Heartland Advisors Inc. Grows Position in The PNC Financial Services Group, Inc $PNC

Heartland Advisors Inc. raised its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 45.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 67,645 shares of the financial services provider’s stock after purchasing an additional 21,187 shares during the quarter. Heartland Advisors Inc.’s holdings in The PNC Financial Services Group were worth $13,592,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in PNC. IMG Wealth Management Inc. purchased a new stake in The PNC Financial Services Group during the 2nd quarter valued at $27,000. Westfuller Advisors LLC purchased a new stake in shares of The PNC Financial Services Group during the third quarter worth about $34,000. FNY Investment Advisers LLC bought a new position in shares of The PNC Financial Services Group during the second quarter worth $37,000. True Wealth Design LLC increased its holdings in shares of The PNC Financial Services Group by 1,133.3% in the second quarter. True Wealth Design LLC now owns 222 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 204 shares during the last quarter. Finally, Bayforest Capital Ltd raised its holdings in shares of The PNC Financial Services Group by 237.1% during the 3rd quarter. Bayforest Capital Ltd now owns 209 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 147 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Oppenheimer increased their price target on shares of The PNC Financial Services Group from $268.00 to $284.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Monday, December 22nd. Wells Fargo & Company upped their price target on The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Royal Bank Of Canada upped their target price on The PNC Financial Services Group from $222.00 to $235.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. Finally, TD Cowen lifted their price target on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Fifteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Moderate Buy” and a consensus target price of $234.44.

The PNC Financial Services Group Stock Down 0.1%

Shares of NYSE PNC opened at $229.54 on Tuesday. The stock has a market cap of $90.02 billion, a PE ratio of 13.84, a P/E/G ratio of 0.96 and a beta of 0.99. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.94. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $243.94. The company has a 50-day moving average of $219.49 and a 200 day moving average of $202.27.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, topping the consensus estimate of $4.23 by $0.65. The business had revenue of $6.07 billion for 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 business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.77 EPS. As a group, sell-side analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were issued a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, January 20th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.0%. The PNC Financial Services Group’s dividend payout ratio is currently 40.99%.

The PNC Financial Services Group 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.