Rhumbline Advisers Decreases Stake in The PNC Financial Services Group, Inc $PNC

Rhumbline Advisers decreased its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 3.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 699,512 shares of the financial services provider’s stock after selling 28,747 shares during the period. Rhumbline Advisers’ holdings in The PNC Financial Services Group were worth $140,553,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PNC. Kennebec Savings Bank raised its holdings in shares of The PNC Financial Services Group by 1.6% in the third quarter. Kennebec Savings Bank now owns 3,424 shares of the financial services provider’s stock worth $688,000 after acquiring an additional 54 shares during the last quarter. Winthrop Capital Management LLC grew its position in shares of The PNC Financial Services Group by 2.1% in the second quarter. Winthrop Capital Management LLC now owns 2,619 shares of the financial services provider’s stock valued at $488,000 after purchasing an additional 55 shares during the period. SCS Capital Management LLC lifted its position in The PNC Financial Services Group by 0.6% during the second quarter. SCS Capital Management LLC now owns 8,527 shares of the financial services provider’s stock worth $1,590,000 after buying an additional 55 shares during the period. Webster Bank N. A. increased its stake in shares of The PNC Financial Services Group by 0.5% during the 3rd quarter. Webster Bank N. A. now owns 10,975 shares of the financial services provider’s stock valued at $2,205,000 after acquiring an additional 55 shares during the last quarter. Finally, Rosenberg Matthew Hamilton lifted its holdings in shares of The PNC Financial Services Group by 15.0% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 429 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 56 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Down 1.9%

PNC opened at $235.66 on Thursday. The firm has a market cap of $92.42 billion, a P/E ratio of 14.21, a price-to-earnings-growth ratio of 1.00 and a beta of 0.99. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $243.94. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.81 and a current ratio of 0.81. The business has a 50 day moving average price of $217.58 and a 200 day moving average price of $201.42.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, topping analysts’ consensus estimates of $4.23 by $0.65. The company had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $5.90 billion. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the firm earned $3.77 EPS. Research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th were issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, January 20th. The PNC Financial Services Group’s payout ratio is currently 40.99%.

Analyst Ratings Changes

A number of analysts have recently issued reports on PNC shares. Oppenheimer boosted their target price on The PNC Financial Services Group from $268.00 to $284.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Morgan Stanley upped their price target on shares of The PNC Financial Services Group from $211.00 to $221.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 20th. Keefe, Bruyette & Woods boosted their price objective on shares of The PNC Financial Services Group from $228.00 to $247.00 and gave the stock a “market perform” rating in a report on Tuesday, January 20th. TD Cowen upped their price objective on The PNC Financial Services Group from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Finally, Wells Fargo & Company boosted their price target on The PNC Financial Services Group from $252.00 to $264.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Fifteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $234.44.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.