Flavin Financial Services Inc. Takes Position in The PNC Financial Services Group, Inc $PNC

Key Points

• Flavin Financial Services acquired 13,966 PNC shares worth approximately $3.44 million, making PNC about 2% of its portfolio. Institutional investors collectively own 83.53% of the company.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and an average price target of $265.73; targets range from $264 to $280.
• PNC exceeded quarterly earnings and revenue expectations, reporting $4.85 in EPS and $6.88 billion in revenue. The company also raised its quarterly dividend to $2.00, equivalent to an annualized $8.00 payout and a 3.3% yield.

Flavin Financial Services Inc. purchased a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 13,966 shares of the financial services provider's stock, valued at approximately $3,439,000. The PNC Financial Services Group accounts for approximately 2.0% of Flavin Financial Services Inc.'s holdings, making the stock its 16th biggest position.

A number of other institutional investors have also recently bought and sold shares of the business. Monetary Solutions Ltd bought a new position in The PNC Financial Services Group during the fourth quarter worth about $25,000. Quarry LP bought a new position in The PNC Financial Services Group during the 3rd quarter worth about $25,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group in the 2nd quarter valued at about $28,000. Modus Advisors LLC bought a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at about $29,000. Finally, Financial Life Planners acquired a new position in shares of The PNC Financial Services Group during the first quarter worth about $31,000. Institutional investors and hedge funds own 83.53% of the company's stock.

Insider Activity at The PNC Financial Services Group

In other news, EVP Stephanie Novosel sold 1,800 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $228.73, for a total value of $411,714.00. Following the sale, the executive vice president directly owned 3,107 shares in the company, valued at approximately $710,664.11. This trade represents a 36.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Stacy M. Juchno sold 3,354 shares of the company's stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $255.84, for a total transaction of $858,087.36. Following the transaction, the executive vice president owned 18,800 shares of the company's stock, valued at approximately $4,809,792. This represents a 15.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 51,654 shares of company stock valued at $11,552,661. 0.38% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PNC has been the topic of several research reports. Royal Bank Of Canada boosted their target price on The PNC Financial Services Group from $235.00 to $273.00 and gave the company an "outperform" rating in a research note on Thursday, July 16th. Deutsche Bank Aktiengesellschaft downgraded shares of The PNC Financial Services Group from a "buy" rating to a "hold" rating and set a $265.00 target price for the company. in a research report on Thursday, July 23rd. Stephens increased their price objective on shares of The PNC Financial Services Group from $265.00 to $275.00 and gave the stock an "overweight" rating in a research note on Thursday, July 16th. Argus lifted their target price on The PNC Financial Services Group from $250.00 to $280.00 and gave the company a "buy" rating in a research report on Thursday, July 16th. Finally, Truist Financial increased their price target on The PNC Financial Services Group from $257.00 to $264.00 and gave the company a "hold" rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $265.73.

The PNC Financial Services Group Trading Down 0.0%

Shares of PNC opened at $243.05 on Monday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.84 and a current ratio of 0.85. The PNC Financial Services Group, Inc has a 52-week low of $176.88 and a 52-week high of $258.96. The firm has a market cap of $96.96 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 0.96 and a beta of 0.91. The business's fifty day moving average is $248.28 and its 200-day moving average is $229.35.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share for the quarter, topping the consensus estimate of $4.46 by $0.39. The business had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.51 billion. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The PNC Financial Services Group's revenue for the quarter was up 21.4% on a year-over-year basis. During the same period in the prior year, the company earned $3.85 EPS. Equities analysts anticipate that The PNC Financial Services Group, Inc will post 19.25 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.3%. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.70. The ex-dividend date of this dividend was Monday, July 20th. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 44.03%.

The PNC Financial Services Group Company 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.

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