JB Capital LLC Increases Stake in The PNC Financial Services Group

JB Capital LLC has increased its investment in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.0% during the fourth quarter, as indicated in their latest filing with the Securities and Exchange Commission (SEC). Following this increase, the firm now holds 77,371 shares of the financial services company after acquiring an additional 1,492 shares in the quarter. The PNC Financial Services Group represents approximately 0.8% of JB Capital LLC's investment portfolio, positioning it as their 21st largest holding. As of the end of the latest quarter, JB Capital LLC's stake in The PNC Financial Services Group was valued at $14,921,000.

Recent Changes in Institutional Holdings

Other institutional investors have also recently adjusted their stakes in PNC. Winch Advisory Services LLC purchased a new investment in The PNC Financial Services Group valued at $25,000 during the fourth quarter. Richardson Financial Services Inc. significantly increased its stake by 2,333.3%, now owning 146 shares valued at $28,000 after acquiring 140 additional shares. Albion Financial Group UT also entered a new position, worth $30,000. Synergy Asset Management LLC made a similar move with a new investment valued at $32,000. Moreover, Valley Wealth Managers Inc. raised its stake dramatically by 20,000.0%, owning 201 shares valued at $37,000 after increasing their holdings by 200 shares. Institutional investors own 83.53% of the company's stock.

Current Stock Performance of PNC

The stock of The PNC Financial Services Group opened at $200.63 on a recent Monday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81, and a current ratio of 0.81. The market capitalization stands at $79.60 billion, accompanied by a price-to-earnings (PE) ratio of 14.59 and a price-to-earnings-growth (PEG) ratio of 1.63. Over the last year, the stock has fluctuated between a low of $139.69 and a high of $216.26. Its 50-day simple moving average sits at $199.85, and the 200-day simple moving average is at $189.75.

Earnings Report and Revenue Insights

The PNC Financial Services Group last reported its earnings on Thursday, January 16th. The company reported earnings per share of $3.77, surpassing analysts' expectations of $3.26 by $0.51. The total revenue for the quarter was $5.57 billion, slightly above the anticipated $5.51 billion. With a net margin of 17.10% and a return on equity of 11.12%, the company's quarterly revenue demonstrated a year-over-year increase of 3.8%, up from $3.16 earnings per share in the same quarter last year. Analysts predict an average of 15.26 EPS for the current fiscal year.

Dividend Announcement

The PNC Financial Services Group has also announced a quarterly dividend, set to be paid on Wednesday, February 5th. Shareholders of record as of January 15th will receive a dividend of $1.60 per share, equating to an annualized dividend of $6.40 and a dividend yield of 3.19%. The ex-dividend date is January 15th, and the company's dividend payout ratio currently stands at 46.55%.

Wall Street Projections

Several analysts have provided their outlook on PNC shares. Morgan Stanley raised their price target from $199.00 to $208.00, rating the stock as "underweight." Evercore ISI increased their target from $212.00 to $225.00, giving it an "outperform" rating. Additionally, Keefe, Bruyette & Woods adjusted their target price from $180.00 to $182.00, rating it as "underperform." Compass Point set their price objective at $233.00, marking it as a "neutral" rating. The Goldman Sachs Group lifted their target from $190.00 to $210.00, also rating the stock as "neutral." The consensus includes two sell ratings, eight hold ratings, and eight buy ratings for the stock, with an average target price set at $205.00 according to MarketBeat data.

Insider Transactions

In related developments, Director Andrew T. Feldstein recently sold 14,509 shares, fetching an average price of $210.09, resulting in a total transaction value of $3,048,195.81. After this sale, he retains 38,649 shares worth $8,119,768.41, reflecting a 27.29% decrease in his holdings. Furthermore, CEO William S. Demchak sold 1,242 shares at an average price of $196.17, totaling $243,643.14. He currently holds 523,829 shares, valued at $102,759,534.93, a slight reduction of 0.24% in his ownership. Over the past ninety days, insiders have collectively sold 28,171 shares worth $5,786,210. Currently, corporate insiders own 0.42% of the stock.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States, functioning through three main segments: Retail Banking, Corporate & Institutional Banking, and Asset Management. Its Retail Banking segment provides various financial services, including checking and savings accounts, mortgages, auto loans, credit cards, and wealth management solutions.

Investment, Stock, Earnings