Czech National Bank Acquires 4,301 Shares of The PNC Financial Services Group, Inc $PNC

Czech National Bank lifted its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 3.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,301 shares of the financial services provider’s stock after purchasing an additional 4,301 shares during the quarter. Czech National Bank’s holdings in The PNC Financial Services Group were worth $28,143,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Monetary Solutions Ltd purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $25,000. Quarry LP purchased a new stake in The PNC Financial Services Group during the third quarter valued at about $25,000. Modus Advisors LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at about $29,000. Financial Life Planners bought a new stake in The PNC Financial Services Group during the first quarter worth about $31,000. Finally, Wilkerson Advisory Group LLC lifted its stake in The PNC Financial Services Group by 93.4% during the first quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 71 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on The PNC Financial Services Group from $264.50 to $269.50 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Barclays upped their target price on The PNC Financial Services Group from $277.00 to $284.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Stephens increased their price target on shares of The PNC Financial Services Group from $265.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Royal Bank Of Canada lifted their price target on shares of The PNC Financial Services Group from $235.00 to $273.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. Finally, Oppenheimer boosted their price objective on shares of The PNC Financial Services Group from $271.00 to $281.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the stock. Based on 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 Trading Down 0.2%

Shares of PNC stock opened at $252.24 on Friday. The PNC Financial Services Group, Inc has a 1 year low of $176.88 and a 1 year high of $258.13. The firm has a fifty day moving average price of $243.50 and a 200-day moving average price of $227.32. 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 company has a market cap of $100.63 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 1.00 and a beta of 0.91.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $4.85 EPS for the quarter, topping analysts’ consensus estimates of $4.46 by $0.39. The business had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.51 billion. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The business’s quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.85 earnings per share. As a group, equities analysts predict that The PNC Financial Services Group, Inc will post 19.25 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Monday, July 20th. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The PNC Financial Services Group’s payout ratio is 44.03%.

Insider Activity

In related news, Director Andrew T. Feldstein sold 45,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the completion of the transaction, the director owned 10,749 shares in the company, valued at approximately $2,370,906.93. This represents a 80.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Duane Thomas sold 1,500 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $238.14, for a total transaction of $357,210.00. Following the transaction, the executive vice president directly owned 5,059 shares of the company’s stock, valued at $1,204,750.26. The trade was a 22.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 48,300 shares of company stock worth $10,694,574 in the last three months. Company insiders own 0.38% of the company’s stock.

The PNC Financial Services Group 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.