Uhlmann Price Securities LLC Invests $261,000 in The PNC Financial Services Group, Inc $PNC

Key Points

• Uhlmann Price Securities LLC has invested approximately $261,000 in The PNC Financial Services Group, acquiring 1,400 shares of the company's stock in the second quarter.
• Analysts are optimistic about PNC's performance, with Piper Sandler upgrading the stock to "overweight" and raising its price target from $211.00 to $220.00.
• The company reported a quarterly earnings per share (EPS) of $4.35, exceeding estimates, and announced a quarterly dividend of $1.70 per share payable on November 5th.

Uhlmann Price Securities LLC acquired a new stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,400 shares of the financial services provider's stock, valued at approximately $261,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Saudi Central Bank acquired a new position in shares of The PNC Financial Services Group in the first quarter valued at approximately $27,000. Concord Wealth Partners increased its stake in shares of The PNC Financial Services Group by 144.9% in the second quarter. Concord Wealth Partners now owns 169 shares of the financial services provider's stock valued at $32,000 after buying an additional 100 shares during the period. Cornerstone Planning Group LLC increased its stake in shares of The PNC Financial Services Group by 50.8% in the first quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock valued at $34,000 after buying an additional 65 shares during the period. WPG Advisers LLC acquired a new position in shares of The PNC Financial Services Group in the first quarter valued at approximately $36,000. Finally, Fourth Dimension Wealth LLC acquired a new position in shares of The PNC Financial Services Group in the first quarter valued at approximately $41,000. Institutional investors and hedge funds own 83.53% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on PNC shares. Piper Sandler raised The PNC Financial Services Group from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $211.00 to $220.00 in a research note on Thursday, October 9th. Oppenheimer reaffirmed an "outperform" rating and issued a $240.00 price objective (up previously from $235.00) on shares of The PNC Financial Services Group in a research note on Thursday. Weiss Ratings reissued a "buy (b-)" rating on shares of The PNC Financial Services Group in a research report on Wednesday, October 8th. Wells Fargo & Company increased their target price on shares of The PNC Financial Services Group from $230.00 to $240.00 and gave the company an "overweight" rating in a research report on Friday, October 3rd. Finally, The Goldman Sachs Group increased their target price on shares of The PNC Financial Services Group from $178.00 to $196.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $218.47.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $179.30 on Monday. The company has a market cap of $70.61 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 1.25 and a beta of 1.10. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $216.26. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.06. The firm has a 50 day moving average of $198.10 and a 200-day moving average of $184.01.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, topping the consensus estimate of $4.05 by $0.30. The company had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.82 billion. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The company's quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.49 EPS. On average, equities analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $6.80 annualized dividend and a dividend yield of 3.8%. The PNC Financial Services Group's dividend payout ratio (DPR) is 43.93%.

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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