Duality Advisers LP purchased a new stake in PNC Financial Services Group Inc (NYSE:PNC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 16,221 shares of the financial services provider’s stock, valued at approximately $1,707,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of PNC. Trustcore Financial Services LLC raised its holdings in PNC Financial Services Group by 79.1% in the 2nd quarter. Trustcore Financial Services LLC now owns 274 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 121 shares during the period. Golden State Wealth Management LLC bought a new position in shares of PNC Financial Services Group in the first quarter worth about $30,000. West Oak Capital LLC lifted its position in shares of PNC Financial Services Group by 198.0% during the 2nd quarter. West Oak Capital LLC now owns 301 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 200 shares during the last quarter. Creative Financial Designs Inc. ADV acquired a new position in shares of PNC Financial Services Group during the 2nd quarter worth about $38,000. Finally, Tarbox Family Office Inc. boosted its stake in PNC Financial Services Group by 73.5% during the 2nd quarter. Tarbox Family Office Inc. now owns 366 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 155 shares during the period. 80.49% of the stock is owned by institutional investors and hedge funds.
In other news, Director Richard J. Harshman bought 1,000 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was bought at an average price of $97.55 per share, for a total transaction of $97,550.00. Following the completion of the purchase, the director now owns 1,150 shares of the company’s stock, valued at approximately $112,182.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.30% of the company’s stock.
A number of brokerages have recently commented on PNC. Wells Fargo & Co upped their price target on PNC Financial Services Group from $121.00 to $148.00 in a report on Friday, June 5th. Wolfe Research started coverage on shares of PNC Financial Services Group in a research note on Friday. They set an “underperform” rating for the company. Compass Point raised their price target on shares of PNC Financial Services Group from $104.00 to $109.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 13th. Bank of America dropped their price objective on shares of PNC Financial Services Group from $138.00 to $123.00 and set a “buy” rating on the stock in a report on Friday, July 10th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $120.00 target price on shares of PNC Financial Services Group in a research note on Wednesday, April 8th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $124.21.
Shares of NYSE:PNC opened at $106.67 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.88 and a quick ratio of 0.87. The business’s fifty day moving average price is $105.18 and its two-hundred day moving average price is $116.06. PNC Financial Services Group Inc has a fifty-two week low of $79.41 and a fifty-two week high of $161.79. The stock has a market capitalization of $45.26 billion, a price-to-earnings ratio of 17.90, a price-to-earnings-growth ratio of 4.15 and a beta of 1.29.
PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Wednesday, July 15th. The financial services provider reported ($1.90) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($2.78). The firm had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.08 billion. PNC Financial Services Group had a net margin of 35.52% and a return on equity of 5.78%. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.88 EPS. Research analysts expect that PNC Financial Services Group Inc will post 3.67 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Shareholders of record on Friday, July 17th will be paid a dividend of $1.15 per share. The ex-dividend date is Thursday, July 16th. This represents a $4.60 annualized dividend and a yield of 4.31%. PNC Financial Services Group’s dividend payout ratio is 40.39%.
PNC Financial Services Group Profile
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.
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