Whittier Trust Co. of Nevada Inc. Has $18.71 Million Stake in The PNC Financial Services Group, Inc $PNC

Key Points

• Whittier Trust Co. of Nevada Inc. increased its stake in The PNC Financial Services Group by 3.3%, holding 100,372 shares worth approximately $18.71 million.
• Analysts have raised their price targets for PNC, with Raymond James adjusting theirs to $225 and Evercore ISI to $230, both maintaining an "outperform" rating.
• The PNC Financial Services Group is set to pay a quarterly dividend of $1.70 on November 5th, with an annualized yield of 3.7%.

Whittier Trust Co. of Nevada Inc. lifted its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 3.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,372 shares of the financial services provider's stock after buying an additional 3,215 shares during the period. Whittier Trust Co. of Nevada Inc.'s holdings in The PNC Financial Services Group were worth $18,711,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of PNC. Saudi Central Bank acquired a new position in shares of The PNC Financial Services Group during the first quarter worth about $27,000. Concord Wealth Partners boosted its position in shares of The PNC Financial Services Group by 144.9% during the second quarter. Concord Wealth Partners now owns 169 shares of the financial services provider's stock worth $32,000 after buying an additional 100 shares during the period. Cornerstone Planning Group LLC boosted its position in shares of The PNC Financial Services Group by 50.8% during the first quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock worth $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 during the first quarter worth about $36,000. Finally, Fourth Dimension Wealth LLC acquired a new position in shares of The PNC Financial Services Group during the first quarter worth about $41,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PNC has been the topic of several analyst reports. Raymond James Financial upped their target price on The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an "outperform" rating in a report on Friday, September 19th. Evercore ISI upped their target price on The PNC Financial Services Group from $220.00 to $230.00 and gave the stock an "outperform" rating in a report on Tuesday, September 30th. Wolfe Research reiterated a "peer perform" rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. Weiss Ratings reiterated a "buy (b-)" rating on shares of The PNC Financial Services Group in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods upgraded The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and upped their target price for the stock from $185.00 to $212.00 in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $218.47.

The PNC Financial Services Group Price Performance

NYSE:PNC opened at $182.26 on Tuesday. 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 stock's 50 day moving average price is $197.97 and its two-hundred day moving average price is $184.22. The firm has a market capitalization of $71.78 billion, a price-to-earnings ratio of 11.77, a P/E/G ratio of 1.25 and a beta of 1.10. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.05 by $0.30. The firm had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.82 billion. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The business's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.49 earnings per share. On average, 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th will be paid a $1.70 dividend. The ex-dividend date is Tuesday, October 14th. This represents a $6.80 annualized dividend and a yield of 3.7%. The PNC Financial Services Group's dividend payout ratio is currently 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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