Huntington National Bank Reduces Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Huntington National Bank decreased its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 102,399 shares of the financial services provider’s stock after selling 873 shares during the quarter. Huntington National Bank’s holdings in The PNC Financial Services Group were worth $19,748,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Winch Advisory Services LLC purchased a new position in shares of The PNC Financial Services Group during the 4th quarter worth $25,000. Richardson Financial Services Inc. raised its position in The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares in the last quarter. Albion Financial Group UT acquired a new position in The PNC Financial Services Group during the 4th quarter worth approximately $30,000. Rialto Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth $32,000. Finally, Synergy Asset Management LLC acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PNC. Truist Financial lifted their price target on shares of 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. Compass Point lifted their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Morgan Stanley boosted their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. The Goldman Sachs Group reduced their price target 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, March 19th. Finally, Stephens reaffirmed an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $204.12.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were 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 directly owns 526,313 shares of the company’s stock, valued at $101,515,251.44. This represents a 0.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders sold 13,662 shares of company stock valued at $2,559,389. Corporate insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Stock Down 0.7 %

Shares of NYSE PNC opened at $174.58 on Wednesday. The stock has a fifty day moving average price of $186.98 and a 200 day moving average price of $192.18. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a 12-month low of $143.52 and a 12-month high of $216.26. The company has a market cap of $69.09 billion, a P/E ratio of 12.70, a P/E/G ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $3.16 earnings per share. Research analysts anticipate 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 announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were paid a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.67%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

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.