Peoples Financial Services CORP. Has $1.02 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Peoples Financial Services CORP. cut its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,103 shares of the financial services provider’s stock after selling 150 shares during the quarter. Peoples Financial Services CORP.’s holdings in The PNC Financial Services Group were worth $1,021,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Blair William & Co. IL increased its holdings in shares of The PNC Financial Services Group by 0.5% during the first quarter. Blair William & Co. IL now owns 16,997 shares of the financial services provider’s stock valued at $3,135,000 after acquiring an additional 89 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of The PNC Financial Services Group by 12.0% during the first quarter. Cetera Investment Advisers now owns 16,141 shares of the financial services provider’s stock valued at $2,977,000 after acquiring an additional 1,724 shares in the last quarter. Covestor Ltd increased its holdings in shares of The PNC Financial Services Group by 68.8% during the first quarter. Covestor Ltd now owns 336 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 137 shares in the last quarter. West Family Investments Inc. grew its holdings in The PNC Financial Services Group by 9.1% during the first quarter. West Family Investments Inc. now owns 1,164 shares of the financial services provider’s stock worth $215,000 after buying an additional 97 shares in the last quarter. Finally, Ergoteles LLC grew its holdings in The PNC Financial Services Group by 137.9% during the first quarter. Ergoteles LLC now owns 21,048 shares of the financial services provider’s stock worth $3,882,000 after buying an additional 12,201 shares in the last quarter. 80.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PNC has been the subject of several recent research reports. Morgan Stanley upped their price target on The PNC Financial Services Group from $137.00 to $144.00 and gave the stock an “underweight” rating in a report on Wednesday, July 19th. HSBC initiated coverage on The PNC Financial Services Group in a report on Thursday, September 7th. They set a “reduce” rating and a $110.00 price target for the company. Piper Sandler upped their price target on The PNC Financial Services Group from $130.00 to $131.00 and gave the stock a “neutral” rating in a report on Friday. Credit Suisse Group decreased their price target on The PNC Financial Services Group from $145.00 to $135.00 in a report on Wednesday, July 19th. Finally, StockNews.com began coverage on The PNC Financial Services Group in a research note on Thursday, August 17th. They issued a “sell” rating for the company. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $157.20.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC traded down $0.62 during trading on Friday, reaching $126.35. 3,619,483 shares of the stock traded hands, compared to its average volume of 1,825,007. The company has a 50-day moving average of $126.37 and a 200-day moving average of $125.71. The stock has a market capitalization of $50.32 billion, a P/E ratio of 8.66, a price-to-earnings-growth ratio of 1.16 and a beta of 1.15. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.82 and a quick ratio of 0.82. 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.31 by $0.05. The business had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.45 billion. The PNC Financial Services Group had a return on equity of 13.27% and a net margin of 21.97%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.42 EPS. Analysts forecast that The PNC Financial Services Group, Inc. will post 13.5 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

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

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 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.