Cibc World Market Inc. Has $11.69 Million Stock Position in The PNC Financial Services Group, Inc $PNC

Cibc World Market Inc. lifted its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 19.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 58,187 shares of the financial services provider’s stock after purchasing an additional 9,602 shares during the quarter. Cibc World Market Inc.’s holdings in The PNC Financial Services Group were worth $11,692,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in The PNC Financial Services Group by 12.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,835 shares of the financial services provider’s stock valued at $11,621,000 after purchasing an additional 6,572 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of The PNC Financial Services Group by 1.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,837,301 shares of the financial services provider’s stock worth $369,169,000 after buying an additional 22,325 shares in the last quarter. Savant Capital LLC lifted its position in shares of The PNC Financial Services Group by 8.7% during the 3rd quarter. Savant Capital LLC now owns 87,952 shares of the financial services provider’s stock worth $17,672,000 after buying an additional 7,064 shares during the period. National Pension Service lifted its position in shares of The PNC Financial Services Group by 2.5% during the 3rd quarter. National Pension Service now owns 1,070,589 shares of the financial services provider’s stock worth $215,113,000 after buying an additional 26,305 shares during the period. Finally, First Horizon Corp acquired a new stake in The PNC Financial Services Group in the 3rd quarter valued at $8,360,000. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Down 2.5%

Shares of NYSE:PNC opened at $229.65 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.94. The firm has a market cap of $90.06 billion, a P/E ratio of 13.84, a P/E/G ratio of 0.98 and a beta of 0.99. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $243.94. The company’s 50-day moving average price is $218.21 and its two-hundred day moving average price is $201.62.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $5.90 billion. During the same period in the previous year, the firm posted $3.77 earnings per share. The company’s revenue was up 9.1% on a year-over-year basis. As a group, 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th were given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 40.99%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Royal Bank Of Canada increased their price objective on The PNC Financial Services Group from $222.00 to $235.00 and gave the stock an “outperform” rating in a research note 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 stock a “hold” rating in a report on Thursday, December 18th. TD Cowen lifted their price target on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Cfra Research upgraded shares of The PNC Financial Services Group to a “moderate buy” rating in a research report on Thursday, October 16th. Finally, Keefe, Bruyette & Woods upped 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 note on Tuesday, January 20th. Fifteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $234.44.

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.