Colonial Trust Advisors Buys 1,893 Shares of The PNC Financial Services Group, Inc $PNC

Key Points

• Colonial Trust Advisors increased its stake in The PNC Financial Services Group by 52.9% to a total of 5,470 shares, valued at approximately $962,000 at the end of the reporting period.
• Several institutional investors, including Quantbot Technologies and Aptus Capital Advisors, have also significantly increased their positions in PNC shares during the same quarter, indicating strong investor interest.
• The PNC Financial Services Group announced a quarterly dividend increase from $1.60 to $1.70 per share, representing a yield of 3.5% and a payout ratio of 46.51%.

Colonial Trust Advisors lifted its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 52.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,470 shares of the financial services provider's stock after purchasing an additional 1,893 shares during the quarter. Colonial Trust Advisors' holdings in The PNC Financial Services Group were worth $962,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Quantbot Technologies LP bought a new stake in The PNC Financial Services Group in the 1st quarter worth approximately $31,726,000. Aptus Capital Advisors LLC increased its stake in The PNC Financial Services Group by 44.0% in the 1st quarter. Aptus Capital Advisors LLC now owns 31,915 shares of the financial services provider's stock worth $5,610,000 after acquiring an additional 9,747 shares during the last quarter. Brooklyn Investment Group increased its position in The PNC Financial Services Group by 60.8% in the first quarter. Brooklyn Investment Group now owns 3,492 shares of the financial services provider's stock worth $614,000 after purchasing an additional 1,321 shares during the last quarter. Prospector Partners LLC increased its position in The PNC Financial Services Group by 20.4% in the first quarter. Prospector Partners LLC now owns 110,843 shares of the financial services provider's stock worth $19,483,000 after purchasing an additional 18,798 shares during the last quarter. Finally, Versor Investments LP increased its position in The PNC Financial Services Group by 4.6% in the first quarter. Versor Investments LP now owns 9,100 shares of the financial services provider's stock worth $1,600,000 after purchasing an additional 400 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on 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 of the company's stock, valued at approximately $94,190,710.25. This trade represents a 0.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PNC shares. Wolfe Research restated a "peer perform" rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. The Goldman Sachs Group boosted their price objective on The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Truist Financial boosted their target price on The PNC Financial Services Group from $189.00 to $198.00 and gave the company a "hold" rating in a research report on Wednesday, July 9th. Raymond James Financial raised The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 target price on the stock in a research report on Tuesday, July 8th. Finally, Bank of America boosted their price objective on shares of The PNC Financial Services Group from $223.00 to $226.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $214.17.

The PNC Financial Services Group Price Performance

PNC opened at $192.06 on Tuesday. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month 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 0.99. The business's fifty day simple moving average is $189.24 and its 200-day simple moving average is $179.33. The company has a market capitalization of $75.63 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 1.42 and a beta of 1.09.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.56 by $0.29. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The company had revenue of $3.01 billion for the quarter, compared to analysts' expectations of $5.61 billion. During the same period in the prior year, the business earned $3.39 EPS. The firm's quarterly revenue was up 4.6% on a year-over-year basis. On average, equities research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th were given a dividend of $1.70 per share. This is a boost from The PNC Financial Services Group's previous quarterly dividend of $1.60. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $6.80 annualized dividend and a yield of 3.5%. The PNC Financial Services Group's payout ratio is 46.51%.

The PNC Financial Services Group Company 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 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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