The PNC Financial Services Group, Inc $PNC Shares Bought by JB Capital LLC

JB Capital LLC grew its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 5.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,367 shares of the financial services provider’s stock after purchasing an additional 4,396 shares during the period. The PNC Financial Services Group makes up about 0.7% of JB Capital LLC’s investment portfolio, making the stock its 26th largest position. JB Capital LLC’s holdings in The PNC Financial Services Group were worth $17,153,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. IMG Wealth Management Inc. acquired a new position in The PNC Financial Services Group in the 2nd quarter worth $27,000. Concord Wealth Partners lifted its stake in shares of The PNC Financial Services Group by 144.9% in 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 in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of The PNC Financial Services Group in the second quarter worth about $37,000. True Wealth Design LLC boosted its holdings in The PNC Financial Services Group by 1,133.3% in the second quarter. True Wealth Design LLC now owns 222 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 204 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in The PNC Financial Services Group during the 2nd quarter valued at approximately $50,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Trading Down 0.5%

The PNC Financial Services Group stock opened at $210.98 on Wednesday. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $214.59. The firm’s 50-day moving average is $194.40 and its 200-day moving average is $194.31. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $82.74 billion, a P/E ratio of 13.63, a PEG ratio of 1.19 and a beta of 1.01.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data 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 net margin of 19.30% and a return on equity of 11.47%. The firm had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.82 billion. During the same quarter in the prior year, the business earned $3.49 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 8.9% on a year-over-year basis. On average, equities analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th were issued a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, October 14th. This represents a $6.80 annualized dividend and a dividend yield of 3.2%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 43.93%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PNC. Citigroup upped their target price on The PNC Financial Services Group from $217.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Stephens restated an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a research note on Wednesday, September 10th. Truist Financial upped their price target on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a report on Thursday, December 18th. Oppenheimer reduced their price objective on shares of The PNC Financial Services Group from $240.00 to $231.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 19th. Finally, Wells Fargo & Company boosted their target price on shares of The PNC Financial Services Group from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $219.11.

Insider Buying and Selling

In related news, EVP Guild Deborah sold 1,080 shares of the company’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $186.97, for a total transaction of $201,927.60. Following the completion of the transaction, the executive vice president directly owned 27,335 shares in the company, valued at $5,110,824.95. This represents a 3.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael Duane Thomas sold 1,000 shares of the stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total value of $183,570.00. Following the completion of the sale, the executive vice president directly owned 5,802 shares in the company, valued at $1,065,073.14. This represents a 14.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.41% 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, 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.