PNC Financial Services Group Inc (PNC) Holdings Lifted by Tradition Capital Management LLC

Tradition Capital Management LLC boosted its holdings in PNC Financial Services Group Inc (NYSE:PNC) by 6.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 32,105 shares of the financial services provider’s stock after purchasing an additional 1,979 shares during the quarter. Tradition Capital Management LLC’s holdings in PNC Financial Services Group were worth $3,937,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in PNC Financial Services Group in the first quarter worth $25,000. Field & Main Bank bought a new stake in PNC Financial Services Group in the first quarter worth $25,000. Executive Wealth Management LLC bought a new stake in PNC Financial Services Group in the fourth quarter worth $29,000. Transamerica Financial Advisors Inc. bought a new stake in PNC Financial Services Group in the fourth quarter worth $36,000. Finally, Athena Capital Advisors LLC bought a new stake in PNC Financial Services Group in the fourth quarter worth $37,000. Institutional investors and hedge funds own 82.67% of the company’s stock.

PNC stock traded up $2.58 during midday trading on Thursday, reaching $131.26. The company’s stock had a trading volume of 38,981 shares, compared to its average volume of 2,248,804. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.23. PNC Financial Services Group Inc has a 1 year low of $108.45 and a 1 year high of $152.25. The firm has a market cap of $58.36 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 1.49 and a beta of 1.09.



PNC Financial Services Group (NYSE:PNC) last released its earnings results on Friday, April 12th. The financial services provider reported $2.61 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.61. PNC Financial Services Group had a return on equity of 11.20% and a net margin of 25.93%. The business had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter last year, the firm posted $2.43 earnings per share. Research analysts expect that PNC Financial Services Group Inc will post 11.35 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Tuesday, April 16th were paid a $0.95 dividend. The ex-dividend date of this dividend was Monday, April 15th. This represents a $3.80 dividend on an annualized basis and a yield of 2.90%. PNC Financial Services Group’s payout ratio is 35.48%.

In other PNC Financial Services Group news, Director Martin Pfinsgraff bought 500 shares of PNC Financial Services Group stock in a transaction on Thursday, February 21st. The shares were acquired at an average price of $125.69 per share, for a total transaction of $62,845.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph E. Rockey sold 6,000 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $135.00, for a total value of $810,000.00. Following the completion of the sale, the insider now owns 24,747 shares in the company, valued at approximately $3,340,845. The disclosure for this sale can be found here. Company insiders own 0.37% of the company’s stock.

A number of analysts recently issued reports on the company. ValuEngine upgraded PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Thursday, April 18th. Zacks Investment Research upgraded PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Tuesday, March 26th. UBS Group set a $133.00 price target on PNC Financial Services Group and gave the stock a “hold” rating in a research report on Tuesday, April 2nd. Morgan Stanley raised their price target on PNC Financial Services Group from $138.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Finally, Barclays raised their price target on PNC Financial Services Group from $156.00 to $157.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $143.63.

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

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