22,237 Shares in The PNC Financial Services Group, Inc $PNC Purchased by BNP Paribas

BNP Paribas purchased a new position in The PNC Financial Services Group, Inc (NYSE:PNC) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 22,237 shares of the financial services provider’s stock, valued at approximately $4,643,000.

A number of other hedge funds also recently bought and sold shares of PNC. Brighton Jones LLC raised its position in The PNC Financial Services Group by 32.2% in the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after buying an additional 984 shares during the last quarter. Empowered Funds LLC increased its holdings in The PNC Financial Services Group by 2.1% in the 1st quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock worth $1,452,000 after acquiring an additional 170 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in The PNC Financial Services Group by 50.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider’s stock worth $807,000 after purchasing an additional 1,449 shares during the period. Treasurer of the State of North Carolina boosted its stake in The PNC Financial Services Group by 1.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 184,579 shares of the financial services provider’s stock worth $34,409,000 after purchasing an additional 2,808 shares during the period. Finally, Diversify Advisory Services LLC bought a new position in The PNC Financial Services Group in the 2nd quarter worth approximately $482,000. Institutional investors own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Jefferies Financial Group assumed coverage on The PNC Financial Services Group in a research report on Thursday, March 26th. They set a “buy” rating and a $250.00 target price for the company. Oppenheimer raised their price target on The PNC Financial Services Group from $263.00 to $268.00 and gave the stock an “outperform” rating in a research report on Thursday, April 16th. Barclays raised their price target on The PNC Financial Services Group from $271.00 to $277.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Keefe, Bruyette & Woods raised their price target on The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a “market perform” rating in a research report on Thursday, April 16th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.11.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $216.12 on Tuesday. The firm has a market cap of $86.79 billion, a P/E ratio of 12.56, a P/E/G ratio of 0.92 and a beta of 0.94. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The PNC Financial Services Group, Inc has a 12 month low of $170.49 and a 12 month high of $243.94. The stock’s fifty day moving average price is $216.56 and its 200-day moving average price is $213.46.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, beating the consensus estimate of $3.92 by $0.40. The firm had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The business’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.51 earnings per share. On average, equities research analysts expect that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were paid a dividend of $1.70 per share. The ex-dividend date was Tuesday, April 14th. This represents a $6.80 annualized dividend and a dividend yield of 3.1%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 39.51%.

Insider Activity at The PNC Financial Services Group

In other news, Director Andrew T. Feldstein sold 45,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the transaction, the director owned 10,749 shares in the company, valued at approximately $2,370,906.93. This trade represents a 80.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.38% of the company’s stock.

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.