Lombard Odier Asset Management Switzerland SA Buys 13,812 Shares of The PNC Financial Services Group, Inc $PNC

Lombard Odier Asset Management Switzerland SA raised its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 51.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,828 shares of the financial services provider’s stock after acquiring an additional 13,812 shares during the period. Lombard Odier Asset Management Switzerland SA’s holdings in The PNC Financial Services Group were worth $8,496,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Cvfg LLC raised its position in The PNC Financial Services Group by 2.5% during the fourth quarter. Cvfg LLC now owns 1,753 shares of the financial services provider’s stock valued at $366,000 after purchasing an additional 43 shares in the last quarter. YANKCOM Partnership raised its holdings in shares of The PNC Financial Services Group by 1.8% during the 4th quarter. YANKCOM Partnership now owns 2,583 shares of the financial services provider’s stock worth $539,000 after buying an additional 46 shares in the last quarter. Westfuller Advisors LLC lifted its position in shares of The PNC Financial Services Group by 26.9% during the 4th quarter. Westfuller Advisors LLC now owns 217 shares of the financial services provider’s stock worth $45,000 after buying an additional 46 shares during the last quarter. Baron Wealth Management LLC boosted its stake in The PNC Financial Services Group by 3.0% in the first quarter. Baron Wealth Management LLC now owns 1,562 shares of the financial services provider’s stock valued at $325,000 after buying an additional 46 shares in the last quarter. Finally, Atom Investors LP grew its position in The PNC Financial Services Group by 1.8% in the fourth quarter. Atom Investors LP now owns 2,534 shares of the financial services provider’s stock valued at $529,000 after acquiring an additional 46 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PNC shares. Bank of America raised their price target on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Barclays raised their target price on shares of The PNC Financial Services Group from $277.00 to $284.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft downgraded shares of The PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $265.00 price target for the company. in a report on Thursday. Weiss Ratings reissued a “buy (b)” rating on shares of The PNC Financial Services Group in a report on Wednesday, July 15th. Finally, Truist Financial lifted their target price on shares of The PNC Financial Services Group from $257.00 to $264.00 and gave the stock a “hold” rating in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and an average target price of $265.48.

The PNC Financial Services Group Stock Up 0.5%

Shares of The PNC Financial Services Group stock opened at $250.59 on Friday. The stock’s 50-day moving average is $236.91 and its 200 day moving average is $224.87. The PNC Financial Services Group, Inc has a one year low of $176.88 and a one year high of $256.49. The firm has a market cap of $100.63 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 1.00 and a beta of 0.91. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.85 and a quick ratio of 0.84.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.46 by $0.39. The firm had revenue of $6.66 billion for the quarter, compared to analyst estimates of $6.51 billion. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The company’s revenue was up 21.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.85 earnings per share. Equities research analysts anticipate that The PNC Financial Services Group, Inc will post 19.25 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Monday, July 20th will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Monday, July 20th. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The PNC Financial Services Group’s dividend payout ratio is presently 44.03%.

Insider Buying and Selling

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 45,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total value of $9,925,650.00. Following the completion of the sale, the director directly owned 10,749 shares in the company, valued at approximately $2,370,906.93. This trade represents a 80.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Duane Thomas sold 1,500 shares of The PNC Financial Services Group stock in a transaction on Friday, June 12th. The shares were sold at an average price of $238.14, for a total transaction of $357,210.00. Following the completion of the sale, the executive vice president directly owned 5,059 shares of the company’s stock, valued at approximately $1,204,750.26. This trade represents a 22.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 48,300 shares of company stock valued at $10,694,574 over the last ninety days. 0.38% of the stock is owned by corporate insiders.

The PNC Financial Services Group Company 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.