Stewardship Advisors LLC Buys 198 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Stewardship Advisors LLC grew its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 6.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,397 shares of the financial services provider’s stock after acquiring an additional 198 shares during the period. Stewardship Advisors LLC’s holdings in The PNC Financial Services Group were worth $428,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Aspire Private Capital LLC purchased a new stake in shares of The PNC Financial Services Group in the 1st quarter worth approximately $16,268,800,000. Elequin Securities LLC purchased a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $28,000. Centerpoint Advisors LLC purchased a new stake in shares of The PNC Financial Services Group during the 1st quarter worth $26,000. AXS Investments LLC bought a new stake in The PNC Financial Services Group during the fourth quarter valued at about $36,000. Finally, Ruedi Wealth Management Inc. purchased a new position in The PNC Financial Services Group in the fourth quarter valued at about $37,000. 80.14% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Performance

Shares of PNC traded down $0.62 during mid-day trading on Friday, reaching $126.35. The company had a trading volume of 3,619,483 shares, compared to its average volume of 1,825,007. The stock has a 50 day moving average of $126.35 and a two-hundred day moving average of $126.15. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $50.32 billion, a P/E ratio of 8.66, a PEG ratio of 1.16 and a beta of 1.15. The PNC Financial Services Group, Inc. has a 52-week low of $110.31 and a 52-week high of $170.27.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $3.36 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $0.05. The PNC Financial Services Group had a net margin of 21.97% and a return on equity of 13.27%. The business had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.45 billion. During the same quarter last year, the company earned $3.42 EPS. The business’s revenue was up 3.5% on a year-over-year basis. On average, analysts expect that The PNC Financial Services Group, Inc. will post 13.5 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, August 5th. Stockholders of record on Monday, July 17th were paid a dividend of $1.55 per share. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.50. This represents a $6.20 annualized dividend and a dividend yield of 4.91%. The ex-dividend date was Friday, July 14th. The PNC Financial Services Group’s dividend payout ratio is presently 42.49%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price target on shares of The PNC Financial Services Group from $186.00 to $176.00 in a report on Wednesday, July 19th. HSBC assumed coverage on The PNC Financial Services Group in a research report on Thursday, September 7th. They set a “reduce” rating and a $110.00 price target on the stock. Citigroup lowered their price objective on The PNC Financial Services Group from $150.00 to $145.00 in a research report on Thursday, June 8th. StockNews.com started coverage on The PNC Financial Services Group in a research note on Thursday, August 17th. They issued a “sell” rating for the company. Finally, Piper Sandler boosted their price target on The PNC Financial Services Group from $130.00 to $131.00 and gave the stock a “neutral” rating in a research note on Friday. Five analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $157.20.

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 certificates of 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.