Traders Buy Shares of PNC Financial Services Group, Inc. (The) (PNC) on Weakness

Traders bought shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) on weakness during trading on Tuesday. $48.77 million flowed into the stock on the tick-up and $25.01 million flowed out of the stock on the tick-down, for a money net flow of $23.76 million into the stock. Of all companies tracked, PNC Financial Services Group, Inc. (The) had the 13th highest net in-flow for the day. PNC Financial Services Group, Inc. (The) traded down ($0.18) for the day and closed at $133.11

Several research analysts have recently commented on PNC shares. Robert W. Baird reaffirmed a “buy” rating and issued a $135.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a research note on Monday, August 28th. Zacks Investment Research raised PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a research note on Tuesday, September 5th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $134.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a research note on Sunday, August 27th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $130.00 price objective (up previously from $120.00) on shares of PNC Financial Services Group, Inc. (The) in a research note on Tuesday, July 25th. Finally, Nomura raised their price objective on PNC Financial Services Group, Inc. (The) from $132.00 to $135.00 and gave the stock a “neutral” rating in a research note on Monday, October 23rd. Sixteen equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $135.93.

The company has a market capitalization of $63,210.00, a price-to-earnings ratio of 16.22, a P/E/G ratio of 1.77 and a beta of 0.91. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.92 and a quick ratio of 0.92.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last issued its quarterly earnings results on Friday, October 13th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.13 by $0.03. PNC Financial Services Group, Inc. (The) had a return on equity of 9.29% and a net margin of 24.61%. The firm had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.09 billion. During the same period last year, the company earned $1.84 EPS. PNC Financial Services Group, Inc. (The)’s quarterly revenue was up 7.7% compared to the same quarter last year. equities analysts anticipate that PNC Financial Services Group, Inc. will post 8.43 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Sunday, November 5th. Investors of record on Tuesday, October 17th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend was Monday, October 16th. PNC Financial Services Group, Inc. (The)’s dividend payout ratio is currently 36.54%.

In related news, insider Wyk Steven C. Van sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 19th. The stock was sold at an average price of $135.00, for a total transaction of $675,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Karen L. Larrimer sold 3,135 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $136.98, for a total value of $429,432.30. Following the sale, the insider now directly owns 20,449 shares of the company’s stock, valued at $2,801,104.02. The disclosure for this sale can be found here. Insiders have sold a total of 12,640 shares of company stock valued at $1,729,952 over the last three months. 0.43% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of PNC. Proficio Capital Partners LLC raised its position in PNC Financial Services Group, Inc. (The) by 1,365.4% during the 2nd quarter. Proficio Capital Partners LLC now owns 762 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 710 shares in the last quarter. Tower Research Capital LLC TRC raised its position in PNC Financial Services Group, Inc. (The) by 12.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 821 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 91 shares in the last quarter. First Interstate Bank raised its position in PNC Financial Services Group, Inc. (The) by 2.6% during the 2nd quarter. First Interstate Bank now owns 982 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 25 shares in the last quarter. Atlantic Trust LLC bought a new stake in PNC Financial Services Group, Inc. (The) during the 2nd quarter valued at $129,000. Finally, Legacy Advisors LLC bought a new stake in PNC Financial Services Group, Inc. (The) during the 3rd quarter valued at $136,000. 80.22% of the stock is owned by hedge funds and other institutional investors.

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About PNC Financial Services Group, Inc. (The)

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

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