Versant Capital Management Inc Purchases 219 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Versant Capital Management Inc increased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 86.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 473 shares of the financial services provider’s stock after purchasing an additional 219 shares during the quarter. Versant Capital Management Inc’s holdings in The PNC Financial Services Group were worth $91,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Concurrent Investment Advisors LLC lifted its holdings in shares of The PNC Financial Services Group by 45.6% during the third quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock worth $1,185,000 after buying an additional 2,009 shares in the last quarter. BSN CAPITAL PARTNERS Ltd acquired a new position in shares of The PNC Financial Services Group during the 3rd quarter worth approximately $12,548,000. Bleakley Financial Group LLC increased its holdings in shares of The PNC Financial Services Group by 9.0% during the third quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock worth $2,913,000 after purchasing an additional 1,299 shares during the period. Deerfield Management Company L.P. Series C acquired a new stake in shares of The PNC Financial Services Group in the second quarter valued at approximately $822,000. Finally, Aljian Capital Management LLC bought a new stake in shares of The PNC Financial Services Group in the third quarter valued at approximately $839,000. 83.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the sale, the director now owns 915 shares in the company, valued at approximately $170,299.80. The trade was a 48.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $190.57, for a total value of $236,687.94. Following the transaction, the chief executive officer now owns 546,007 shares of the company’s stock, valued at $104,052,553.99. This trade represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,030 shares of company stock valued at $5,916,453 over the last 90 days. 0.42% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Citigroup lifted their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, November 25th. Evercore ISI boosted their price target on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Piper Sandler increased their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods boosted their target price on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research report on Wednesday, October 16th. Finally, Compass Point increased 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 report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $200.81.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $195.63 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The stock has a market cap of $77.62 billion, a PE ratio of 16.54, a PEG ratio of 2.11 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 12-month low of $139.69 and a 12-month high of $216.26. The business has a 50-day simple moving average of $200.97 and a two-hundred day simple moving average of $184.15.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the prior year, the firm posted $3.60 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. Analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.27%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

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.