FSM Wealth Advisors LLC Invests $587,000 in The PNC Financial Services Group, Inc $PNC

FSM Wealth Advisors LLC purchased a new stake in The PNC Financial Services Group, Inc (NYSE:PNC) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,990 shares of the financial services provider’s stock, valued at approximately $587,000.

Several other large investors have also added to or reduced their stakes in PNC. Brighton Jones LLC boosted its holdings in The PNC Financial Services Group by 32.2% in the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock valued at $779,000 after acquiring an additional 984 shares in the last quarter. GAMMA Investing LLC boosted its holdings in The PNC Financial Services Group by 10.3% in the first quarter. GAMMA Investing LLC now owns 6,537 shares of the financial services provider’s stock valued at $1,149,000 after acquiring an additional 608 shares in the last quarter. Spire Wealth Management boosted its holdings in The PNC Financial Services Group by 2.2% in the first quarter. Spire Wealth Management now owns 3,257 shares of the financial services provider’s stock valued at $573,000 after acquiring an additional 69 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings in The PNC Financial Services Group by 414.7% in the first quarter. Golden State Wealth Management LLC now owns 1,920 shares of the financial services provider’s stock valued at $337,000 after acquiring an additional 1,547 shares in the last quarter. Finally, Pinnacle Bancorp Inc. boosted its holdings in The PNC Financial Services Group by 29.9% in the first quarter. Pinnacle Bancorp Inc. now owns 648 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 149 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

PNC opened at $181.91 on Friday. The stock has a 50-day moving average price of $197.28 and a 200-day moving average price of $184.38. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $71.64 billion, a PE ratio of 11.75, a P/E/G ratio of 1.26 and a beta of 1.10. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.05 by $0.30. The firm had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.82 billion. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The PNC Financial Services Group’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.49 EPS. Sell-side 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th will be given a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, October 14th. The PNC Financial Services Group’s payout ratio is currently 43.93%.

Analyst Ratings Changes

Several research firms recently weighed in on PNC. Citigroup lifted their price target on shares of The PNC Financial Services Group from $217.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Keefe, Bruyette & Woods raised The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $185.00 to $212.00 in a research report on Wednesday, July 9th. Piper Sandler raised The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $211.00 to $220.00 in a research report on Thursday, October 9th. Morgan Stanley raised their price objective on The PNC Financial Services Group from $186.00 to $206.00 and gave the company an “underweight” rating in a research report on Monday, September 29th. Finally, Raymond James Financial raised their price objective on The PNC Financial Services Group from $220.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.47.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.