Home Federal Bank of Tennessee Buys Shares of 1,285 The PNC Financial Services Group, Inc. (NYSE:PNC)

Home Federal Bank of Tennessee bought a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) during the 1st quarter, Holdings Channel reports. The fund bought 1,285 shares of the financial services provider’s stock, valued at approximately $208,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Steph & Co. increased its holdings in shares of The PNC Financial Services Group by 1.8% in the fourth quarter. Steph & Co. now owns 3,720 shares of the financial services provider’s stock worth $576,000 after acquiring an additional 67 shares in the last quarter. Bangor Savings Bank increased its holdings in shares of The PNC Financial Services Group by 1.2% in the fourth 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 in the last quarter. Triangle Securities Wealth Management increased its holdings in shares of The PNC Financial Services Group by 1.8% in the first quarter. Triangle Securities Wealth Management now owns 4,019 shares of the financial services provider’s stock worth $649,000 after acquiring an additional 70 shares in the last quarter. Cooper Financial Group increased its holdings in shares of The PNC Financial Services Group by 1.7% in the first quarter. Cooper Financial Group now owns 4,241 shares of the financial services provider’s stock worth $685,000 after acquiring an additional 70 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC increased its holdings in shares of The PNC Financial Services Group by 1.5% in the first quarter. Wealthcare Advisory Partners LLC now owns 4,972 shares of the financial services provider’s stock worth $804,000 after acquiring an additional 74 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. lowered their price target on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Bank of America increased their price objective on The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. Wells Fargo & Company increased their price objective on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, The Goldman Sachs Group increased their price objective 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. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $158.43.

The PNC Financial Services Group Stock Performance

Shares of PNC traded up $3.55 during mid-day trading on Friday, reaching $155.48. The company’s stock had a trading volume of 2,706,290 shares, compared to its average volume of 1,482,709. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $162.24. The stock has a market cap of $61.87 billion, a P/E ratio of 13.05, a PEG ratio of 2.22 and a beta of 1.16. The business has a 50-day simple moving average of $155.18 and a two-hundred day simple moving average of $152.91. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data 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 return on equity of 11.64% and a net margin of 16.05%. The company had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same period last year, the firm posted $3.98 earnings per share. The business’s revenue was down 8.2% on a year-over-year basis. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 12.63 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

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 dividend of $1.55 per share. The ex-dividend date of this dividend was Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.99%. The PNC Financial Services Group’s payout ratio is currently 52.06%.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Richard Kevin Bynum sold 850 shares of The PNC Financial Services Group stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the completion of the transaction, the executive vice president now directly owns 3,502 shares of the company’s stock, valued at $545,856.74. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by insiders.

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.