Tweedy Browne Co LLC Makes New $1.05 Million Investment in The PNC Financial Services Group, Inc $PNC

Tweedy Browne Co LLC acquired a new stake in The PNC Financial Services Group, Inc (NYSE:PNC) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 5,204 shares of the financial services provider’s stock, valued at approximately $1,046,000.

A number of other institutional investors have also made changes to their positions in PNC. Kennebec Savings Bank boosted its holdings in The PNC Financial Services Group by 1.6% during the third quarter. Kennebec Savings Bank now owns 3,424 shares of the financial services provider’s stock worth $688,000 after purchasing an additional 54 shares during the last quarter. SCS Capital Management LLC lifted its position in The PNC Financial Services Group by 0.6% during the 2nd quarter. SCS Capital Management LLC now owns 8,527 shares of the financial services provider’s stock worth $1,590,000 after buying an additional 55 shares in the last quarter. Webster Bank N. A. lifted its position in The PNC Financial Services Group by 0.5% during the 3rd quarter. Webster Bank N. A. now owns 10,975 shares of the financial services provider’s stock worth $2,205,000 after buying an additional 55 shares in the last quarter. YANKCOM Partnership boosted its stake in shares of The PNC Financial Services Group by 2.3% during the 3rd quarter. YANKCOM Partnership now owns 2,537 shares of the financial services provider’s stock worth $510,000 after buying an additional 57 shares during the last quarter. Finally, Foster & Motley Inc. boosted its stake in shares of The PNC Financial Services Group by 4.2% during the 3rd quarter. Foster & Motley Inc. now owns 1,420 shares of the financial services provider’s stock worth $285,000 after buying an additional 57 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Up 1.6%

Shares of PNC stock opened at $204.03 on Wednesday. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $243.94. The stock has a market cap of $82.30 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 0.90 and a beta of 0.98. The firm’s 50-day moving average is $220.96 and its 200-day moving average is $205.22. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, topping analysts’ consensus estimates of $4.23 by $0.65. The business had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $5.90 billion. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The PNC Financial Services Group’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the company posted $3.77 earnings per share. Sell-side analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th were paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Tuesday, January 20th. The PNC Financial Services Group’s payout ratio is currently 40.99%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods lifted their target price on The PNC Financial Services Group from $228.00 to $247.00 and gave the company a “market perform” rating in a research report on Tuesday, January 20th. Oppenheimer increased their price target on The PNC Financial Services Group from $268.00 to $284.00 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. Royal Bank Of Canada raised their price target on The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. JPMorgan Chase & Co. boosted their price target on The PNC Financial Services Group from $228.50 to $251.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. Finally, Barclays upped their price objective on The PNC Financial Services Group from $235.00 to $271.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Fifteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $234.44.

Insiders Place Their Bets

In related news, EVP Alexander E. C. Overstrom sold 2,500 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $233.91, for a total value of $584,775.00. Following the sale, the executive vice president owned 21,120 shares in the company, valued at approximately $4,940,179.20. This represents a 10.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Richard Kevin Bynum sold 7,407 shares of The PNC Financial Services Group stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $230.98, for a total transaction of $1,710,868.86. Following the transaction, the executive vice president directly owned 1,942 shares of the company’s stock, valued at approximately $448,563.16. This trade represents a 79.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 64,186 shares of company stock valued at $14,840,973 over the last 90 days. 0.41% of the stock is owned by insiders.

The PNC Financial Services Group Company Profile

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.