Stableford Capital II LLC Invests $657,000 in The PNC Financial Services Group, Inc $PNC

Key Points

• Stableford Capital II LLC invested approximately $657,000 in The PNC Financial Services Group, Inc during Q2, acquiring 3,351 shares of the company.
• Several institutional investors, including the Saudi Central Bank and Cornerstone Planning Group LLC, have recently increased their stakes in PNC, highlighting growing institutional interest with 83.53% of the company's stock now owned by such investors.
• The PNC Financial Services Group reported strong quarterly earnings of $4.35 per share, surpassing analysts' expectations, while announcing a quarterly dividend of $1.70 per share with a yield of 3.7%.

Stableford Capital II LLC acquired a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,351 shares of the financial services provider's stock, valued at approximately $657,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in PNC. Saudi Central Bank bought a new stake in shares of The PNC Financial Services Group during the 1st quarter worth approximately $27,000. Concord Wealth Partners lifted its holdings in The PNC Financial Services Group by 144.9% during the 2nd quarter. Concord Wealth Partners now owns 169 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. Cornerstone Planning Group LLC lifted its holdings in The PNC Financial Services Group by 50.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 65 shares during the last quarter. WPG Advisers LLC acquired a new stake in The PNC Financial Services Group during the 1st quarter valued at $36,000. Finally, Fourth Dimension Wealth LLC acquired a new stake in The PNC Financial Services Group during the 1st quarter valued at $41,000. Institutional investors own 83.53% of the company's stock.

Analyst Ratings Changes

PNC has been the subject of several research reports. Raymond James Financial raised their price target on The PNC Financial Services Group from $220.00 to $225.00 and gave the company an "outperform" rating in a report on Friday, September 19th. Oppenheimer cut their price target on The PNC Financial Services Group from $238.00 to $235.00 and set an "outperform" rating for the company in a report on Tuesday, September 23rd. Wells Fargo & Company raised their price target on The PNC Financial Services Group from $230.00 to $240.00 and gave the company an "overweight" rating in a report on Friday, October 3rd. Morgan Stanley raised their price target on The PNC Financial Services Group from $186.00 to $206.00 and gave the company an "underweight" rating in a report on Monday, September 29th. Finally, Evercore ISI increased their price objective on The PNC Financial Services Group from $220.00 to $230.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $218.21.

The PNC Financial Services Group Stock Down 4.0%

PNC stock opened at $182.21 on Thursday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $71.76 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 1.32 and a beta of 1.10. The business's fifty day moving average price is $198.48 and its two-hundred day moving average price is $183.76. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, topping the consensus estimate of $4.05 by $0.30. The firm had revenue of $5.92 billion for the quarter, compared to analysts' expectations of $5.82 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 8.9% compared to the same quarter last year. During the same quarter last year, the business earned $3.49 EPS. On average, equities analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, October 14th. The PNC Financial Services Group's dividend payout ratio is 46.51%.

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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