HTLF Bank Purchases New Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

HTLF Bank acquired a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,261 shares of the financial services provider’s stock, valued at approximately $350,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BKM Wealth Management LLC acquired a new position in The PNC Financial Services Group in the fourth quarter valued at about $26,000. Tennessee Valley Asset Management Partners acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $26,000. Householder Group Estate & Retirement Specialist LLC lifted its holdings in shares of The PNC Financial Services Group by 350.0% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 140 shares during the period. Fortitude Family Office LLC acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter worth approximately $28,000. Finally, OFI Invest Asset Management bought a new position in The PNC Financial Services Group in the third quarter valued at approximately $25,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PNC. StockNews.com upgraded shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Thursday. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $152.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday. HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and upped their target price for the company from $141.00 to $155.00 in a report on Thursday, March 28th. The Goldman Sachs Group boosted their price target on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Finally, Bank of America lifted their target price on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $156.63.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the completion of the sale, the executive vice president now directly owns 36,570 shares in the company, valued at $5,442,347.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Trading Up 3.0 %

NYSE:PNC opened at $152.30 on Friday. The company has a market cap of $60.59 billion, a P/E ratio of 12.79, a P/E/G ratio of 1.67 and a beta of 1.18. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $162.24. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.84. The stock’s fifty day moving average price is $151.89 and its two-hundred day moving average price is $141.95.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating the consensus estimate of $3.09 by $0.01. The company had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The PNC Financial Services Group’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.98 earnings per share. As a group, analysts expect that The PNC Financial Services Group, Inc. will post 12.62 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be issued a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 4.07%. The PNC Financial Services Group’s payout ratio is currently 52.06%.

The PNC Financial Services Group Company Profile

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.