Wesbanco Bank Inc. Buys 226 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Wesbanco Bank Inc. increased its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.4% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 58,965 shares of the financial services provider’s stock after acquiring an additional 226 shares during the period. Wesbanco Bank Inc.’s holdings in The PNC Financial Services Group were worth $10,364,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rialto Wealth Management LLC bought a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $32,000. Whipplewood Advisors LLC bought a new position in The PNC Financial Services Group in the 4th quarter valued at $33,000. REAP Financial Group LLC raised its position in The PNC Financial Services Group by 67.2% in the 4th quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 80 shares during the last quarter. Hoey Investments Inc. bought a new position in The PNC Financial Services Group in the 4th quarter valued at $39,000. Finally, True Wealth Design LLC raised its position in The PNC Financial Services Group by 41.5% in the 4th quarter. True Wealth Design LLC now owns 201 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 59 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 2.3%

NYSE PNC opened at $178.72 on Monday. The stock has a 50-day simple moving average of $165.16 and a 200 day simple moving average of $183.26. The company has a market capitalization of $70.70 billion, a PE ratio of 13.00, a P/E/G ratio of 1.55 and a beta of 1.06. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a 12 month low of $145.12 and a 12 month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. Research analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were issued a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.58%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 45.20%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PNC shares. Royal Bank of Canada cut their price objective on The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating for the company in a research report on Wednesday, April 16th. HSBC upgraded The PNC Financial Services Group from a “hold” rating to a “buy” rating and dropped their target price for the stock from $206.00 to $202.00 in a research report on Monday, March 31st. Morgan Stanley dropped their target price on The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating for the company in a research report on Wednesday, April 16th. Hsbc Global Res upgraded The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 31st. Finally, Wells Fargo & Company dropped their target price on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $202.67.

Insiders Place Their Bets

In other news, Director Martin Pfinsgraff acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, April 25th. The stock was acquired at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the completion of the acquisition, the director now owns 2,009 shares in the company, valued at $317,863.98. This represents a 99.11% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kieran John Fallon sold 1,492 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $174.56, for a total value of $260,443.52. Following the transaction, the executive vice president now owns 20,490 shares of the company’s stock, valued at approximately $3,576,734.40. The trade was a 6.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,154 shares of company stock worth $2,525,591 over the last ninety days. 0.41% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Profile

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.