Bryn Mawr Capital Management LLC Raises Stake in The PNC Financial Services Group, Inc (NYSE:PNC)

Bryn Mawr Capital Management LLC grew its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 28.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 2,817 shares of the financial services provider’s stock after acquiring an additional 624 shares during the period. Bryn Mawr Capital Management LLC’s holdings in The PNC Financial Services Group were worth $495,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in PNC. Cornerstone Planning Group LLC boosted its position in shares of The PNC Financial Services Group by 50.8% in 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 in the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of The PNC Financial Services Group in the 1st quarter worth about $35,000. REAP Financial Group LLC boosted its position in shares of The PNC Financial Services Group by 67.2% in the 4th quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider’s stock worth $38,000 after buying an additional 80 shares in the last quarter. Hoey Investments Inc. purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter worth about $39,000. Finally, True Wealth Design LLC boosted its position in shares of The PNC Financial Services Group by 41.5% in the 4th quarter. True Wealth Design LLC now owns 201 shares of the financial services provider’s stock worth $39,000 after buying an additional 59 shares in the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Trading Up 0.9%

Shares of NYSE PNC opened at $193.93 on Thursday. The firm has a market capitalization of $76.71 billion, a PE ratio of 13.70, a PEG ratio of 1.52 and a beta of 1.07. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.08. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26. The business has a 50-day moving average price of $181.20 and a two-hundred day moving average price of $180.24.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.56 by $0.29. The business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $5.61 billion. The PNC Financial Services Group had a return on equity of 10.95% and a net margin of 17.68%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company earned $3.39 EPS. As a group, analysts predict that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.51%. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.60. The ex-dividend date is Tuesday, July 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 48.02%.

Analyst Ratings Changes

Several equities research analysts recently commented on PNC shares. Wolfe Research reiterated a “peer perform” rating on shares of The PNC Financial Services Group in a research report on Thursday, July 3rd. Royal Bank Of Canada decreased their price objective on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 16th. TD Cowen started coverage on shares of The PNC Financial Services Group in a research report on Thursday, May 15th. They issued a “buy” rating and a $233.00 price objective on the stock. Hsbc Global Res upgraded shares of The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 31st. Finally, Barclays cut their target price on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and an average target price of $209.11.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Martin Pfinsgraff purchased 1,000 shares of the company’s stock in a transaction on Friday, April 25th. The shares were bought at an average cost of $158.22 per share, with a total value of $158,220.00. Following the transaction, the director directly owned 2,009 shares in the company, valued at approximately $317,863.98. This represents a 99.11% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $169.75, for a total value of $210,829.50. Following the completion of the transaction, the chief executive officer directly owned 554,879 shares in the company, valued at approximately $94,190,710.25. This represents a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,545 shares of company stock valued at $1,590,080. Corporate insiders own 0.41% of the company’s stock.

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.