US Bancorp DE Has $51.66 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

US Bancorp DE cut its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 267,889 shares of the financial services provider’s stock after selling 8,708 shares during the period. US Bancorp DE owned 0.07% of The PNC Financial Services Group worth $51,662,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Winch Advisory Services LLC bought a new position in The PNC Financial Services Group during the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. increased its stake in shares of The PNC Financial Services Group by 2,333.3% during the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares during the last quarter. Albion Financial Group UT bought a new position in shares of The PNC Financial Services Group during the 4th quarter valued at $30,000. Synergy Asset Management LLC acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at $32,000. Finally, Whipplewood Advisors LLC bought a new stake in The PNC Financial Services Group in the fourth quarter worth $33,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Truist Financial raised their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a report on Friday, January 17th. Citigroup increased their price objective on 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. Piper Sandler boosted their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Morgan Stanley upped their target price on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. Finally, The Goldman Sachs Group lifted their price target on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, The PNC Financial Services Group has a consensus rating of “Hold” and an average price target of $205.00.

The PNC Financial Services Group Stock Up 1.9 %

Shares of PNC opened at $192.05 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The company has a 50-day simple moving average of $195.42 and a 200-day simple moving average of $192.49. The PNC Financial Services Group, Inc. has a 52 week low of $143.52 and a 52 week high of $216.26. The firm has a market capitalization of $76.00 billion, a P/E ratio of 13.97, a P/E/G ratio of 1.55 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results 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 PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the prior year, the firm posted $3.16 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a $1.60 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.33%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 46.55%.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $203.06, for a total transaction of $252,200.52. Following the completion of the transaction, the chief executive officer now directly owns 531,281 shares of the company’s stock, valued at approximately $107,881,919.86. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 12,420 shares of company stock worth $2,445,461 over the last 90 days. 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.