Cibc World Market Inc. Acquires 3,380 Shares of The PNC Financial Services Group, Inc $PNC

Cibc World Market Inc. raised its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 5.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 61,567 shares of the financial services provider’s stock after acquiring an additional 3,380 shares during the period. Cibc World Market Inc.’s holdings in The PNC Financial Services Group were worth $12,851,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Sivia Capital Partners LLC lifted its holdings in shares of The PNC Financial Services Group by 64.5% during the 4th quarter. Sivia Capital Partners LLC now owns 9,830 shares of the financial services provider’s stock valued at $2,052,000 after purchasing an additional 3,855 shares in the last quarter. Greenspring Advisors LLC bought a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $265,000. Lido Advisors LLC increased its stake in The PNC Financial Services Group by 3.1% during the 4th quarter. Lido Advisors LLC now owns 15,510 shares of the financial services provider’s stock worth $3,134,000 after purchasing an additional 462 shares in the last quarter. North Berkeley Wealth Management LLC acquired a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $271,000. Finally, REAP Financial Group LLC lifted its stake in The PNC Financial Services Group by 13.1% in the fourth quarter. REAP Financial Group LLC now owns 871 shares of the financial services provider’s stock valued at $182,000 after buying an additional 101 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PNC. JPMorgan Chase & Co. increased their price objective on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Keefe, Bruyette & Woods upped their target price on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a “market perform” rating in a research note on Thursday, April 16th. Morgan Stanley increased their target price on The PNC Financial Services Group from $263.00 to $267.00 and gave the stock an “equal weight” rating in a report on Thursday, April 16th. Jefferies Financial Group started coverage on The PNC Financial Services Group in a research note on Thursday, March 26th. They issued a “buy” rating and a $250.00 price target on the stock. Finally, Barclays upped their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $243.11.

Insiders Place Their Bets

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 45,000 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $2,370,906.93. The trade was a 80.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.38% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Stock Up 0.7%

The PNC Financial Services Group stock opened at $228.76 on Friday. 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 1-year low of $172.73 and a 1-year high of $243.94. The company has a fifty day simple moving average of $218.12 and a 200 day simple moving average of $214.36. The company has a market cap of $91.86 billion, a P/E ratio of 13.29, a price-to-earnings-growth ratio of 0.94 and a beta of 0.92.

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

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were given a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $6.80 annualized dividend and a yield of 3.0%. The PNC Financial Services Group’s dividend payout ratio is 39.51%.

The PNC Financial Services Group 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.