Interchange Capital Partners LLC Trims Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Interchange Capital Partners LLC lessened its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,104 shares of the financial services provider’s stock after selling 173 shares during the quarter. Interchange Capital Partners LLC’s holdings in The PNC Financial Services Group were worth $792,000 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. Loomis Sayles & Co. L P grew its holdings in shares of The PNC Financial Services Group by 8.7% during the third quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 50 shares in the last quarter. Baltimore Washington Financial Advisors Inc. grew its holdings in shares of The PNC Financial Services Group by 3.1% during the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider’s stock worth $324,000 after purchasing an additional 51 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of The PNC Financial Services Group by 2.4% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider’s stock worth $434,000 after purchasing an additional 53 shares in the last quarter. Transcend Capital Advisors LLC lifted its position in The PNC Financial Services Group by 1.8% in the 4th quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider’s stock worth $616,000 after buying an additional 55 shares during the last quarter. Finally, Valmark Advisers Inc. lifted its position in The PNC Financial Services Group by 1.4% in the 4th quarter. Valmark Advisers Inc. now owns 4,010 shares of the financial services provider’s stock worth $773,000 after buying an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $192.15, for a total value of $238,650.30. Following the sale, the chief executive officer now directly owns 527,555 shares of the company’s stock, valued at $101,369,693.25. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 12,420 shares of company stock valued at $2,369,165 over the last ninety days. Company insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

PNC has been the subject of a number of recent research reports. Stephens restated an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Barclays boosted their price objective on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Piper Sandler boosted their price objective on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Truist Financial boosted their price objective on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research report on Friday, January 17th. Finally, Citigroup boosted their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus target price of $203.71.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $173.35 on Monday. The stock has a market cap of $68.60 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 1.55 and a beta of 1.13. The business’s fifty day moving average is $190.03 and its 200 day moving average is $192.34. The PNC Financial Services Group, Inc. has a twelve month low of $143.52 and a twelve month high of $216.26. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.51. The company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.16 earnings per share. Research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were paid a $1.60 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.69%. The PNC Financial Services Group’s payout ratio is 46.55%.

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 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.