NBH Bank Invests $629,000 in The PNC Financial Services Group, Inc $PNC

NBH Bank purchased a new position in The PNC Financial Services Group, Inc (NYSE:PNC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,556 shares of the financial services provider’s stock, valued at approximately $629,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PNC. Quarry LP purchased a new position in shares of The PNC Financial Services Group during the third quarter worth approximately $25,000. Monetary Solutions Ltd purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $25,000. Highland Investment Advisors LLC purchased a new stake in shares of The PNC Financial Services Group in the second quarter valued at approximately $27,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in The PNC Financial Services Group in the second quarter worth approximately $28,000. Finally, Modus Advisors LLC bought a new position in The PNC Financial Services Group in the fourth quarter worth approximately $29,000. Institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

PNC has been the subject of a number of research analyst reports. Barclays lifted their target price on The PNC Financial Services Group from $277.00 to $284.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. JPMorgan Chase & Co. increased their price target on The PNC Financial Services Group from $264.50 to $269.50 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. UBS Group raised their price target on The PNC Financial Services Group from $263.00 to $288.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Oppenheimer lifted their price objective on 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. Finally, Argus upped their price objective on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $265.73.

The PNC Financial Services Group Price Performance

PNC opened at $245.64 on Friday. The business’s 50-day moving average is $249.54 and its two-hundred day moving average is $229.85. The PNC Financial Services Group, Inc has a 1 year low of $176.88 and a 1 year high of $258.96. 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 firm has a market capitalization of $98.00 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 1.22 and a beta of 0.90.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $4.85 EPS for the quarter, beating the consensus estimate of $4.46 by $0.39. The PNC Financial Services Group had a net margin of 21.41% and a return on equity of 12.48%. The business had revenue of $6.88 billion during the quarter, compared to analyst estimates of $6.51 billion. During the same period in the prior year, the firm posted $3.85 earnings per share. The company’s quarterly revenue was up 21.4% on a year-over-year basis. Research analysts anticipate 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 declared a quarterly dividend, which was paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th were issued a $2.00 dividend. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.70. This represents a $8.00 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Monday, July 20th. The PNC Financial Services Group’s dividend payout ratio is presently 44.03%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Michael Thomas sold 1,500 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $238.14, for a total value of $357,210.00. Following the completion of the sale, the executive vice president owned 5,059 shares of the company’s stock, valued at approximately $1,204,750.26. This trade represents a 22.87% 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 the SEC website. Also, EVP Stacy Juchno sold 3,354 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 18,800 shares of the company’s stock, valued at $4,809,792. This represents a 15.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate 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.