NBH Bank Makes New Investment in The PNC Financial Services Group, Inc $PNC

NBH Bank acquired a new stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 2,556 shares of the financial services provider’s stock, valued at approximately $629,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PNC. Highland Investment Advisors LLC purchased a new position in The PNC Financial Services Group during the second quarter valued at $27,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group in the second quarter worth about $28,000. Monetary Solutions Ltd bought a new stake in shares of The PNC Financial Services Group in the fourth quarter worth about $25,000. Quarry LP purchased a new stake in shares of The PNC Financial Services Group in the third quarter worth about $25,000. Finally, Archer Investment Corp purchased a new stake in shares of The PNC Financial Services Group in the second quarter worth about $33,000. Institutional investors own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Stacy Juchno sold 3,354 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $255.84, for a total transaction of $858,087.36. Following the transaction, the executive vice president directly owned 18,800 shares in the company, valued at approximately $4,809,792. This represents a 15.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael Thomas sold 1,500 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $238.14, for a total transaction of $357,210.00. Following the completion of the sale, the executive vice president directly owned 5,059 shares in the company, valued at $1,204,750.26. This trade represents a 22.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.38% of the stock is currently owned by insiders.

The PNC Financial Services Group Stock Up 0.2%

Shares of PNC opened at $245.64 on Friday. The company has a market cap of $98.00 billion, a PE ratio of 13.52, a P/E/G ratio of 1.22 and a beta of 0.90. The business has a fifty day moving average of $249.54 and a 200 day moving average of $229.85. The PNC Financial Services Group, Inc has a 52-week low of $176.88 and a 52-week high of $258.96. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 1.34.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $4.85 EPS for the quarter, topping the consensus estimate of $4.46 by $0.39. The PNC Financial Services Group had a net margin of 21.41% and a return on equity of 12.48%. The company had revenue of $6.88 billion during the quarter, compared to analyst estimates of $6.51 billion. During the same period in the previous year, the firm earned $3.85 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 21.4% compared to the same quarter last year. On average, sell-side analysts expect that The PNC Financial Services Group, Inc will post 19.25 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 5th. Investors of record on Monday, July 20th were paid a dividend of $2.00 per share. The ex-dividend date of this dividend was Monday, July 20th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.3%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The PNC Financial Services Group’s dividend payout ratio is presently 44.03%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PNC shares. Citigroup raised their price target on The PNC Financial Services Group from $280.00 to $290.00 and gave the company a “buy” rating in a report on Monday, July 20th. Morgan Stanley upped their price objective on The PNC Financial Services Group from $267.00 to $278.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Royal Bank Of Canada increased their target price on The PNC Financial Services Group from $235.00 to $273.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. Stephens raised their target price on shares of The PNC Financial Services Group from $265.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of The PNC Financial Services Group in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $265.73.

About The PNC Financial Services Group

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.