Grove Bank & Trust Raises Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Grove Bank & Trust raised its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 10.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,931 shares of the financial services provider’s stock after buying an additional 373 shares during the quarter. Grove Bank & Trust’s holdings in The PNC Financial Services Group were worth $758,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Aaron Wealth Advisors LLC boosted its stake in The PNC Financial Services Group by 14.5% during the fourth quarter. Aaron Wealth Advisors LLC now owns 1,598 shares of the financial services provider’s stock worth $308,000 after acquiring an additional 202 shares in the last quarter. Smith Salley Wealth Management grew its stake in shares of The PNC Financial Services Group by 0.9% in the 4th quarter. Smith Salley Wealth Management now owns 63,008 shares of the financial services provider’s stock worth $12,151,000 after buying an additional 553 shares during the last quarter. Financial Management Professionals Inc. increased its position in The PNC Financial Services Group by 13.8% during the 4th quarter. Financial Management Professionals Inc. now owns 2,780 shares of the financial services provider’s stock valued at $536,000 after buying an additional 337 shares in the last quarter. Ameritas Advisory Services LLC raised its stake in The PNC Financial Services Group by 73.7% during the fourth quarter. Ameritas Advisory Services LLC now owns 3,889 shares of the financial services provider’s stock valued at $750,000 after buying an additional 1,650 shares during the last quarter. Finally, HB Wealth Management LLC boosted its holdings in The PNC Financial Services Group by 13.7% in the fourth quarter. HB Wealth Management LLC now owns 43,056 shares of the financial services provider’s stock worth $8,303,000 after acquiring an additional 5,182 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Up 0.9 %

Shares of PNC stock opened at $198.36 on Monday. The company has a 50 day simple moving average of $201.40 and a two-hundred day simple moving average of $187.23. The stock has a market cap of $78.71 billion, a P/E ratio of 16.77, a P/E/G ratio of 1.77 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 12 month low of $139.69 and a 12 month high of $216.26. 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 (NYSE:PNC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same period in the prior year, the business posted $3.16 EPS. The PNC Financial Services Group’s revenue was up 3.8% on a year-over-year basis. On average, research analysts expect that The PNC Financial Services Group, Inc. will post 13.47 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.23%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is 54.10%.

Insiders Place Their Bets

In related news, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction that occurred 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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $192.88, for a total value of $239,556.96. Following the completion of the transaction, the chief executive officer now owns 526,313 shares of the company’s stock, valued at $101,515,251.44. The trade was a 0.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,030 shares of company stock worth $5,928,202. Company insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Barclays lifted their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Wells Fargo & Company upped 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 note on Friday, November 15th. Stephens reissued an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research report on Friday. Piper Sandler upped their price objective on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Finally, The Goldman Sachs Group boosted their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $205.00.

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.