First Citizens Bank & Trust Co. Acquires 372 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

First Citizens Bank & Trust Co. lifted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 6.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,080 shares of the financial services provider’s stock after purchasing an additional 372 shares during the period. First Citizens Bank & Trust Co.’s holdings in The PNC Financial Services Group were worth $941,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of The PNC Financial Services Group in the fourth quarter valued at about $735,469,000. Moneta Group Investment Advisors LLC increased its position in shares of The PNC Financial Services Group by 122,771.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,540,984 shares of the financial services provider’s stock valued at $401,323,000 after acquiring an additional 2,538,916 shares during the period. Morgan Stanley increased its position in shares of The PNC Financial Services Group by 28.7% in the fourth quarter. Morgan Stanley now owns 4,685,960 shares of the financial services provider’s stock valued at $740,101,000 after acquiring an additional 1,045,055 shares during the period. FMR LLC increased its position in shares of The PNC Financial Services Group by 6.7% in the third quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock valued at $1,758,880,000 after acquiring an additional 893,808 shares during the period. Finally, T. Rowe Price Investment Management Inc. increased its position in shares of The PNC Financial Services Group by 7.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 13,070,513 shares of the financial services provider’s stock valued at $2,064,357,000 after acquiring an additional 860,489 shares during the period. Institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

PNC has been the topic of a number of analyst reports. The Goldman Sachs Group boosted their price objective on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research report on Monday. Keefe, Bruyette & Woods boosted their price target on shares of The PNC Financial Services Group from $125.00 to $145.00 and gave the company an “underperform” rating in a research report on Wednesday, January 3rd. Wells Fargo & Company boosted their price target on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and boosted their price target for the company from $141.00 to $155.00 in a research report on Thursday, March 28th. Finally, Piper Sandler boosted their price target on shares of The PNC Financial Services Group from $125.00 to $143.00 and gave the company a “neutral” rating in a research report on Friday, December 8th. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $154.18.

Insider Activity at The PNC Financial Services Group

In related news, EVP Michael J. Hannon sold 3,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the transaction, the executive vice president now owns 36,570 shares in the company, valued at $5,442,347.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Trading Down 1.5 %

Shares of NYSE PNC opened at $157.54 on Wednesday. The firm’s 50 day moving average price is $150.69 and its 200-day moving average price is $139.15. The company has a market cap of $62.67 billion, a PE ratio of 12.32, a P/E/G ratio of 1.84 and a beta of 1.18. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $162.24. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.84 and a current ratio of 0.84.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $1.04. The firm had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.30 billion. The PNC Financial Services Group had a net margin of 17.50% and a return on equity of 12.27%. The business’s revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.49 earnings per share. On average, equities research analysts expect that The PNC Financial Services Group, Inc. will post 12.41 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 5th. Investors of record on Tuesday, January 16th were given a dividend of $1.55 per share. The ex-dividend date was Friday, January 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.94%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 48.48%.

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 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.