Bogart Wealth LLC Boosts Stake in The PNC Financial Services Group, Inc $PNC

Key Points

• Bogart Wealth LLC increased its stake in The PNC Financial Services Group by 2.5% in the second quarter, holding 65,501 shares valued at approximately $12.21 million.
• Several institutional investors, including Avior Wealth Management and Rosenberg Matthew Hamilton, also boosted their stakes in PNC, indicating a strong institutional interest with 83.53% of the company's stock owned by these investors.
• The PNC Financial Services Group announced a quarterly dividend of $1.70 per share, which will be paid on November 5th, reflecting a 3.8% yield and a payout ratio of 43.93%.

Bogart Wealth LLC lifted its holdings in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 2.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 65,501 shares of the financial services provider's stock after buying an additional 1,601 shares during the quarter. Bogart Wealth LLC's holdings in The PNC Financial Services Group were worth $12,211,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PNC. Avior Wealth Management LLC raised its position in The PNC Financial Services Group by 4.5% during the 2nd quarter. Avior Wealth Management LLC now owns 1,213 shares of the financial services provider's stock valued at $226,000 after purchasing an additional 52 shares in the last quarter. Rockland Trust Co. grew its holdings in The PNC Financial Services Group by 0.5% in the second quarter. Rockland Trust Co. now owns 10,499 shares of the financial services provider's stock worth $1,957,000 after purchasing an additional 53 shares during the last quarter. Almanack Investment Partners LLC. grew its stake in The PNC Financial Services Group by 2.3% during the 2nd quarter. Almanack Investment Partners LLC. now owns 2,433 shares of the financial services provider's stock worth $454,000 after buying an additional 55 shares during the last quarter. Rosenberg Matthew Hamilton grew its stake in shares of The PNC Financial Services Group by 15.0% during the second quarter. Rosenberg Matthew Hamilton now owns 429 shares of the financial services provider's stock worth $80,000 after acquiring an additional 56 shares during the last quarter. Finally, Kestra Investment Management LLC grew its position in The PNC Financial Services Group by 11.4% during the 1st quarter. Kestra Investment Management LLC now owns 566 shares of the financial services provider's stock worth $99,000 after purchasing an additional 58 shares during the last quarter. Institutional investors own 83.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PNC. Stephens reissued an "equal weight" rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday, September 10th. Wall Street Zen upgraded shares of The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. UBS Group boosted their price objective on The PNC Financial Services Group from $224.00 to $229.00 and gave the company a "buy" rating in a research report on Tuesday, October 7th. Cfra Research raised shares of The PNC Financial Services Group to a "moderate buy" rating in a report on Thursday. Finally, Evercore ISI lifted their target price on shares of The PNC Financial Services Group from $220.00 to $230.00 and gave the company an "outperform" rating in a research report on Tuesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $218.47.

The PNC Financial Services Group Stock Up 0.5%

NYSE PNC opened at $179.30 on Monday. The business has a fifty day moving average price of $198.10 and a 200 day moving average price of $184.01. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $70.61 billion, a P/E ratio of 11.58, a P/E/G ratio of 1.25 and a beta of 1.10. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.05 by $0.30. The business had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.82 billion. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The company's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.49 earnings per share. Research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Tuesday, October 14th. The PNC Financial Services Group's dividend payout ratio (DPR) is 43.93%.

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.

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