First Citizens Bank & Trust Co. Buys 285 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

First Citizens Bank & Trust Co. raised its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,891 shares of the financial services provider’s stock after acquiring an additional 285 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in The PNC Financial Services Group were worth $1,522,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Winch Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $25,000. Albion Financial Group UT purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $30,000. Valley Wealth Managers Inc. lifted its holdings in shares of The PNC Financial Services Group by 20,000.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 200 shares during the last quarter. Quarry LP lifted its holdings in shares of The PNC Financial Services Group by 141.7% during the 2nd quarter. Quarry LP now owns 290 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 170 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of The PNC Financial Services Group during the 3rd quarter valued at $51,000. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $199.49 on Monday. The stock has a market capitalization of $79.15 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 1.59 and a beta of 1.16. The PNC Financial Services Group, Inc. has a one year low of $139.69 and a one year high of $216.26. The company has a 50-day simple moving average of $200.29 and a 200-day simple moving average of $188.61. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.51. The firm had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $3.16 earnings per share. On average, analysts predict that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be given a $1.60 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.21%. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Truist Financial raised their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Citigroup raised their target price on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Keefe, Bruyette & Woods raised their target price on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 16th. Piper Sandler raised their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Compass Point raised their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and a consensus price target of $205.00.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $189.50, for a total value of $235,359.00. Following the sale, the chief executive officer now directly owns 543,523 shares in the company, valued at $102,997,608.50. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares in the company, valued at $8,119,768.41. This represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,171 shares of company stock worth $5,777,926 over the last ninety days. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Company Profile

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.