Regent Investment Management LLC Trims Holdings in PNC Financial Services Group Inc (NYSE:PNC)

Regent Investment Management LLC reduced its stake in shares of PNC Financial Services Group Inc (NYSE:PNC) by 2.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,225 shares of the financial services provider’s stock after selling 100 shares during the period. Regent Investment Management LLC’s holdings in PNC Financial Services Group were worth $444,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Sciencast Management LP lifted its holdings in shares of PNC Financial Services Group by 154.4% during the 2nd quarter. Sciencast Management LP now owns 8,400 shares of the financial services provider’s stock worth $848,000 after acquiring an additional 5,098 shares during the period. Pacer Advisors Inc. purchased a new position in shares of PNC Financial Services Group during the 2nd quarter worth about $3,741,000. GWM Advisors LLC lifted its holdings in shares of PNC Financial Services Group by 17.0% during the 2nd quarter. GWM Advisors LLC now owns 172,060 shares of the financial services provider’s stock worth $18,102,000 after acquiring an additional 24,988 shares during the period. Cornerstone Advisors Inc. lifted its holdings in shares of PNC Financial Services Group by 22.1% during the 2nd quarter. Cornerstone Advisors Inc. now owns 3,524 shares of the financial services provider’s stock worth $371,000 after acquiring an additional 637 shares during the period. Finally, Trustcore Financial Services LLC lifted its holdings in shares of PNC Financial Services Group by 79.1% during the 2nd quarter. Trustcore Financial Services LLC now owns 274 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 121 shares during the period. Institutional investors and hedge funds own 80.49% of the company’s stock.

Shares of PNC opened at $106.67 on Friday. The business’s fifty day moving average price is $105.18 and its 200 day moving average price is $116.06. PNC Financial Services Group Inc has a 12-month low of $79.41 and a 12-month high of $161.79. The stock has a market capitalization of $45.09 billion, a PE ratio of 6.56, a price-to-earnings-growth ratio of 4.14 and a beta of 1.29. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.88 and a quick ratio of 0.87.

PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, July 15th. The financial services provider reported ($1.90) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($2.78). PNC Financial Services Group had a return on equity of 5.78% and a net margin of 35.52%. The firm had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter last year, the business earned $2.88 earnings per share. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. As a group, research analysts anticipate that PNC Financial Services Group Inc will post 3.67 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Friday, July 17th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend is Thursday, July 16th. PNC Financial Services Group’s dividend payout ratio (DPR) is presently 40.39%.

A number of analysts recently issued reports on PNC shares. Nomura Securities raised shares of PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $95.00 to $114.00 in a research report on Thursday, April 16th. Keefe, Bruyette & Woods downgraded shares of PNC Financial Services Group from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $130.00 to $127.00 in a research report on Wednesday, July 15th. Wells Fargo & Co increased their target price on shares of PNC Financial Services Group from $121.00 to $148.00 in a research report on Friday, June 5th. Stephens raised shares of PNC Financial Services Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, May 12th. Finally, Bank of America dropped their target price on shares of PNC Financial Services Group from $138.00 to $123.00 and set a “buy” rating for the company in a research report on Friday, July 10th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $124.21.

In other news, Director Richard J. Harshman acquired 1,000 shares of PNC Financial Services Group stock in a transaction that occurred on Friday, May 15th. The shares were purchased at an average cost of $97.55 per share, for a total transaction of $97,550.00. Following the completion of the purchase, the director now directly owns 1,150 shares of the company’s stock, valued at approximately $112,182.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.30% of the company’s stock.

About PNC Financial Services Group

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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