Zurcher Kantonalbank Zurich Cantonalbank Has $32.97 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 21.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 170,963 shares of the financial services provider's stock after selling 46,635 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in The PNC Financial Services Group were worth $32,970,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of PNC. Loomis Sayles & Co. L P boosted its holdings in shares of 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 valued at $115,000 after acquiring an additional 50 shares in the last quarter. Baltimore Washington Financial Advisors Inc. boosted its holdings in shares of The PNC Financial Services Group by 3.1% in 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 holdings in shares of The PNC Financial Services Group by 2.4% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider's stock valued at $434,000 after acquiring an additional 53 shares in the last quarter. Transcend Capital Advisors LLC boosted its holdings in shares of The PNC Financial Services Group by 1.8% in the fourth quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider's stock valued at $616,000 after acquiring an additional 55 shares in the last quarter. Finally, Altman Advisors Inc. boosted its holdings in shares of The PNC Financial Services Group by 0.5% in the third quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider's stock valued at $1,942,000 after acquiring an additional 56 shares in the last quarter. Institutional investors own 83.53% of the company's stock.

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The PNC Financial Services Group Stock Down 1.4 %

Shares of NYSE:PNC traded down $2.38 during trading on Thursday, reaching $168.63. 2,054,120 shares of the company traded hands, compared to its average volume of 2,170,196. The firm has a fifty day simple moving average of $192.50 and a 200 day simple moving average of $192.58. The firm has a market cap of $66.74 billion, a P/E ratio of 12.26, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 1-year low of $143.52 and a 1-year 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 PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.26 by $0.51. The company had revenue of $5.57 billion during the quarter, compared to analyst estimates 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 company's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $3.16 EPS. Analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 46.55%.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, December 13th. The shares were sold at an average price of $203.06, for a total transaction of $252,200.52. Following the completion of the sale, the chief executive officer now owns 531,281 shares of the company's stock, valued at $107,881,919.86. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold 13,662 shares of company stock valued at $2,643,895 in the last quarter. Company insiders own 0.42% of the company's stock.

Analyst Ratings Changes

PNC has been the subject of several recent analyst reports. Morgan Stanley increased their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an "underweight" rating in a report on Friday, January 17th. 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 report on Friday, January 17th. 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 report on Tuesday, December 10th. Piper Sandler lifted their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 3rd. Finally, Stephens restated an "equal weight" rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $205.00.

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.