Denali Advisors LLC Sells 600 Shares of The PNC Financial Services Group, Inc $PNC

Denali Advisors LLC reduced its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 12.2% during the second quarter, Holdings Channel reports. The firm owned 4,300 shares of the financial services provider’s stock after selling 600 shares during the period. Denali Advisors LLC’s holdings in The PNC Financial Services Group were worth $802,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. IMG Wealth Management Inc. bought a new position in shares of The PNC Financial Services Group during the second quarter valued at about $27,000. Saudi Central Bank bought a new position in shares of The PNC Financial Services Group during the first quarter valued at about $27,000. Concord Wealth Partners increased its holdings 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 buying an additional 100 shares during the last quarter. Cornerstone Planning Group LLC increased its holdings 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 buying an additional 65 shares during the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in The PNC Financial Services Group during the second quarter worth about $37,000. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Price Performance

PNC opened at $181.05 on Thursday. The company has a market capitalization of $71.30 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.27 and a beta of 1.10. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.06. The firm has a 50-day moving average price of $197.54 and a 200-day moving average price of $184.18. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last posted 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 firm had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.82 billion. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The company’s revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the company earned $3.49 earnings per share. Equities analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th will be paid a $1.70 dividend. The ex-dividend date is Tuesday, October 14th. This represents a $6.80 annualized dividend and a dividend yield of 3.8%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 43.93%.

Analysts Set New Price Targets

A number of analysts recently issued reports on PNC shares. Piper Sandler upgraded shares of The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $211.00 to $220.00 in a report on Thursday, October 9th. The Goldman Sachs Group raised their price objective on shares of The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a “neutral” rating in a report on Wednesday, July 2nd. Weiss Ratings restated a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Wednesday, October 8th. Oppenheimer restated an “outperform” rating and set a $240.00 price objective (up previously from $235.00) on shares of The PNC Financial Services Group in a report on Thursday, October 16th. Finally, Wolfe Research restated a “peer perform” rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.