Chartwell Investment Partners LLC Purchases 1,230 Shares of PNC Financial Services Group Inc (NYSE:PNC)

Chartwell Investment Partners LLC lifted its position in shares of PNC Financial Services Group Inc (NYSE:PNC) by 2.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 47,889 shares of the financial services provider’s stock after acquiring an additional 1,230 shares during the quarter. Chartwell Investment Partners LLC’s holdings in PNC Financial Services Group were worth $5,038,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Tower Bridge Advisors lifted its holdings in PNC Financial Services Group by 2.5% during the first quarter. Tower Bridge Advisors now owns 4,105 shares of the financial services provider’s stock valued at $393,000 after purchasing an additional 100 shares during the last quarter. Community Bank N.A. lifted its stake in shares of PNC Financial Services Group by 1.1% during the 1st quarter. Community Bank N.A. now owns 9,613 shares of the financial services provider’s stock valued at $920,000 after buying an additional 100 shares in the last quarter. JNBA Financial Advisors boosted its holdings in PNC Financial Services Group by 17.2% in the 1st quarter. JNBA Financial Advisors now owns 682 shares of the financial services provider’s stock worth $65,000 after buying an additional 100 shares during the period. Anderson Hoagland & Co. grew its stake in PNC Financial Services Group by 0.9% in the 2nd quarter. Anderson Hoagland & Co. now owns 11,475 shares of the financial services provider’s stock valued at $1,207,000 after buying an additional 100 shares in the last quarter. Finally, Piedmont Investment Advisors Inc. raised its holdings in PNC Financial Services Group by 1.2% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 8,388 shares of the financial services provider’s stock valued at $803,000 after acquiring an additional 102 shares during the period. 80.49% of the stock is owned by institutional investors.

Shares of PNC Financial Services Group stock opened at $106.67 on Friday. The firm has a market capitalization of $45.26 billion, a PE ratio of 6.56, a price-to-earnings-growth ratio of 4.15 and a beta of 1.29. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.89. PNC Financial Services Group Inc has a 12 month low of $79.41 and a 12 month high of $161.79. The business’s 50-day moving average price is $105.18 and its 200-day moving average price is $116.06.

PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Wednesday, July 15th. The financial services provider reported ($1.90) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($2.78). The firm had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.08 billion. PNC Financial Services Group had a return on equity of 5.78% and a net margin of 35.52%. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.88 EPS. As a group, analysts predict that PNC Financial Services Group Inc will post 3.67 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Friday, July 17th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 4.31%. The ex-dividend date of this dividend is Thursday, July 16th. PNC Financial Services Group’s dividend payout ratio is currently 40.39%.

Several equities analysts have recently weighed in on PNC shares. Morgan Stanley lifted their price target on PNC Financial Services Group from $98.00 to $109.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 24th. Compass Point upped their price target on PNC Financial Services Group from $104.00 to $109.00 and gave the company a “neutral” rating in a research report on Wednesday, May 13th. Wolfe Research assumed coverage on shares of PNC Financial Services Group in a research report on Friday. They issued an “underperform” rating for the company. Bank of America reduced their price objective on shares of PNC Financial Services Group from $138.00 to $123.00 and set a “buy” rating for the company in a research note on Friday, July 10th. Finally, Nomura Securities raised shares of PNC Financial Services Group from a “neutral” rating to a “buy” rating and raised their price target for the company from $95.00 to $114.00 in a report on Thursday, April 16th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. PNC Financial Services Group presently has an average rating of “Hold” and an average target price of $124.21.

In other PNC Financial Services Group news, Director Richard J. Harshman purchased 1,000 shares of the stock in a transaction on Friday, May 15th. The stock was acquired at an average cost of $97.55 per share, with a total value of $97,550.00. Following the completion of the purchase, the director now directly owns 1,150 shares of the company’s stock, valued at approximately $112,182.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.30% of the stock is owned by company insiders.

PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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