Twin Lakes Capital Management LLC Sells 652 Shares of The PNC Financial Services Group, Inc $PNC

Twin Lakes Capital Management LLC lowered its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 26.4% in the second quarter, Holdings Channel.com reports. The fund owned 1,817 shares of the financial services provider’s stock after selling 652 shares during the period. Twin Lakes Capital Management LLC’s holdings in The PNC Financial Services Group were worth $339,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the company. Saudi Central Bank bought a new position in shares of The PNC Financial Services Group during the 1st quarter worth approximately $27,000. IMG Wealth Management Inc. bought a new position in shares of The PNC Financial Services Group during the 2nd quarter worth approximately $27,000. Concord Wealth Partners lifted its position in shares of The PNC Financial Services Group by 144.9% during the 2nd quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock worth $32,000 after buying an additional 100 shares during the period. Cornerstone Planning Group LLC lifted its position in shares of The PNC Financial Services Group by 50.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after buying an additional 65 shares during the period. Finally, WPG Advisers LLC bought a new position in shares of The PNC Financial Services Group during the 1st quarter worth approximately $36,000. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Up 2.4%

Shares of The PNC Financial Services Group stock opened at $186.38 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.06. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $216.26. The business has a fifty day simple moving average of $197.18 and a 200 day simple moving average of $185.06. The stock has a market cap of $73.40 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 1.30 and a beta of 1.10.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, topping analysts’ consensus estimates of $4.05 by $0.30. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The business had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.82 billion. During the same period in the previous year, the firm earned $3.49 earnings per share. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. Research analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th will be given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, October 14th. The PNC Financial Services Group’s dividend payout ratio is currently 43.93%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Cfra Research upgraded The PNC Financial Services Group to a “moderate buy” rating in a research report on Thursday, October 16th. UBS Group lifted their price objective on The PNC Financial Services Group from $224.00 to $229.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Keefe, Bruyette & Woods upgraded The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $185.00 to $212.00 in a research report on Wednesday, July 9th. Wolfe Research reiterated a “peer perform” rating on shares of The PNC Financial Services Group in a research report on Thursday, July 3rd. Finally, Morgan Stanley lifted their price objective on The PNC Financial Services Group from $186.00 to $206.00 and gave the company an “underweight” rating in a research report on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group currently has an average rating of “Moderate Buy” and an average target price of $218.47.

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.