Neuberger Berman Group LLC Has $214.02 Million Stake in PNC Financial Services (PNC)

Neuberger Berman Group LLC lowered its holdings in shares of PNC Financial Services (NYSE:PNC) by 6.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,415,106 shares of the financial services provider’s stock after selling 96,543 shares during the period. Neuberger Berman Group LLC owned approximately 0.30% of PNC Financial Services worth $214,021,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PNC. Atria Investments LLC grew its stake in PNC Financial Services by 59.1% during the fourth quarter. Atria Investments LLC now owns 5,975 shares of the financial services provider’s stock worth $862,000 after purchasing an additional 2,219 shares during the period. Pennsylvania Trust Co grew its stake in PNC Financial Services by 1.8% during the fourth quarter. Pennsylvania Trust Co now owns 49,422 shares of the financial services provider’s stock worth $7,134,000 after purchasing an additional 865 shares during the period. BLB&B Advisors LLC grew its stake in PNC Financial Services by 2.0% during the fourth quarter. BLB&B Advisors LLC now owns 60,670 shares of the financial services provider’s stock worth $8,754,000 after purchasing an additional 1,174 shares during the period. Hudson Valley Investment Advisors Inc. ADV grew its stake in PNC Financial Services by 6.0% during the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 20,362 shares of the financial services provider’s stock worth $2,938,000 after purchasing an additional 1,150 shares during the period. Finally, Bank of Montreal Can grew its stake in PNC Financial Services by 8.1% during the fourth quarter. Bank of Montreal Can now owns 1,681,159 shares of the financial services provider’s stock worth $242,575,000 after purchasing an additional 126,061 shares during the period. 82.86% of the stock is owned by institutional investors and hedge funds.

Shares of PNC Financial Services opened at $150.35 on Tuesday, Marketbeat.com reports. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 1.14. PNC Financial Services has a 52 week low of $150.20 and a 52 week high of $151.86. The company has a market capitalization of $70.88 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 1.42 and a beta of 0.91.

PNC Financial Services (NYSE:PNC) last posted its earnings results on Friday, April 13th. The financial services provider reported $2.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.42 by $0.01. PNC Financial Services had a return on equity of 9.82% and a net margin of 29.85%. The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.14 billion. During the same quarter last year, the company earned $1.96 earnings per share. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. research analysts predict that PNC Financial Services will post 10.52 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Saturday, May 5th. Stockholders of record on Monday, April 16th were issued a $0.75 dividend. The ex-dividend date was Friday, April 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.00%. PNC Financial Services’s dividend payout ratio is presently 35.29%.

Several equities research analysts recently commented on the company. BMO Capital Markets reaffirmed a “buy” rating on shares of PNC Financial Services in a research note on Thursday, January 25th. Wells Fargo set a $157.00 target price on PNC Financial Services and gave the stock a “hold” rating in a research note on Tuesday, January 16th. Argus raised their target price on PNC Financial Services to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Zacks Investment Research cut PNC Financial Services from a “buy” rating to a “hold” rating in a research note on Tuesday, February 27th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of PNC Financial Services in a research note on Tuesday, January 16th. Nineteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $149.36.

About PNC Financial Services

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, 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 (NYSE:PNC)

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