Moors & Cabot Inc. Buys 6,030 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Moors & Cabot Inc. boosted its stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 38.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,656 shares of the financial services provider's stock after purchasing an additional 6,030 shares during the period. Moors & Cabot Inc.'s holdings in The PNC Financial Services Group were worth $4,176,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of The PNC Financial Services Group by 0.6% during the 3rd quarter. State Street Corp now owns 17,299,381 shares of the financial services provider's stock worth $3,197,791,000 after acquiring an additional 100,573 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of The PNC Financial Services Group by 1.2% during the 3rd quarter. Franklin Resources Inc. now owns 10,286,202 shares of the financial services provider's stock worth $1,939,154,000 after acquiring an additional 123,994 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of The PNC Financial Services Group by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider's stock worth $1,541,155,000 after acquiring an additional 166,138 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of The PNC Financial Services Group by 22.5% during the 4th quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider's stock worth $746,435,000 after acquiring an additional 710,311 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of The PNC Financial Services Group by 1.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,950,394 shares of the financial services provider's stock worth $545,380,000 after acquiring an additional 42,887 shares during the last quarter. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $170.15 on Wednesday. The company's 50-day moving average price is $193.39 and its 200-day moving average price is $192.90. 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 company has a market cap of $67.34 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13.

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The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping analysts' consensus estimates of $3.26 by $0.51. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. 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 posted $3.16 EPS. On average, equities research analysts forecast 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 issued a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.76%. The PNC Financial Services Group's payout ratio is 46.55%.

Wall Street Analysts Forecast Growth

PNC has been the topic of several analyst reports. Truist Financial lifted their price target on shares of 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. Piper Sandler lifted their target price on shares of 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. Stephens restated an "equal weight" rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Wells Fargo & Company lifted their target price on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Finally, Compass Point lifted their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a "neutral" rating in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of "Hold" and a consensus target price of $205.00.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $203.06, for a total transaction of $252,200.52. Following the transaction, the chief executive officer now directly owns 531,281 shares in the company, valued at approximately $107,881,919.86. This represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 13,662 shares of company stock worth $2,643,895. Insiders own 0.42% of the company's stock.

The PNC Financial Services Group Company 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.

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