V Square Quantitative Management LLC Buys 1,604 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

V Square Quantitative Management LLC grew its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNCFree Report) by 23.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,483 shares of the financial services provider’s stock after acquiring an additional 1,604 shares during the period. V Square Quantitative Management LLC’s holdings in The PNC Financial Services Group were worth $1,371,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. OFI Invest Asset Management bought a new stake in The PNC Financial Services Group in the 3rd quarter valued at $25,000. BKM Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at about $26,000. Tennessee Valley Asset Management Partners acquired a new position in shares of The PNC Financial Services Group in the fourth quarter valued at about $26,000. Fortitude Family Office LLC bought a new position in The PNC Financial Services Group during the fourth quarter worth about $28,000. Finally, Householder Group Estate & Retirement Specialist LLC raised its stake in The PNC Financial Services Group by 350.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total transaction of $132,489.50. Following the transaction, the executive vice president now owns 3,502 shares in the company, valued at approximately $545,856.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Trading Up 0.9 %

Shares of NYSE:PNC traded up $1.43 during midday trading on Tuesday, hitting $158.57. 1,167,970 shares of the stock traded hands, compared to its average volume of 1,969,184. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $63.10 billion, a PE ratio of 13.31, a P/E/G ratio of 1.81 and a beta of 1.16. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $162.24. The business’s 50 day moving average is $155.68 and its two-hundred day moving average is $148.53.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.01. The business had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The firm’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.98 earnings per share. As a group, research analysts forecast that The PNC Financial Services Group, Inc. will post 12.62 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Monday, April 15th were given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.91%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio is currently 52.06%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $152.00 price target on shares of The PNC Financial Services Group in a research note on Wednesday, April 17th. The Goldman Sachs Group boosted their price objective on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. Jefferies Financial Group reduced their price objective on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a research note on Wednesday, April 17th. JPMorgan Chase & Co. lowered their price objective on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Finally, Wells Fargo & Company raised their target price on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus target price of $157.02.

Check Out Our Latest Research Report on PNC

The PNC Financial Services Group Profile

(Free Report)

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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