First National Bank of South Miami Sells 182 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

First National Bank of South Miami decreased its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 10.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,594 shares of the financial services provider’s stock after selling 182 shares during the period. First National Bank of South Miami’s holdings in The PNC Financial Services Group were worth $201,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

PNC has been the topic of several recent research reports. Odeon Capital Group downgraded The PNC Financial Services Group from a “buy” rating to a “hold” rating in a research note on Friday, July 21st. Wells Fargo & Company decreased their target price on shares of The PNC Financial Services Group from $186.00 to $176.00 in a research report on Wednesday, July 19th. Piper Sandler boosted their price target on shares of The PNC Financial Services Group from $130.00 to $131.00 and gave the stock a “neutral” rating in a research report on Friday. Credit Suisse Group decreased their price objective on The PNC Financial Services Group from $145.00 to $135.00 in a report on Wednesday, July 19th. Finally, HSBC started coverage on The PNC Financial Services Group in a report on Thursday, September 7th. They set a “reduce” rating and a $110.00 target price on the stock. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Hold” and an average price target of $157.20.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $124.68 on Tuesday. The PNC Financial Services Group, Inc. has a twelve month low of $110.31 and a twelve month high of $170.27. 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 business has a fifty day simple moving average of $126.37 and a 200 day simple moving average of $125.50. The company has a market cap of $49.66 billion, a P/E ratio of 8.55, a P/E/G ratio of 1.16 and a beta of 1.15.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results 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 firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.45 billion. The PNC Financial Services Group had a net margin of 21.97% and a return on equity of 13.27%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.42 earnings per share. On average, sell-side 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 announced a quarterly dividend, which was paid on Saturday, August 5th. Shareholders of record on Monday, July 17th were paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date of this dividend was Friday, July 14th. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.50. The PNC Financial Services Group’s payout ratio is presently 42.49%.

About The PNC Financial Services Group

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.