The PNC Financial Services Group, Inc $PNC Shares Purchased by Vise Technologies Inc.

Key Points

• Vise Technologies Inc. increased its stake in PNC by 70.2% in the fourth quarter, bringing its holdings to 11,098 shares valued at about $2.32 million.
• Wall Street sentiment remains constructive: several firms raised price targets, and PNC now carries a consensus “Moderate Buy” rating with an average target price of $243.11.
• PNC reported strong quarterly earnings of $4.32 per share, beating estimates, and also paid a quarterly dividend of $1.70 per share, implying a 3.0% annualized yield.

Vise Technologies Inc. raised its stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 70.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,098 shares of the financial services provider's stock after acquiring an additional 4,577 shares during the period. Vise Technologies Inc.'s holdings in The PNC Financial Services Group were worth $2,317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. US Bancorp DE boosted its stake in The PNC Financial Services Group by 13.4% in the third quarter. US Bancorp DE now owns 287,236 shares of the financial services provider's stock valued at $57,714,000 after acquiring an additional 34,009 shares in the last quarter. Vanguard Group Inc. boosted its stake in The PNC Financial Services Group by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider's stock valued at $8,114,168,000 after acquiring an additional 408,464 shares in the last quarter. Teamwork Financial Advisors LLC acquired a new position in The PNC Financial Services Group in the fourth quarter valued at $13,711,000. Truist Financial Corp boosted its stake in The PNC Financial Services Group by 3.3% in the fourth quarter. Truist Financial Corp now owns 1,242,483 shares of the financial services provider's stock valued at $259,344,000 after acquiring an additional 39,589 shares in the last quarter. Finally, Candriam S.C.A. raised its holdings in shares of The PNC Financial Services Group by 8.0% in the third quarter. Candriam S.C.A. now owns 178,811 shares of the financial services provider's stock valued at $35,928,000 after buying an additional 13,321 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PNC. Bank of America upped their target price on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the company a "buy" rating in a report on Thursday, April 16th. JPMorgan Chase & Co. upped their target price on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of The PNC Financial Services Group in a report on Friday, March 27th. Truist Financial upped their target price on shares of The PNC Financial Services Group from $234.00 to $245.00 and gave the company a "hold" rating in a report on Thursday, April 16th. Finally, Barclays upped their target price on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the company an "overweight" rating in a report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $243.11.

Insider Transactions at The PNC Financial Services Group

In related news, Director Andrew T. Feldstein sold 45,000 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the completion of the transaction, the director directly owned 10,749 shares of the company's stock, valued at $2,370,906.93. This represents a 80.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.38% of the stock is owned by corporate insiders.

The PNC Financial Services Group Trading Up 0.7%

NYSE PNC opened at $228.76 on Friday. The stock has a market capitalization of $91.86 billion, a P/E ratio of 13.29, a P/E/G ratio of 0.95 and a beta of 0.92. The PNC Financial Services Group, Inc has a 52-week low of $172.73 and a 52-week high of $243.94. The firm has a 50-day moving average price of $218.12 and a 200 day moving average price of $214.36. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.92 by $0.40. The firm had revenue of $6.17 billion during the quarter, compared to analysts' expectations of $6.21 billion. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The firm's revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.51 earnings per share. Equities research analysts expect that The PNC Financial Services Group, Inc will post 18.93 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Tuesday, April 14th. The PNC Financial Services Group's dividend payout ratio is currently 39.51%.

The PNC Financial Services Group 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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