Optimize Financial Inc Makes New $444,000 Investment in The PNC Financial Services Group, Inc $PNC

Optimize Financial Inc purchased a new stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,209 shares of the financial services provider’s stock, valued at approximately $444,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. IMG Wealth Management Inc. purchased a new position in The PNC Financial Services Group in the second quarter worth $27,000. Concord Wealth Partners lifted its holdings in shares of The PNC Financial Services Group by 144.9% during the 2nd quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. Westfuller Advisors LLC acquired a new stake in shares of The PNC Financial Services Group in the 3rd quarter worth $34,000. FNY Investment Advisers LLC acquired a new stake in shares of The PNC Financial Services Group in the 2nd quarter worth $37,000. Finally, Bayforest Capital Ltd grew its stake in The PNC Financial Services Group by 237.1% during the 3rd quarter. Bayforest Capital Ltd now owns 209 shares of the financial services provider’s stock worth $42,000 after buying an additional 147 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Truist Financial increased their price target on The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a research note on Thursday, December 18th. Royal Bank Of Canada increased their price objective on shares of The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. Weiss Ratings reissued a “buy (b)” rating on shares of The PNC Financial Services Group in a research report on Monday, December 22nd. Wells Fargo & Company upped their price target on shares of The PNC Financial Services Group from $252.00 to $264.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Finally, TD Cowen raised their price target on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and an average target price of $231.00.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $237.25 on Thursday. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $240.37. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.94. The company has a market cap of $93.04 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 0.98 and a beta of 0.99. The company’s 50 day moving average is $212.93 and its 200 day moving average is $199.92.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, beating the consensus estimate of $4.23 by $0.65. The business had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $5.90 billion. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business posted $3.77 EPS. On average, sell-side analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th will be given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 40.99%.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.