MCF Advisors LLC Buys 3,317 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

MCF Advisors LLC raised its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 98.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,702 shares of the financial services provider’s stock after acquiring an additional 3,317 shares during the period. MCF Advisors LLC’s holdings in The PNC Financial Services Group were worth $1,083,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. BKM Wealth Management LLC purchased a new position in The PNC Financial Services Group during the fourth quarter valued at approximately $26,000. Tennessee Valley Asset Management Partners bought a new position in The PNC Financial Services Group in the 4th quarter worth $26,000. Householder Group Estate & Retirement Specialist LLC increased its stake in The PNC Financial Services Group by 350.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after buying an additional 140 shares in the last quarter. Fortitude Family Office LLC purchased a new position in shares of The PNC Financial Services Group in the fourth quarter valued at about $28,000. Finally, Fortis Group Advisors LLC grew its position in shares of The PNC Financial Services Group by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction on Friday, June 21st. The stock was sold at an average price of $153.19, for a total transaction of $98,194.79. Following the completion of the sale, the chief executive officer now directly owns 568,323 shares of the company’s stock, valued at approximately $87,061,400.37. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $153.19, for a total value of $98,194.79. Following the completion of the sale, the chief executive officer now owns 568,323 shares in the company, valued at approximately $87,061,400.37. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Richard Kevin Bynum sold 850 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the transaction, the executive vice president now owns 3,502 shares in the company, valued at $545,856.74. The disclosure for this sale can be found here. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Trading Up 2.3 %

Shares of NYSE:PNC traded up $3.55 during trading hours on Friday, hitting $155.48. 2,706,290 shares of the company’s stock traded hands, compared to its average volume of 1,482,709. The business has a fifty day moving average price of $155.18 and a 200-day moving average price of $152.82. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $162.24. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $61.87 billion, a P/E ratio of 13.05, a price-to-earnings-growth ratio of 2.17 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The firm had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same period in the previous year, the firm earned $3.98 earnings per share. The business’s revenue was down 8.2% on a year-over-year basis. Equities analysts expect 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 issued a $1.55 dividend. The ex-dividend date was Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.99%. The PNC Financial Services Group’s payout ratio is 52.06%.

Analysts Set New Price Targets

A number of research analysts recently commented on PNC shares. JPMorgan Chase & Co. lowered their price target 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. StockNews.com raised shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their price objective for the company from $141.00 to $155.00 in a report on Thursday, March 28th. Jefferies Financial Group reduced their price objective on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a research note on Wednesday, April 17th. Finally, Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $152.00 target price on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $158.43.

About The PNC Financial Services Group

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.