5 Stocks That Have Grabbed Stanley Druckenmiller’s Attention in 2022

4. The PNC Financial Services Group Inc. (NYSE:PNC)

Value of Duquesne Capital’s 13F Position: $31.1 million

Number of Hedge Fund Shareholders (as of March 31): 49

The PNC Financial Services Group Inc. (NYSE:PNC) is the only non-energy stock to feature among Druckenmiller’s five biggest buys of the quarter. Druckenmiller’s fund built a new position of 168,726 PNC shares during the quarter, making it the fund’s 16^th-largest long position. Fellow billionaire Steve Cohen also added PNC to his hedge fund’s 13F portfolio during Q1.

The PNC Financial Services Group Inc. (NYSE:PNC) missed revenue estimates in Q1, pulling in $4.69 billion against expectations of $4.76 billion. The investment bank’s adjusted EPS topped estimates by $0.56 however, coming in at $3.29, thanks in part to greatly limiting noninterest expenses. PNC’s loans increased by 1% quarter-over-quarter during the period, while investment securities grew by 5%.

The PNC Financial Services Group Inc. (NYSE:PNC) was so confident in its quarterly performance that it made a substantial 20% raise to its dividend payments, which now pay out $1.50 quarterly and yield over 3%. The company also bought back $1.2 billion worth of its shares during the first quarter.