Enterprise Financial Services Corp Takes $246,000 Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Enterprise Financial Services Corp acquired a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,587 shares of the financial services provider’s stock, valued at approximately $246,000.

Several other large investors also recently modified their holdings of the stock. BKM Wealth Management LLC acquired a new position in The PNC Financial Services Group during the 4th quarter worth $26,000. Tennessee Valley Asset Management Partners acquired a new position in The PNC Financial Services Group during the 4th quarter worth $26,000. Householder Group Estate & Retirement Specialist LLC lifted its stake in shares of The PNC Financial Services Group by 350.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Fortitude Family Office LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $28,000. Finally, Criterion Capital Advisors LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $32,000. 83.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the sale, the executive vice president now owns 3,502 shares of the company’s stock, valued at $545,856.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group Stock Performance

NYSE:PNC traded down $1.75 during mid-day trading on Thursday, hitting $154.75. The stock had a trading volume of 314,608 shares, compared to its average volume of 1,944,038. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $162.24. The stock has a market cap of $61.58 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 3.06 and a beta of 1.16. The company’s 50 day simple moving average is $155.76 and its 200 day simple moving average is $148.59. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period last year, the business posted $3.98 earnings per share. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. On average, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 12.62 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Monday, April 15th were paid a $1.55 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 4.01%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 52.06%.

Analysts Set New Price Targets

PNC has been the topic of a number of analyst reports. HSBC raised The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their price target for the company from $141.00 to $155.00 in a research note on Thursday, March 28th. JPMorgan Chase & Co. lowered their price objective on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. The Goldman Sachs Group upped their price objective on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research report on Tuesday, January 30th. Finally, StockNews.com cut shares of The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Tuesday. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $157.02.

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.