Sandy Spring Bank Acquires 67 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Sandy Spring Bank grew its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,901 shares of the financial services provider’s stock after buying an additional 67 shares during the quarter. Sandy Spring Bank’s holdings in The PNC Financial Services Group were worth $945,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of The PNC Financial Services Group by 25.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock valued at $7,739,000 after buying an additional 8,081 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its holdings in shares of The PNC Financial Services Group by 48.5% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock valued at $5,160,000 after buying an additional 8,735 shares during the last quarter. Mn Services Vermogensbeheer B.V. grew its holdings in shares of The PNC Financial Services Group by 2.0% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 156,609 shares of the financial services provider’s stock valued at $30,202,000 after buying an additional 3,100 shares during the last quarter. Root Financial Partners LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $346,000. Finally, Truist Financial Corp grew its holdings in shares of The PNC Financial Services Group by 1.4% during the fourth quarter. Truist Financial Corp now owns 1,132,634 shares of the financial services provider’s stock valued at $218,429,000 after buying an additional 15,246 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Down 0.0 %

Shares of PNC stock opened at $173.35 on Friday. The company has a market capitalization of $68.60 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 1.55 and a beta of 1.13. The PNC Financial Services Group, Inc. has a one year low of $143.52 and a one year high of $216.26. The company’s fifty day moving average price is $190.03 and its 200-day moving average price is $192.22. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating the consensus estimate of $3.26 by $0.51. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate 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 company’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm earned $3.16 EPS. Sell-side analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.69%. The PNC Financial Services Group’s payout ratio is 46.55%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PNC shares. Citigroup increased their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, November 25th. Morgan Stanley raised their target price on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a report on Friday, January 17th. Stephens restated an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a report on Friday, January 17th. The Goldman Sachs Group dropped their target price on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Compass Point raised their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a report 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 company. Based on data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and a consensus target price of $203.71.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $192.15, for a total value of $238,650.30. Following the sale, the chief executive officer now directly owns 527,555 shares in the company, valued at approximately $101,369,693.25. The trade was a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 12,420 shares of company stock worth $2,369,165 in the last three months. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group 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.