Hardy Reed LLC Acquires New Shares in The PNC Financial Services Group, Inc $PNC

Hardy Reed LLC bought a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,397 shares of the financial services provider’s stock, valued at approximately $1,285,000.

Other large investors have also recently made changes to their positions in the company. Kennebec Savings Bank lifted its holdings in The PNC Financial Services Group by 1.6% during the 3rd quarter. Kennebec Savings Bank now owns 3,424 shares of the financial services provider’s stock worth $688,000 after purchasing an additional 54 shares in the last quarter. Winthrop Capital Management LLC increased its position in shares of The PNC Financial Services Group by 2.1% during the second quarter. Winthrop Capital Management LLC now owns 2,619 shares of the financial services provider’s stock valued at $488,000 after buying an additional 55 shares during the period. SCS Capital Management LLC lifted its holdings in shares of The PNC Financial Services Group by 0.6% in 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 in the last quarter. Webster Bank N. A. boosted its position in shares of The PNC Financial Services Group by 0.5% in the third 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 period. Finally, YANKCOM Partnership grew its stake in The PNC Financial Services Group by 2.3% during the third quarter. YANKCOM Partnership now owns 2,537 shares of the financial services provider’s stock valued at $510,000 after acquiring an additional 57 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. TD Cowen raised their price target on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Weiss Ratings reissued a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Monday, December 22nd. Barclays boosted their target price on The PNC Financial Services Group from $235.00 to $271.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Royal Bank Of Canada raised their price target on The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Finally, Keefe, Bruyette & Woods upped 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 research report on Tuesday, January 20th. Fifteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $234.44.

The PNC Financial Services Group Stock Down 0.1%

Shares of PNC opened at $229.54 on Friday. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $243.94. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a 50 day simple moving average of $218.84 and a two-hundred day simple moving average of $201.92. The firm has a market cap of $90.02 billion, a P/E ratio of 13.84, a P/E/G ratio of 0.96 and a beta of 0.99.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, topping analysts’ consensus estimates of $4.23 by $0.65. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The firm had revenue of $6.07 billion during the quarter, compared to analyst estimates of $5.90 billion. During the same period in the previous year, the business posted $3.77 EPS. The business’s quarterly revenue was up 9.1% on a year-over-year basis. On average, analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th were paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 40.99%.

About The PNC Financial Services Group

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.