Hoylecohen LLC Purchases New Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Hoylecohen LLC purchased a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,427 shares of the financial services provider’s stock, valued at approximately $221,000.

Other hedge funds also recently bought and sold shares of the company. Steph & Co. grew its position in shares of The PNC Financial Services Group by 1.8% in the fourth quarter. Steph & Co. now owns 3,720 shares of the financial services provider’s stock valued at $576,000 after purchasing an additional 67 shares during the period. Bangor Savings Bank boosted its holdings in The PNC Financial Services Group by 1.2% in the 4th quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock worth $888,000 after buying an additional 69 shares during the last quarter. Oakworth Capital Inc. increased its stake in The PNC Financial Services Group by 11.7% during the 4th quarter. Oakworth Capital Inc. now owns 715 shares of the financial services provider’s stock worth $111,000 after buying an additional 75 shares in the last quarter. Caprock Group LLC raised its holdings in shares of The PNC Financial Services Group by 0.9% during the fourth quarter. Caprock Group LLC now owns 8,574 shares of the financial services provider’s stock valued at $1,328,000 after acquiring an additional 79 shares during the last quarter. Finally, RMR Wealth Builders lifted its position in shares of The PNC Financial Services Group by 1.2% in the fourth quarter. RMR Wealth Builders now owns 6,561 shares of the financial services provider’s stock valued at $1,016,000 after acquiring an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PNC shares. Wells Fargo & Company boosted their price target on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research report 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 report on Monday, April 1st. JPMorgan Chase & Co. lowered 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. Morgan Stanley increased their price objective on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a report on Tuesday, January 30th. Finally, Evercore ISI lowered their target price on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, The PNC Financial Services Group has an average rating of “Hold” and an average target price of $157.02.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction 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 transaction was disclosed in a document filed with the SEC, which is available at this link. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group Trading Up 1.0 %

Shares of NYSE PNC traded up $1.49 during mid-day trading on Friday, reaching $154.26. 1,486,425 shares of the company’s stock were exchanged, compared to its average volume of 1,284,169. The company’s 50-day moving average is $155.95 and its 200-day moving average is $149.04. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $61.38 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 2.97 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $162.24.

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

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Monday, April 15th were issued a $1.55 dividend. The ex-dividend date was Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 4.02%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.

About The PNC Financial Services Group

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.