Bank of New Hampshire reduced its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) by 3.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,026 shares of the financial services provider’s stock after selling 69 shares during the quarter. Bank of New Hampshire’s holdings in The PNC Financial Services Group were worth $374,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in PNC. Norges Bank acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $809,193,000. Capital Research Global Investors grew its stake in The PNC Financial Services Group by 10.7% in the fourth quarter. Capital Research Global Investors now owns 16,957,554 shares of the financial services provider’s stock valued at $3,400,329,000 after acquiring an additional 1,639,724 shares during the period. State Street Corp grew its stake in The PNC Financial Services Group by 2.8% in the fourth quarter. State Street Corp now owns 19,704,923 shares of the financial services provider’s stock valued at $3,951,231,000 after acquiring an additional 536,564 shares during the period. BlackRock Inc. boosted its position in shares of The PNC Financial Services Group by 1.6% during the fourth quarter. BlackRock Inc. now owns 29,974,459 shares of the financial services provider’s stock valued at $6,010,476,000 after buying an additional 486,126 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in shares of The PNC Financial Services Group by 19.6% during the fourth quarter. Deutsche Bank AG now owns 1,970,953 shares of the financial services provider’s stock valued at $395,215,000 after buying an additional 323,351 shares during the last quarter. 83.54% of the stock is owned by hedge funds and other institutional investors.
In other The PNC Financial Services Group news, Director Robert A. Niblock bought 2,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, May 6th. The stock was acquired at an average cost of $167.07 per share, for a total transaction of $334,140.00. Following the completion of the transaction, the director now directly owns 6,063 shares in the company, valued at $1,012,945.41. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Guild Deborah sold 1,257 shares of the business’s stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $170.56, for a total value of $214,393.92. Following the transaction, the executive vice president now owns 23,360 shares of the company’s stock, valued at $3,984,281.60. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.
Shares of PNC opened at $157.77 on Friday. The firm has a market cap of $65.25 billion, a PE ratio of 13.35, a PEG ratio of 2.25 and a beta of 1.24. The stock’s fifty day moving average price is $163.99 and its two hundred day moving average price is $186.32. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.75 and a quick ratio of 0.74. The PNC Financial Services Group, Inc. has a 1 year low of $149.51 and a 1 year high of $228.14.
The PNC Financial Services Group (NYSE:PNC – Get Rating) last released its quarterly earnings data on Thursday, April 14th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.78 by $0.51. The PNC Financial Services Group had a return on equity of 12.43% and a net margin of 26.14%. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.72 billion. During the same period in the previous year, the company posted $4.10 EPS. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. Sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 14.19 earnings per share for the current fiscal year.
Several research analysts recently issued reports on the company. Argus cut their target price on The PNC Financial Services Group from $245.00 to $220.00 in a research report on Monday, April 18th. Piper Sandler cut their target price on The PNC Financial Services Group from $215.00 to $201.00 and set a “neutral” rating on the stock in a research report on Friday, April 1st. Morgan Stanley cut their target price on The PNC Financial Services Group from $209.00 to $196.00 and set an “underweight” rating on the stock in a research report on Monday, March 28th. Wolfe Research cut their target price on The PNC Financial Services Group from $223.00 to $177.00 and set an “outperform” rating on the stock in a research report on Thursday, May 26th. Finally, StockNews.com initiated coverage on The PNC Financial Services Group in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. One equity research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average price target of $215.29.
The PNC Financial Services Group Profile (Get Rating)
The PNC Financial Services Group, Inc. operates as a diversified financial services company in the United States. The company’s Retail Banking segment offers brokerage, insurance, and investment and cash management services; checking, savings, and money market accounts; certificates of deposits; and lending products, which includes residential mortgages, home equity loans and lines of credit, auto loans, education loans, and personal and small business loans, and credit cards to consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels.
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