MCF Advisors LLC increased its stake in PNC Financial Services Group Inc (NYSE:PNC) by 55.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,847 shares of the financial services provider’s stock after purchasing an additional 1,012 shares during the period. MCF Advisors LLC’s holdings in PNC Financial Services Group were worth $391,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. Field & Main Bank acquired a new stake in PNC Financial Services Group during the 1st quarter worth $25,000. IMA Wealth Inc. acquired a new stake in PNC Financial Services Group during the 1st quarter worth $25,000. Penserra Capital Management LLC acquired a new stake in PNC Financial Services Group during the 1st quarter worth $25,000. Westside Investment Management Inc. acquired a new stake in PNC Financial Services Group during the 2nd quarter worth $29,000. Finally, Meridian Wealth Management LLC acquired a new stake in PNC Financial Services Group during the 1st quarter worth $33,000. Hedge funds and other institutional investors own 81.83% of the company’s stock.
Several equities analysts have recently issued reports on PNC shares. Morgan Stanley set a $141.00 price target on shares of PNC Financial Services Group and gave the company a “hold” rating in a report on Friday, August 9th. ValuEngine lowered shares of PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. boosted their price target on shares of PNC Financial Services Group from $137.50 to $142.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $143.41.
Shares of PNC stock traded up $1.04 on Thursday, hitting $127.04. The stock had a trading volume of 31,051 shares, compared to its average volume of 2,154,953. PNC Financial Services Group Inc has a twelve month low of $108.45 and a twelve month high of $147.00. The firm has a market cap of $57.15 billion, a P/E ratio of 11.84, a PEG ratio of 1.67 and a beta of 1.07. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. The company has a fifty day moving average price of $136.83 and a two-hundred day moving average price of $131.31.
PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $2.88 EPS for the quarter, beating the consensus estimate of $2.83 by $0.05. The business had revenue of $4.44 billion for the quarter, compared to analysts’ expectations of $4.40 billion. PNC Financial Services Group had a net margin of 25.46% and a return on equity of 11.10%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.72 EPS. On average, analysts expect that PNC Financial Services Group Inc will post 11.28 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Friday, July 19th were given a $1.15 dividend. This is a boost from PNC Financial Services Group’s previous quarterly dividend of $0.95. This represents a $4.60 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend was Thursday, July 18th. PNC Financial Services Group’s payout ratio is currently 42.95%.
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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