Cypress Asset Management Inc. TX Takes Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Cypress Asset Management Inc. TX acquired a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 1,400 shares of the financial services provider’s stock, valued at approximately $217,000.

Other hedge funds also recently made changes to their positions in the company. Steph & Co. increased its stake in shares of The PNC Financial Services Group by 1.8% in the 4th quarter. Steph & Co. now owns 3,720 shares of the financial services provider’s stock valued at $576,000 after purchasing an additional 67 shares during the last quarter. Bangor Savings Bank grew its position in The PNC Financial Services Group by 1.2% during the 4th quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock worth $888,000 after acquiring an additional 69 shares during the last quarter. Oakworth Capital Inc. grew its position in The PNC Financial Services Group by 11.7% during the 4th quarter. Oakworth Capital Inc. now owns 715 shares of the financial services provider’s stock worth $111,000 after acquiring an additional 75 shares during the last quarter. Caprock Group LLC grew its position in The PNC Financial Services Group by 0.9% during the 4th quarter. Caprock Group LLC now owns 8,574 shares of the financial services provider’s stock worth $1,328,000 after acquiring an additional 79 shares during the last quarter. Finally, RMR Wealth Builders grew its position in The PNC Financial Services Group by 1.2% during the 4th quarter. RMR Wealth Builders now owns 6,561 shares of the financial services provider’s stock worth $1,016,000 after acquiring an additional 79 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Trading Up 0.3 %

Shares of NYSE:PNC traded up $0.49 during midday trading on Friday, reaching $153.26. The company’s stock had a trading volume of 912,628 shares, compared to its average volume of 1,947,537. The firm has a 50 day moving average price of $155.84 and a two-hundred day moving average price of $148.62. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $162.24. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $60.98 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 3.02 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The business had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the prior year, the business earned $3.98 EPS. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. As a group, analysts forecast that The PNC Financial Services Group, Inc. will post 12.63 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Monday, April 15th were paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 52.06%.

Analyst Ratings Changes

A number of brokerages recently weighed in on PNC. Morgan Stanley boosted their price objective on The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 30th. HSBC raised The PNC Financial Services Group from a “reduce” rating to a “hold” rating and lifted their target price for the stock from $141.00 to $155.00 in a report on Thursday, March 28th. The Goldman Sachs Group lifted their target price on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. JPMorgan Chase & Co. cut their target price on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Finally, StockNews.com downgraded The PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Tuesday. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $157.02.

Insider Buying and Selling

In related news, EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total transaction of $132,489.50. Following the transaction, the executive vice president now directly owns 3,502 shares of the company’s stock, valued at approximately $545,856.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.42% of the stock is owned by company insiders.

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.