HTLF Bank Purchases Shares of 2,261 The PNC Financial Services Group, Inc. (NYSE:PNC)

HTLF Bank acquired a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 2,261 shares of the financial services provider’s stock, valued at approximately $350,000.

Several other hedge funds have also modified their holdings of PNC. FMR LLC raised its stake in The PNC Financial Services Group by 6.7% during the third quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock valued at $1,758,880,000 after purchasing an additional 893,808 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of The PNC Financial Services Group by 7.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 13,070,513 shares of the financial services provider’s stock worth $2,064,357,000 after buying an additional 860,489 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of The PNC Financial Services Group by 2.4% in the 1st quarter. Geode Capital Management LLC now owns 7,219,084 shares of the financial services provider’s stock worth $915,146,000 after buying an additional 171,876 shares during the last quarter. Invesco Ltd. raised its position in shares of The PNC Financial Services Group by 10.4% during the 3rd quarter. Invesco Ltd. now owns 5,164,321 shares of the financial services provider’s stock valued at $634,024,000 after buying an additional 484,475 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of The PNC Financial Services Group by 2.0% in the 3rd quarter. Northern Trust Corp now owns 4,702,020 shares of the financial services provider’s stock valued at $577,267,000 after acquiring an additional 93,636 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Price Performance

PNC opened at $152.30 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.42. The business’s fifty day simple moving average is $151.89 and its 200-day simple moving average is $141.95. The company has a market capitalization of $60.59 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 1.67 and a beta of 1.18. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating the consensus estimate of $3.09 by $0.01. The business had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The company’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.98 EPS. On average, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 12.62 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date is Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio is currently 52.06%.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the sale, the executive vice president now directly owns 36,570 shares in the company, valued at $5,442,347.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

PNC has been the topic of a number of recent research reports. StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Thursday. HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and lifted their price objective for the stock from $141.00 to $155.00 in a research note on Thursday, March 28th. The Goldman Sachs Group increased their target price on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Jefferies Financial Group dropped their price target on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a research note on Wednesday. Finally, Wells Fargo & Company raised their price objective on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $156.63.

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.