FNY Investment Advisers LLC Buys New Shares in The PNC Financial Services Group, Inc $PNC

FNY Investment Advisers LLC bought a new stake in The PNC Financial Services Group, Inc (NYSE:PNC) in the 2nd quarter, Holdings Channel.com reports. The fund bought 200 shares of the financial services provider’s stock, valued at approximately $37,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Saudi Central Bank acquired a new position in The PNC Financial Services Group in the first quarter valued at $27,000. IMG Wealth Management Inc. acquired a new stake in The PNC Financial Services Group during the second quarter worth about $27,000. Concord Wealth Partners increased its stake in 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 acquiring an additional 100 shares during the last quarter. Cornerstone Planning Group LLC increased its stake in The PNC Financial Services Group by 50.8% during the first quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 65 shares during the last quarter. Finally, WPG Advisers LLC acquired a new stake in The PNC Financial Services Group during the first quarter worth about $36,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PNC has been the subject of several research analyst reports. The Goldman Sachs Group upped their price target on The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 2nd. Truist Financial upped their price target on The PNC Financial Services Group from $201.00 to $210.00 and gave the stock a “hold” rating in a research note on Wednesday, September 24th. Keefe, Bruyette & Woods upgraded The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and upped their price target for the stock from $185.00 to $212.00 in a research note on Wednesday, July 9th. Cfra Research upgraded The PNC Financial Services Group to a “moderate buy” rating in a research note on Thursday, October 16th. Finally, Piper Sandler upgraded The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $211.00 to $220.00 in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $218.47.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $186.38 on Friday. The PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-year high of $216.26. The business has a 50-day moving average of $197.18 and a 200-day moving average of $184.64. 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 company has a market capitalization of $73.40 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 1.27 and a beta of 1.10.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, topping the consensus estimate of $4.05 by $0.30. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The company had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.82 billion. During the same quarter in the prior year, the business earned $3.49 earnings per share. The company’s revenue was up 8.9% compared to the same quarter last year. On average, equities analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th will be issued a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.6%. The PNC Financial Services Group’s dividend payout ratio is currently 43.93%.

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.