LLC now owns 87,952 shares of the financial services provider’s stock valued at $17,672,000 after purchasing an additional 7,064 shares during the last quarter. Finally, National Pension Service lifted its holdings in The PNC Financial Services Group by 2.5% during the 3rd quarter. National Pension Service now owns 1,070,589 shares of the financial services provider’s stock valued at $215,113,000 after purchasing an additional 26,305 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 0.0%

Shares of NYSE PNC opened at $220.86 on Thursday. The PNC Financial Services Group, Inc has a 1-year low of $170.49 and a 1-year high of $243.94. The company has a market cap of $88.69 billion, a PE ratio of 12.83, a P/E/G ratio of 0.92 and a beta of 0.94. 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 company has a 50-day moving average of $215.54 and a two-hundred day moving average of $212.73.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The company had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.21 billion. During the same period in the previous year, the firm posted $3.51 earnings per share. The company’s revenue was up 13.1% on a year-over-year basis. As a group, equities 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 Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts recently issued reports on PNC shares. Royal Bank Of Canada reissued an “outperform” rating and set a $235.00 price target on shares of The PNC Financial Services Group in a report on Wednesday, April 15th. Keefe, Bruyette & Woods lifted their price target on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the company a “market perform” rating in a report on Thursday, April 16th. Oppenheimer boosted their target price on shares of The PNC Financial Services Group from $263.00 to $268.00 and gave the stock an “outperform” rating in a research note on Thursday, April 16th. Truist Financial boosted their target price on shares of 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. Finally, Citigroup boosted their target price on shares of The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $243.11.

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.