Banque Cantonale Vaudoise Takes $2.84 Million Position in The PNC Financial Services Group, Inc (NYSE:PNC)

Banque Cantonale Vaudoise bought a new stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 16,182 shares of the financial services provider's stock, valued at approximately $2,844,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Quadrant Capital Group LLC lifted its position in shares of The PNC Financial Services Group by 0.9% in the 4th quarter. Quadrant Capital Group LLC now owns 6,679 shares of the financial services provider's stock worth $1,288,000 after acquiring an additional 59 shares during the period. True Wealth Design LLC lifted its position in shares of The PNC Financial Services Group by 41.5% in the 4th quarter. True Wealth Design LLC now owns 201 shares of the financial services provider's stock worth $39,000 after acquiring an additional 59 shares during the period. Cornerstone Planning Group LLC lifted its position in shares of The PNC Financial Services Group by 50.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock worth $34,000 after acquiring an additional 65 shares during the period. KCM Investment Advisors LLC lifted its position in shares of The PNC Financial Services Group by 3.9% in the 4th quarter. KCM Investment Advisors LLC now owns 1,828 shares of the financial services provider's stock worth $353,000 after acquiring an additional 68 shares during the period. Finally, Spire Wealth Management lifted its position in shares of The PNC Financial Services Group by 2.2% in the 1st quarter. Spire Wealth Management now owns 3,257 shares of the financial services provider's stock worth $573,000 after acquiring an additional 69 shares during the period. Institutional investors and hedge funds own 83.53% of the company's stock.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $169.75, for a total transaction of $210,829.50. Following the sale, the chief executive officer owned 554,879 shares in the company, valued at approximately $94,190,710.25. This represents a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kieran John Fallon sold 1,492 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $174.56, for a total value of $260,443.52. Following the sale, the executive vice president owned 20,490 shares in the company, valued at $3,576,734.40. The trade was a 6.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,460 shares of company stock worth $1,103,563 in the last quarter. 0.41% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Stock Down 1.3%

Shares of The PNC Financial Services Group stock traded down $2.42 during trading on Thursday, reaching $190.13. The stock had a trading volume of 1,669,288 shares, compared to its average volume of 2,475,639. The company has a market capitalization of $75.21 billion, a price-to-earnings ratio of 13.00, a P/E/G ratio of 1.43 and a beta of 1.07. The stock has a fifty day moving average price of $185.29 and a two-hundred day moving average price of $180.39. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $216.26. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, beating analysts' consensus estimates of $3.56 by $0.29. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $5.61 billion. The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%. The company's quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.39 earnings per share. Sell-side analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th will be issued a dividend of $1.70 per share. The ex-dividend date is Tuesday, July 15th. This is a boost from The PNC Financial Services Group's previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a yield of 3.6%. The PNC Financial Services Group's dividend payout ratio is currently 46.51%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Truist Financial raised their price objective on The PNC Financial Services Group from $189.00 to $198.00 and gave the stock a "hold" rating in a research report on Wednesday, July 9th. Raymond James Financial upgraded The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 target price for the company in a research report on Tuesday, July 8th. The Goldman Sachs Group raised their target price on The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. cut their target price on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating for the company in a research report on Thursday, April 3rd. Finally, Bank of America raised their target price on The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $214.17.

About The PNC Financial Services Group

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 segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.