Folger Nolan Fleming Douglas Capital Management Inc. Purchases 333 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Folger Nolan Fleming Douglas Capital Management Inc. increased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 6.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,547 shares of the financial services provider’s stock after buying an additional 333 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in The PNC Financial Services Group were worth $1,070,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Winch Advisory Services LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth about $25,000. Valley Wealth Managers Inc. increased its position in The PNC Financial Services Group by 20,000.0% during the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 200 shares during the period. Capital Performance Advisors LLP bought a new stake in The PNC Financial Services Group in the 3rd quarter valued at $51,000. Quarry LP grew its position in The PNC Financial Services Group by 141.7% in the 2nd quarter. Quarry LP now owns 290 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 170 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of The PNC Financial Services Group by 231.6% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 220 shares during the period. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $198.36 on Friday. The stock’s fifty day simple moving average is $201.51 and its 200 day simple moving average is $186.74. 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 company has a market capitalization of $78.71 billion, a PE ratio of 16.77, a PEG 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 PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter last year, the firm posted $3.16 earnings per share. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. On average, research analysts predict that The PNC Financial Services Group, Inc. will post 13.47 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Investors 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 yield of 3.23%. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Compass Point lifted 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 report on Tuesday, December 10th. Citigroup increased their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Truist Financial lifted their price objective on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a report on Friday. Stephens reissued an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a report on Friday. Finally, Piper Sandler boosted their price target on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group has an average rating of “Hold” and a consensus price target of $205.00.

Insider Activity

In related news, Director Andrew T. Feldstein sold 14,509 shares of the 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 completion of the transaction, the director now directly owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. This represents a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $192.88, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,030 shares of company stock worth $5,928,202 over the last three months. Corporate 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.