Mcdonald Partners LLC Buys 1,732 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Mcdonald Partners LLC raised its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 26.3% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 8,322 shares of the financial services provider’s stock after purchasing an additional 1,732 shares during the period. Mcdonald Partners LLC’s holdings in The PNC Financial Services Group were worth $1,345,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Steph & Co. raised its stake in The PNC Financial Services Group by 1.8% during the 4th quarter. Steph & Co. now owns 3,720 shares of the financial services provider’s stock worth $576,000 after acquiring an additional 67 shares during the period. Bangor Savings Bank raised its position in shares of The PNC Financial Services Group by 1.2% during the 4th quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock valued at $888,000 after purchasing an additional 69 shares during the period. Triangle Securities Wealth Management lifted its stake in shares of The PNC Financial Services Group by 1.8% during the 1st quarter. Triangle Securities Wealth Management now owns 4,019 shares of the financial services provider’s stock valued at $649,000 after buying an additional 70 shares in the last quarter. Cooper Financial Group boosted its holdings in The PNC Financial Services Group by 1.7% in the 1st quarter. Cooper Financial Group now owns 4,241 shares of the financial services provider’s stock worth $685,000 after buying an additional 70 shares during the period. Finally, Oakworth Capital Inc. increased its stake in The PNC Financial Services Group by 11.7% in the 4th quarter. Oakworth Capital Inc. now owns 715 shares of the financial services provider’s stock worth $111,000 after buying an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Richard Kevin Bynum sold 850 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the transaction, the executive vice president now owns 3,502 shares in the company, valued at approximately $545,856.74. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Richard Kevin Bynum sold 850 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the sale, the executive vice president now owns 3,502 shares in the company, valued at approximately $545,856.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $153.19, for a total transaction of $98,194.79. Following the completion of the transaction, the chief executive officer now owns 568,323 shares in the company, valued at $87,061,400.37. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Down 0.1 %

Shares of NYSE PNC traded down $0.16 during trading hours on Wednesday, hitting $151.74. 1,842,272 shares of the company traded hands, compared to its average volume of 1,900,649. The company’s 50 day moving average price is $154.95 and its 200 day moving average price is $152.74. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $162.24. The stock has a market capitalization of $60.38 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 2.17 and a beta of 1.16. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The business had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the previous year, the business posted $3.98 earnings per share. The business’s revenue was down 8.2% compared to the same quarter last year. On average, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 12.63 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were paid a dividend of $1.55 per share. The ex-dividend date was Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.09%. The PNC Financial Services Group’s dividend payout ratio is 52.06%.

Wall Street Analyst Weigh In

PNC has been the subject of several research analyst reports. Jefferies Financial Group cut their target price on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a research report on Wednesday, April 17th. JPMorgan Chase & Co. reduced their price objective on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and upped their target price for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. Bank of America lifted their price target on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. Finally, Wells Fargo & Company increased their price objective on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $158.43.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.