1,379 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Purchased by SlateStone Wealth LLC

SlateStone Wealth LLC bought a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,379 shares of the financial services provider’s stock, valued at approximately $214,000.

A number of other large investors have also recently bought and sold shares of the stock. OFI Invest Asset Management acquired a new stake in shares of The PNC Financial Services Group during the 3rd quarter worth about $25,000. BKM Wealth Management LLC acquired a new stake in The PNC Financial Services Group during the 4th quarter valued at $26,000. Tennessee Valley Asset Management Partners acquired a new position in The PNC Financial Services Group in the fourth quarter worth $26,000. Fortitude Family Office LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $28,000. Finally, Householder Group Estate & Retirement Specialist LLC raised its holdings in shares of The PNC Financial Services Group by 350.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after buying an additional 140 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock traded up $0.52 during trading on Wednesday, reaching $158.13. The company’s stock had a trading volume of 143,115 shares, compared to its average volume of 2,122,728. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $162.24. The firm has a market cap of $62.91 billion, a PE ratio of 13.23, a P/E/G ratio of 1.76 and a beta of 1.18. The business’s 50-day moving average price is $152.28 and its 200-day moving average price is $142.77. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The business had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the business posted $3.98 earnings per share. The firm’s quarterly revenue was down 8.2% compared to the same quarter last year. Equities 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 business also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be paid a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.92%. The PNC Financial Services Group’s payout ratio is presently 52.06%.

Insider Activity

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PNC shares. Evercore ISI cut their price target on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. Bank of America upped their target price on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. Jefferies Financial Group cut their price objective on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a report on Wednesday, April 17th. Morgan Stanley lifted their target price on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a report on Tuesday, January 30th. Finally, Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $152.00 price objective on shares of The PNC Financial Services Group in a research note on Wednesday, April 17th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $156.63.

About The PNC Financial Services Group

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.