Zions Bancorporation N.A. Trims Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Zions Bancorporation N.A. lowered its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.4% in the 4th quarter, Holdings Channel reports. The fund owned 40,560 shares of the financial services provider’s stock after selling 1,426 shares during the quarter. Zions Bancorporation N.A.’s holdings in The PNC Financial Services Group were worth $7,822,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Loomis Sayles & Co. L P boosted its holdings in The PNC Financial Services Group by 8.7% in the third quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock worth $115,000 after acquiring an additional 50 shares in the last quarter. Baltimore Washington Financial Advisors Inc. increased 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 valued at $324,000 after acquiring an additional 51 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in The PNC Financial Services Group by 2.4% in the 4th 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 grew its position in The PNC Financial Services Group by 1.8% during the 4th quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider’s stock valued at $616,000 after purchasing an additional 55 shares during the last quarter. Finally, Valmark Advisers Inc. increased its stake in The PNC Financial Services Group by 1.4% during the 4th quarter. Valmark Advisers Inc. now owns 4,010 shares of the financial services provider’s stock valued at $773,000 after purchasing an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Citigroup dropped their target price on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday. Piper Sandler increased their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Truist Financial boosted their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. The Goldman Sachs Group lowered their target price on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. Finally, Compass Point lifted their price target on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $201.65.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $202.11, for a total transaction of $251,020.62. Following the sale, the chief executive officer now directly owns 522,587 shares of the company’s stock, valued at $105,620,058.57. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 13,662 shares of company stock worth $2,582,789. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group Price Performance

NYSE PNC opened at $176.56 on Tuesday. The business’s fifty day moving average is $189.70 and its 200 day moving average is $192.31. The PNC Financial Services Group, Inc. has a fifty-two week low of $143.52 and a fifty-two week high of $216.26. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $69.88 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The firm 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 business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.16 EPS. Sell-side analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.62%. The PNC Financial Services Group’s payout ratio is 46.55%.

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 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.