Danske Bank A S Buys New Shares in The PNC Financial Services Group, Inc $PNC

Danske Bank A S acquired a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 250,487 shares of the financial services provider’s stock, valued at approximately $50,330,000. Danske Bank A S owned approximately 0.06% of The PNC Financial Services Group as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at approximately $25,000. Westfuller Advisors LLC acquired a new position in shares of The PNC Financial Services Group during the third quarter worth $34,000. JPL Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group during the third quarter worth $37,000. Financial Life Planners acquired a new stake in The PNC Financial Services Group in the third quarter valued at $39,000. Finally, Palisade Asset Management LLC acquired a new stake in The PNC Financial Services Group in the third quarter valued at $42,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PNC shares. Oppenheimer upped their price target on The PNC Financial Services Group from $268.00 to $284.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Keefe, Bruyette & Woods boosted their price objective on shares of The PNC Financial Services Group from $228.00 to $247.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 20th. Truist Financial upped their target price on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a report on Thursday, December 18th. Royal Bank Of Canada increased their target price 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. Finally, TD Cowen lifted 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 research note on Tuesday, January 20th. Fifteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.44.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 50,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $230.88, for a total value of $11,544,000.00. Following the transaction, the chief executive officer directly owned 554,274 shares in the company, valued at approximately $127,970,781.12. This trade represents a 8.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Alexander E. C. Overstrom sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $233.91, for a total value of $584,775.00. Following the sale, the executive vice president owned 21,120 shares of the company’s stock, valued at $4,940,179.20. This trade represents a 10.58% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 64,186 shares of company stock worth $14,840,973. Insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Stock Down 1.5%

Shares of NYSE:PNC opened at $200.76 on Thursday. The PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-year high of $243.94. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market cap of $80.98 billion, a P/E ratio of 12.10, a P/E/G ratio of 0.91 and a beta of 0.98. The firm has a fifty day moving average price of $220.65 and a 200 day moving average price of $205.19.

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

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.4%. The ex-dividend date was Tuesday, January 20th. The PNC Financial Services Group’s payout ratio is 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.