Hsbc Holdings PLC Takes Position in The PNC Financial Services Group, Inc $PNC

Hsbc Holdings PLC bought a new position in The PNC Financial Services Group, Inc (NYSE:PNC) in the second quarter, according to its most recent filing with the SEC. The firm bought 1,091,133 shares of the financial services provider’s stock, valued at approximately $268,765,000. Hsbc Holdings PLC owned approximately 0.27% of The PNC Financial Services Group as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of PNC. Monetary Solutions Ltd purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at $25,000. Quarry LP acquired a new stake in The PNC Financial Services Group during the 3rd quarter worth about $25,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in The PNC Financial Services Group during the 2nd quarter valued at about $28,000. Modus Advisors LLC acquired a new position in shares of The PNC Financial Services Group in the fourth quarter valued at about $29,000. Finally, Financial Life Planners purchased a new position in shares of The PNC Financial Services Group in the first quarter worth about $31,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,500 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $238.14, for a total value of $357,210.00. Following the transaction, the executive vice president owned 5,059 shares in the company, valued at approximately $1,204,750.26. This trade represents a 22.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Stacy M. Juchno sold 3,354 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $255.84, for a total transaction of $858,087.36. Following the sale, the executive vice president directly owned 18,800 shares of the company’s stock, valued at $4,809,792. The trade was a 15.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 6,654 shares of company stock valued at $1,627,011. 0.38% of the stock is owned by insiders.

The PNC Financial Services Group Trading Up 0.2%

Shares of NYSE:PNC opened at $244.15 on Wednesday. The business’s 50 day moving average price is $248.75 and its 200-day moving average price is $229.47. The PNC Financial Services Group, Inc has a 1 year low of $176.88 and a 1 year high of $258.96. The firm has a market capitalization of $97.40 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 0.97 and a beta of 0.91. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.85 and a quick ratio of 0.84.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.46 by $0.39. The business had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.51 billion. The PNC Financial Services Group had a net margin of 21.41% and a return on equity of 12.48%. The company’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same quarter last year, the business earned $3.85 earnings per share. On average, equities research analysts forecast that The PNC Financial Services Group, Inc will post 19.25 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 5th. Investors of record on Monday, July 20th were paid a $2.00 dividend. The ex-dividend date of this dividend was Monday, July 20th. This represents a $8.00 annualized dividend and a yield of 3.3%. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The PNC Financial Services Group’s dividend payout ratio is currently 44.03%.

Analyst Ratings Changes

Several equities analysts recently weighed in on PNC shares. Morgan Stanley increased their price target on shares of The PNC Financial Services Group from $267.00 to $278.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Oppenheimer upped their price objective on shares of The PNC Financial Services Group from $271.00 to $281.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. Argus raised their target price on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Citigroup boosted their target price on shares of The PNC Financial Services Group from $280.00 to $290.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Finally, Barclays upped their price target on shares of The PNC Financial Services Group from $277.00 to $284.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $265.73.

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.