The PNC Financial Services Group, Inc $PNC Stock: Vestor Capital LLC Reduces Holdings

Vestor Capital LLC cut its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 96.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,594 shares of the financial services provider’s stock after selling 152,239 shares during the quarter. Vestor Capital LLC’s holdings in The PNC Financial Services Group were worth $1,243,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Highland Investment Advisors LLC bought a new position in shares of The PNC Financial Services Group during the 2nd quarter worth about $27,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group in the 2nd quarter valued at about $28,000. Archer Investment Corp bought a new stake in The PNC Financial Services Group in the 2nd quarter valued at about $33,000. Wilkerson Advisory Group LLC increased its position in The PNC Financial Services Group by 93.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock valued at $31,000 after buying an additional 71 shares in the last quarter. Finally, Dunhill Financial LLC acquired a new position in The PNC Financial Services Group during the 2nd quarter worth approximately $37,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Price Performance

PNC stock opened at $231.52 on Tuesday. The company has a market capitalization of $91.86 billion, a P/E ratio of 12.32, a price-to-earnings-growth ratio of 1.21 and a beta of 0.92. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.83 and a current ratio of 0.84. The PNC Financial Services Group, Inc has a 52-week low of $177.08 and a 52-week high of $258.96. The business has a 50-day simple moving average of $228.37 and a two-hundred day simple moving average of $229.23.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Thursday, October 15th. The financial services provider reported $5.09 EPS for the quarter, topping analysts’ consensus estimates of $4.91 by $0.18. The firm had revenue of $6.60 billion during the quarter, compared to analyst estimates of $6.61 billion. The PNC Financial Services Group had a return on equity of 12.82% and a net margin of 21.83%. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the previous year, the company posted $4.35 EPS. Research analysts expect that The PNC Financial Services Group, Inc will post 19.24 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 5th. Investors of record on Wednesday, October 14th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Wednesday, October 14th. This represents a $8.00 annualized dividend and a dividend yield of 3.5%. The PNC Financial Services Group’s payout ratio is presently 42.58%.

Analyst Ratings Changes

PNC has been the subject of a number of research reports. Evercore reduced their price objective on The PNC Financial Services Group from $265.00 to $260.00 and set an “outperform” rating for the company in a research note on Monday, October 19th. Truist Financial cut their target price on The PNC Financial Services Group from $252.00 to $248.00 and set a “hold” rating on the stock in a report on Monday, October 19th. Stephens reduced their price target on shares of The PNC Financial Services Group from $265.00 to $250.00 and set an “overweight” rating for the company in a research report on Monday, October 19th. DA Davidson lifted their price target on shares of The PNC Financial Services Group from $247.00 to $281.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Finally, Wolfe Research started coverage on shares of The PNC Financial Services Group in a research note on Tuesday, October 27th. They set a “peer perform” rating for the company. Seventeen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $266.04.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Stacy Juchno sold 3,354 shares of the company’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 completion of the sale, the executive vice president owned 18,800 shares in the company, valued at approximately $4,809,792. This represents a 15.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. It serves consumers, small businesses, corporations, government entities and institutional clients through a range of banking and financial services.

PNC’s businesses include retail banking, corporate and institutional banking, and asset management. Its offerings include deposit accounts, lending, cash management, treasury services, investment and wealth management, and other financial products and services.

The company traces its history to 1852 and took its current name following the 1983 merger of Pittsburgh National Corporation and Provident National Corporation.