PNC Financial Services Group Inc (NYSE:PNC) Shares Acquired by Community Bank N.A.

Community Bank N.A. grew its holdings in PNC Financial Services Group Inc (NYSE:PNC) by 11.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,708 shares of the financial services provider’s stock after buying an additional 1,095 shares during the period. Community Bank N.A.’s holdings in PNC Financial Services Group were worth $1,127,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. acquired a new stake in PNC Financial Services Group during the second quarter worth about $8,534,000. Vident Investment Advisory LLC increased its position in PNC Financial Services Group by 19.0% during the first quarter. Vident Investment Advisory LLC now owns 6,645 shares of the financial services provider’s stock worth $636,000 after purchasing an additional 1,060 shares during the last quarter. Alexandria Capital LLC increased its position in PNC Financial Services Group by 5.6% during the first quarter. Alexandria Capital LLC now owns 32,483 shares of the financial services provider’s stock worth $3,109,000 after purchasing an additional 1,728 shares during the last quarter. Addenda Capital Inc. increased its position in PNC Financial Services Group by 4.2% during the first quarter. Addenda Capital Inc. now owns 32,252 shares of the financial services provider’s stock worth $3,087,000 after purchasing an additional 1,302 shares during the last quarter. Finally, Valeo Financial Advisors LLC increased its position in PNC Financial Services Group by 7.8% during the second quarter. Valeo Financial Advisors LLC now owns 2,755 shares of the financial services provider’s stock worth $290,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 80.49% of the company’s stock.

A number of equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods cut shares of PNC Financial Services Group from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $130.00 to $127.00 in a research report on Wednesday, July 15th. Oppenheimer reissued a “hold” rating on shares of PNC Financial Services Group in a research note on Wednesday, July 15th. Nomura Securities raised shares of PNC Financial Services Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $95.00 to $114.00 in a research note on Thursday, April 16th. Compass Point raised their price objective on shares of PNC Financial Services Group from $104.00 to $109.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. Finally, Morgan Stanley raised their price objective on shares of PNC Financial Services Group from $98.00 to $109.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 24th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $124.21.

In related news, Director Richard J. Harshman acquired 1,000 shares of the business’s stock in a transaction on Friday, May 15th. The shares were bought at an average price of $97.55 per share, with a total value of $97,550.00. Following the completion of the acquisition, the director now owns 1,150 shares in the company, valued at $112,182.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.30% of the stock is currently owned by company insiders.

PNC stock traded up $0.40 during midday trading on Friday, reaching $106.67. 2,082,383 shares of the company were exchanged, compared to its average volume of 2,607,720. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.87 and a current ratio of 0.88. PNC Financial Services Group Inc has a 1-year low of $79.41 and a 1-year high of $161.79. The stock’s 50-day simple moving average is $105.18 and its 200 day simple moving average is $116.06. The company has a market cap of $45.26 billion, a price-to-earnings ratio of 6.56, a price-to-earnings-growth ratio of 4.15 and a beta of 1.29.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Wednesday, July 15th. The financial services provider reported ($1.90) earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($2.78). PNC Financial Services Group had a return on equity of 5.78% and a net margin of 35.52%. The company had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the previous year, the business posted $2.88 EPS. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. On average, research analysts anticipate that PNC Financial Services Group Inc will post 3.67 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Shareholders of record on Friday, July 17th will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Thursday, July 16th. This represents a $4.60 dividend on an annualized basis and a yield of 4.31%. PNC Financial Services Group’s payout ratio is currently 40.39%.

About PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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