Fidelity D & D Bancorp Inc. Boosts Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Fidelity D & D Bancorp Inc. raised its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,708 shares of the financial services provider’s stock after acquiring an additional 138 shares during the period. The PNC Financial Services Group makes up 1.2% of Fidelity D & D Bancorp Inc.’s investment portfolio, making the stock its 22nd largest position. Fidelity D & D Bancorp Inc.’s holdings in The PNC Financial Services Group were worth $1,795,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Loomis Sayles & Co. L P increased its stake in The PNC Financial Services Group by 8.7% in the third quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock valued at $115,000 after acquiring an additional 50 shares during the last quarter. MFA Wealth Advisors LLC lifted its stake in The PNC Financial Services Group by 5.4% during the third quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider’s stock worth $200,000 after purchasing an additional 55 shares during the last quarter. Resonant Capital Advisors LLC boosted its holdings in shares of The PNC Financial Services Group by 0.3% in the 3rd quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider’s stock worth $3,148,000 after purchasing an additional 56 shares in the last quarter. Altman Advisors Inc. increased its position in shares of The PNC Financial Services Group by 0.5% during the 3rd quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider’s stock valued at $1,942,000 after purchasing an additional 56 shares during the last quarter. Finally, Valley Brook Capital Group Inc. raised its holdings in shares of The PNC Financial Services Group by 0.5% during the 3rd quarter. Valley Brook Capital Group Inc. now owns 10,655 shares of the financial services provider’s stock valued at $1,969,000 after buying an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the transaction, the director now owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. This trade represents a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $186.45, for a total transaction of $231,570.90. Following the completion of the sale, the chief executive officer now directly owns 550,975 shares in the company, valued at $102,729,288.75. This represents a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,030 shares of company stock worth $5,873,691 over the last 90 days. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Trading Down 0.7 %

Shares of PNC stock traded down $1.37 during trading hours on Friday, reaching $200.94. The company’s stock had a trading volume of 71,958 shares, compared to its average volume of 1,859,085. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The PNC Financial Services Group, Inc. has a one year low of $139.69 and a one year high of $216.26. The stock has a market capitalization of $79.73 billion, a P/E ratio of 17.10, a P/E/G ratio of 2.13 and a beta of 1.15. The firm’s fifty day simple moving average is $198.46 and its 200 day simple moving average is $179.61.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.30 by $0.19. The business had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.60 earnings per share. Equities research analysts expect that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.19%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PNC shares. Piper Sandler upped 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. Stephens increased their target price on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Wells Fargo & Company lifted their target price on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Evercore ISI upped their price target on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Barclays lifted their price objective on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and an average price target of $198.02.

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.