Sandy Spring Bank Acquires 286 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Sandy Spring Bank increased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNCFree Report) by 6.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,854 shares of the financial services provider’s stock after purchasing an additional 286 shares during the quarter. Sandy Spring Bank’s holdings in The PNC Financial Services Group were worth $596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. State Street Corp grew its holdings in shares of The PNC Financial Services Group by 1.0% during the 2nd quarter. State Street Corp now owns 17,127,040 shares of the financial services provider’s stock worth $2,157,151,000 after acquiring an additional 170,387 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in shares of The PNC Financial Services Group by 7.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 13,070,513 shares of the financial services provider’s stock worth $2,064,357,000 after acquiring an additional 860,489 shares during the period. Capital International Investors grew its holdings in shares of The PNC Financial Services Group by 615.1% during the 2nd quarter. Capital International Investors now owns 8,623,735 shares of the financial services provider’s stock worth $1,086,142,000 after acquiring an additional 7,417,830 shares during the period. Geode Capital Management LLC grew its holdings in shares of The PNC Financial Services Group by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 7,369,554 shares of the financial services provider’s stock worth $925,399,000 after acquiring an additional 150,470 shares during the period. Finally, Morgan Stanley grew its holdings in shares of The PNC Financial Services Group by 28.7% during the 4th quarter. Morgan Stanley now owns 4,685,960 shares of the financial services provider’s stock worth $740,101,000 after acquiring an additional 1,045,055 shares during the period. 80.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on PNC. Keefe, Bruyette & Woods upped their target price on The PNC Financial Services Group from $125.00 to $145.00 and gave the stock an “underperform” rating in a report on Wednesday, January 3rd. Morgan Stanley cut their price target on The PNC Financial Services Group from $144.00 to $142.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 3rd. Jefferies Financial Group upped their price target on The PNC Financial Services Group from $112.00 to $127.00 in a research note on Tuesday, October 10th. Bank of America upgraded The PNC Financial Services Group from an “underperform” rating to a “neutral” rating in a research note on Tuesday, October 10th. Finally, Piper Sandler upped their price target on The PNC Financial Services Group from $125.00 to $143.00 and gave the stock a “neutral” rating in a research note on Friday, December 8th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $147.43.

View Our Latest Research Report on PNC

The PNC Financial Services Group Trading Down 1.4 %

NYSE:PNC opened at $148.92 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $59.32 billion, a price-to-earnings ratio of 10.34, a price-to-earnings-growth ratio of 1.77 and a beta of 1.18. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $167.12. The business has a fifty day moving average price of $141.00 and a 200-day moving average price of $129.54.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last posted its quarterly earnings data on Friday, October 13th. The financial services provider reported $3.60 EPS for the quarter, topping the consensus estimate of $3.10 by $0.50. The PNC Financial Services Group had a return on equity of 12.91% and a net margin of 20.39%. The firm had revenue of $5.23 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same period in the prior year, the business posted $3.78 EPS. The PNC Financial Services Group’s revenue was down 5.7% on a year-over-year basis. Sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 13.74 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 5th. Stockholders of record on Tuesday, January 16th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, January 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.16%. The PNC Financial Services Group’s payout ratio is 43.03%.

Insider Activity

In other news, EVP Guild Deborah sold 1,533 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $132.51, for a total transaction of $203,137.83. Following the completion of the transaction, the executive vice president now owns 17,092 shares in the company, valued at $2,264,860.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.39% of the company’s stock.

The PNC Financial Services Group Profile

(Free Report)

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 certificates of 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.

See Also

Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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