The PNC Financial Services Group, Inc $PNC Stake Trimmed by Sterling Capital Management LLC

Sterling Capital Management LLC cut its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 10.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,497 shares of the financial services provider’s stock after selling 5,806 shares during the period. Sterling Capital Management LLC’s holdings in The PNC Financial Services Group were worth $11,446,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PNC. Highland Investment Advisors LLC bought a new stake in The PNC Financial Services Group in the second quarter worth $27,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in The PNC Financial Services Group during the second quarter worth $28,000. Archer Investment Corp bought a new position in The PNC Financial Services Group during the second quarter valued at $33,000. Financial Life Planners bought a new position in The PNC Financial Services Group during the first quarter valued at $31,000. Finally, Wilkerson Advisory Group LLC increased its position in The PNC Financial Services Group by 93.4% during the first quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 71 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Citigroup lowered their target price on shares of The PNC Financial Services Group from $290.00 to $270.00 and set a “buy” rating for the company in a report on Monday, October 19th. Stephens cut their price target on shares of The PNC Financial Services Group from $265.00 to $250.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. Keefe, Bruyette & Woods reduced their price objective on shares of The PNC Financial Services Group from $260.00 to $250.00 and set a “market perform” rating on the stock in a research report on Friday, October 16th. The Goldman Sachs Group decreased their price objective on shares of The PNC Financial Services Group from $281.00 to $250.00 and set a “neutral” rating for the company in a research note on Monday, October 5th. Finally, Truist Financial decreased their price target on The PNC Financial Services Group from $252.00 to $248.00 and set a “hold” rating for the company in a research note on Monday, October 19th. Seventeen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, The PNC Financial Services Group has an average rating of “Moderate Buy” and an average target price of $266.13.

The PNC Financial Services Group Trading Down 0.5%

PNC traded down $1.04 on Friday, reaching $224.49. 1,431,452 shares of the company traded hands, compared to its average volume of 2,170,116. The PNC Financial Services Group, Inc has a one year low of $177.08 and a one year high of $258.96. The firm has a fifty day simple moving average of $232.07 and a two-hundred day simple moving average of $233.54. The company has a market cap of $89.56 billion, a P/E ratio of 11.95, a price-to-earnings-growth ratio of 1.17 and a beta of 0.94. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.23.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Thursday, October 15th. The financial services provider reported $5.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.91 by $0.18. The company had revenue of $6.60 billion during the quarter, compared to analysts’ expectations of $6.61 billion. The PNC Financial Services Group had a net margin of 21.83% and a return on equity of 12.82%. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the company earned $4.35 EPS. As a group, equities research analysts expect that The PNC Financial Services Group, Inc will post 19.22 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 5th. Investors of record on Wednesday, October 14th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $8.00 annualized dividend and a yield of 3.6%. The PNC Financial Services Group’s dividend payout ratio is 42.58%.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Stacy Juchno sold 3,354 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $255.84, for a total transaction of $858,087.36. Following the transaction, the executive vice president directly owned 18,800 shares in the company, valued at $4,809,792. This trade represents a 15.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.38% of the stock is owned by insiders.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its principal banking subsidiary, PNC Bank, the company provides banking, lending, investment, and related financial services to individuals, small businesses, corporations, government entities, and institutional clients.

PNC’s consumer offerings include checking and savings accounts, credit cards, mortgages, home equity loans, personal lending, and online and mobile banking.