Canal Capital Management LLC Buys 66 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)


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Canal Capital Management LLC grew its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,754 shares of the financial services provider’s stock after buying an additional 66 shares during the period. Canal Capital Management LLC’s holdings in The PNC Financial Services Group were worth $1,711,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Sugarloaf Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth approximately $26,000. Vantage Consulting Group Inc purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $27,000. Clark Financial Advisors purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $29,000. Accel Wealth Management purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $29,000. Finally, MPS Loria Financial Planners LLC purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Several research firms have recently weighed in on PNC. Piper Sandler downgraded The PNC Financial Services Group from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $162.00 to $167.00 in a research note on Wednesday, January 13th. Keefe, Bruyette & Woods lifted their price target on The PNC Financial Services Group from $150.00 to $167.00 and gave the company a “market perform” rating in a research report on Monday, January 18th. TheStreet upgraded The PNC Financial Services Group from a “c+” rating to a “b” rating in a research report on Friday, April 16th. Barclays raised their price objective on The PNC Financial Services Group from $171.00 to $182.00 and gave the company an “equal weight” rating in a report on Wednesday, April 7th. Finally, Robert W. Baird reissued a “buy” rating on shares of The PNC Financial Services Group in a report on Tuesday. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company’s stock. The PNC Financial Services Group has an average rating of “Hold” and a consensus target price of $171.05.

Shares of NYSE PNC traded down $0.83 during mid-day trading on Thursday, hitting $174.30. 29,484 shares of the stock traded hands, compared to its average volume of 1,992,943. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.88 and a current ratio of 0.88. The PNC Financial Services Group, Inc. has a 52 week low of $93.27 and a 52 week high of $184.33. The company has a market cap of $73.91 billion, a price-to-earnings ratio of 10.48, a PEG ratio of 3.33 and a beta of 1.38. The stock has a fifty day moving average price of $177.13 and a 200-day moving average price of $149.67.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, April 15th. The financial services provider reported $4.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.75 by $1.35. The PNC Financial Services Group had a return on equity of 5.97% and a net margin of 38.16%. The company had revenue of $4.22 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same period in the previous year, the company posted $1.95 earnings per share. The firm’s revenue was down 6.6% on a year-over-year basis. As a group, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 6.09 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 5th. Shareholders of record on Friday, April 16th will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 2.64%. The ex-dividend date is Thursday, April 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 40.39%.

In other news, EVP Guild Deborah sold 3,840 shares of the business’s stock in a transaction on Tuesday, January 26th. The stock was sold at an average price of $151.37, for a total value of $581,260.80. Following the completion of the transaction, the executive vice president now owns 18,804 shares in the company, valued at $2,846,361.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Karen L. Larrimer sold 3,205 shares of the business’s stock in a transaction on Friday, February 5th. The stock was sold at an average price of $156.92, for a total value of $502,928.60. Following the completion of the transaction, the executive vice president now owns 24,580 shares of the company’s stock, valued at approximately $3,857,093.60. The disclosure for this sale can be found here. Insiders sold 7,295 shares of company stock worth $1,128,071 over the last three months. Corporate insiders own 0.30% of the company’s stock.

The PNC Financial Services Group 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. The Retail Banking segment offers brokerage, insurance, and investment and cash management services; checking, savings, and money market accounts; certificates of deposits; and lending products, which includes residential mortgages, home equity loans and lines of credit, auto loans, education loans, and personal and small business loans, and credit cards to consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels.

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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