Smithfield Trust Co Has $5.01 Million Stake in The PNC Financial Services Group, Inc $PNC

Smithfield Trust Co boosted its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 20.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,097 shares of the financial services provider’s stock after buying an additional 4,123 shares during the period. Smithfield Trust Co’s holdings in The PNC Financial Services Group were worth $5,006,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PNC. Bleakley Financial Group LLC boosted its stake in shares of The PNC Financial Services Group by 8.2% in the 4th quarter. Bleakley Financial Group LLC now owns 15,819 shares of the financial services provider’s stock valued at $3,302,000 after purchasing an additional 1,201 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its stake in shares of The PNC Financial Services Group by 188.3% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 470 shares of the financial services provider’s stock valued at $98,000 after purchasing an additional 307 shares in the last quarter. Allstate Corp boosted its stake in shares of The PNC Financial Services Group by 112.1% in the 4th quarter. Allstate Corp now owns 31,744 shares of the financial services provider’s stock valued at $6,626,000 after purchasing an additional 16,774 shares in the last quarter. Summitry LLC acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $215,000. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its stake in shares of The PNC Financial Services Group by 187.3% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 4,117 shares of the financial services provider’s stock valued at $859,000 after purchasing an additional 2,684 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Morgan Stanley raised their price target on shares of The PNC Financial Services Group from $263.00 to $267.00 and gave the company an “equal weight” rating in a research note on Thursday, April 16th. Royal Bank Of Canada reiterated an “outperform” rating and set a $235.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday, April 15th. Truist Financial lifted 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 report on Thursday, April 16th. Finally, Barclays lifted their target price on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. One 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. According to MarketBeat, The PNC Financial Services Group currently has an average rating of “Moderate Buy” and a consensus price target of $243.11.

The PNC Financial Services Group Stock Up 0.1%

NYSE:PNC opened at $219.50 on Tuesday. The firm’s 50 day simple moving average is $214.73 and its 200 day simple moving average is $212.21. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82. The PNC Financial Services Group, Inc has a one year low of $169.32 and a one year high of $243.94. The company has a market cap of $88.14 billion, a PE ratio of 12.75, a P/E/G ratio of 0.91 and a beta of 0.94.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, topping the consensus estimate 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 business had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same period last year, the company earned $3.51 EPS. The firm’s revenue was up 13.1% compared to the same quarter last year. On average, research analysts anticipate that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

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

The PNC Financial Services Group Company 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.