Mendel Money Management Raises Position in The PNC Financial Services Group, Inc $PNC

Mendel Money Management increased its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 1.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 5,173 shares of the financial services provider’s stock after acquiring an additional 75 shares during the quarter. Mendel Money Management’s holdings in The PNC Financial Services Group were worth $964,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Saudi Central Bank purchased a new stake in shares of The PNC Financial Services Group in the first quarter worth $27,000. IMG Wealth Management Inc. purchased a new stake in shares of The PNC Financial Services Group in the second quarter worth $27,000. Concord Wealth Partners raised its position in shares of The PNC Financial Services Group by 144.9% in the second quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock worth $32,000 after buying an additional 100 shares in the last quarter. Cornerstone Planning Group LLC raised its position in shares of The PNC Financial Services Group by 50.8% in the first 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 in the last quarter. Finally, WPG Advisers LLC purchased a new stake in shares of The PNC Financial Services Group in the first quarter worth $36,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Down 1.0%

Shares of NYSE:PNC opened at $183.09 on Wednesday. The stock’s 50-day moving average price is $196.84 and its 200-day moving average price is $185.45. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $216.26. The stock has a market capitalization of $72.10 billion, a P/E ratio of 11.83, a price-to-earnings-growth ratio of 1.29 and a beta of 1.10. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.06.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.82 billion. During the same period last year, the firm earned $3.49 earnings per share. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, equities analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $6.80 annualized dividend and a dividend yield of 3.7%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 43.93%.

Analysts Set New Price Targets

PNC has been the topic of a number of research reports. Wells Fargo & Company raised their price target on The PNC Financial Services Group from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, October 3rd. The Goldman Sachs Group raised their price target on The PNC Financial Services Group from $178.00 to $196.00 and gave the company a “neutral” rating in a research report on Wednesday, July 2nd. Keefe, Bruyette & Woods upgraded The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and raised their price target for the company from $185.00 to $212.00 in a research report on Wednesday, July 9th. UBS Group raised their price target 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. Finally, Wall Street Zen upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, The PNC Financial Services Group has an average rating of “Moderate Buy” and an average target price of $218.47.

Insider Activity

In related news, EVP Guild Deborah sold 1,080 shares of the firm’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $186.97, for a total value of $201,927.60. Following the sale, the executive vice president directly owned 27,335 shares of the company’s stock, valued at $5,110,824.95. This trade represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.41% of the stock is owned by insiders.

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.