The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by Breakwater Capital Group

Breakwater Capital Group boosted its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.3% in the first quarter, Holdings Channel reports. The fund owned 3,963 shares of the financial services provider’s stock after buying an additional 162 shares during the quarter. Breakwater Capital Group’s holdings in The PNC Financial Services Group were worth $640,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in PNC. Stephens Consulting LLC purchased a new stake in The PNC Financial Services Group during the 1st quarter worth $48,000. Founders Financial Securities LLC increased its position in shares of The PNC Financial Services Group by 1.1% during the first quarter. Founders Financial Securities LLC now owns 12,299 shares of the financial services provider’s stock worth $1,988,000 after acquiring an additional 132 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its stake in shares of The PNC Financial Services Group by 9.9% in the first quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 2,233 shares of the financial services provider’s stock worth $361,000 after acquiring an additional 201 shares in the last quarter. Home Federal Bank of Tennessee purchased a new position in The PNC Financial Services Group in the first quarter valued at about $208,000. Finally, Vicus Capital acquired a new stake in The PNC Financial Services Group during the 1st quarter valued at approximately $300,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Richard Kevin Bynum sold 850 shares of the business’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 completion of the transaction, the executive vice president now directly owns 3,502 shares in the company, valued at $545,856.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $153.19, for a total transaction of $98,194.79. Following the transaction, the chief executive officer now directly owns 568,323 shares of the company’s stock, valued at $87,061,400.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Richard Kevin Bynum sold 850 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the transaction, the executive vice president now owns 3,502 shares of the company’s stock, valued at approximately $545,856.74. The disclosure for this sale can be found here. 0.42% of the stock is owned by company insiders.

Analyst Ratings Changes

PNC has been the topic of a number of recent analyst reports. StockNews.com raised The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Bank of America increased their price objective on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. Evercore ISI boosted their target price on shares of The PNC Financial Services Group from $180.00 to $184.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 25th. JPMorgan Chase & Co. reduced their price target on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Finally, Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $152.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $158.43.

The PNC Financial Services Group Trading Up 2.3 %

Shares of NYSE PNC opened at $155.48 on Monday. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $162.24. The company has a market cap of $61.87 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 2.22 and a beta of 1.15. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42. The stock’s 50 day simple moving average is $155.18 and its 200 day simple moving average is $152.96.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The company had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same period last year, the business posted $3.98 earnings per share. The firm’s quarterly revenue was down 8.2% compared to the same quarter last year. Equities research analysts expect that The PNC Financial Services Group, Inc. will post 12.63 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 52.06%.

The PNC Financial Services Group Company 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.