The PNC Financial Services Group, Inc $PNC Stock: Founders Financial Securities LLC Raises Stake

Key Points

• Founders Financial Securities increased its PNC stake by 31.3% in the third quarter, owning 24,797 shares worth approximately $5.5 million. Institutional investors collectively hold 83.53% of PNC’s outstanding shares.
• PNC reported quarterly EPS of $5.09, exceeding analyst expectations of $4.91, while revenue reached $6.60 billion, up 10.9% year over year but slightly below estimates.
• Analysts maintain a “Moderate Buy” consensus, with 17 Buy ratings and eight Holds and an average price target of $266.13. PNC also announced an annualized dividend of $8.00 per share, representing a 3.5% yield.

Founders Financial Securities LLC raised its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 31.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,797 shares of the financial services provider's stock after purchasing an additional 5,909 shares during the quarter. Founders Financial Securities LLC's holdings in The PNC Financial Services Group were worth $5,511,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of PNC. Everett Harris & Co. CA grew its holdings in The PNC Financial Services Group by 3.3% during the 3rd quarter. Everett Harris & Co. CA now owns 1,535 shares of the financial services provider's stock valued at $341,000 after buying an additional 49 shares in the last quarter. Choreo LLC grew its stake in The PNC Financial Services Group by 2.5% during the third quarter. Choreo LLC now owns 18,866 shares of the financial services provider's stock valued at $4,193,000 after acquiring an additional 457 shares in the last quarter. Livelsberger Financial Advisory purchased a new position in The PNC Financial Services Group during the third quarter valued at $148,000. Childress Capital Advisors LLC increased its holdings in The PNC Financial Services Group by 5.7% in the 3rd quarter. Childress Capital Advisors LLC now owns 1,776 shares of the financial services provider's stock valued at $395,000 after acquiring an additional 95 shares during the last quarter. Finally, North Dakota State Investment Board increased its holdings in The PNC Financial Services Group by 6.2% in the 3rd quarter. North Dakota State Investment Board now owns 12,299 shares of the financial services provider's stock valued at $2,734,000 after acquiring an additional 721 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Stacy Juchno sold 3,354 shares of The PNC Financial Services Group stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $255.84, for a total transaction of $858,087.36. Following the completion of the sale, the executive vice president directly owned 18,800 shares of the company's stock, valued at $4,809,792. The trade was a 15.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on PNC shares. Wells Fargo & Company increased their price objective on shares of The PNC Financial Services Group from $270.00 to $285.00 and gave the company an "overweight" rating in a research report on Thursday, July 16th. The Goldman Sachs Group cut their price target on The PNC Financial Services Group from $281.00 to $250.00 and set a "neutral" rating on the stock in a research note on Monday, October 5th. Evercore decreased their target price on shares of The PNC Financial Services Group from $265.00 to $260.00 and set an "outperform" rating for the company in a research report on Monday, October 19th. Truist Financial dropped their price objective on shares of The PNC Financial Services Group from $252.00 to $248.00 and set a "hold" rating on the stock in a report on Monday, October 19th. Finally, Deutsche Bank Aktiengesellschaft cut The PNC Financial Services Group from a "buy" rating to a "hold" rating and lifted their price target for the stock from $230.00 to $265.00 in a research report on Thursday, July 23rd. Seventeen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $266.13.

The PNC Financial Services Group Trading Up 1.5%

Shares of PNC opened at $231.78 on Friday. The firm has a market capitalization of $92.47 billion, a P/E ratio of 12.34, a P/E/G ratio of 1.18 and a beta of 0.94. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.23. The firm has a 50-day moving average price of $230.32 and a 200 day moving average price of $228.82. The PNC Financial Services Group, Inc has a 12-month low of $177.08 and a 12-month high of $258.96.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its earnings results on Thursday, October 15th. The financial services provider reported $5.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.91 by $0.18. The PNC Financial Services Group had a return on equity of 12.82% and a net margin of 21.83%. The company had revenue of $6.60 billion during the quarter, compared to analysts' expectations of $6.61 billion. During the same quarter last year, the firm earned $4.35 earnings per share. The firm's quarterly revenue was up 10.9% compared to the same quarter last year. Sell-side analysts forecast that The PNC Financial Services Group, Inc will post 19.22 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 5th. Stockholders of record on Wednesday, October 14th will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.5%. The PNC Financial Services Group's dividend payout ratio is currently 42.58%.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its principal banking subsidiary, PNC Bank, the company provides banking, lending, investment, and related financial services to individuals, small businesses, corporations, government entities, and institutional clients.

PNC's consumer offerings include checking and savings accounts, credit cards, mortgages, home equity loans, personal lending, and online and mobile banking.

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