Applied Finance Capital Management LLC Purchases 6,195 Shares of The PNC Financial Services Group, Inc $PNC

Key Points

• Applied Finance Capital Management LLC increased its stake in The PNC Financial Services Group by 131.1%, acquiring an additional 6,195 shares, bringing its total holdings to 10,920 shares worth approximately $2,036,000.
• The PNC Financial Services Group reported a quarterly earnings per share (EPS) of $4.35, beating analysts' estimates of $4.05 and showing an 8.9% increase in revenue year-over-year.
• The company declared a quarterly dividend of $1.70 per share, which will be paid on November 5th, representing an annualized yield of 3.8%.

Applied Finance Capital Management LLC increased its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 131.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,920 shares of the financial services provider's stock after acquiring an additional 6,195 shares during the quarter. Applied Finance Capital Management LLC's holdings in The PNC Financial Services Group were worth $2,036,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC increased its stake in shares of The PNC Financial Services Group by 32.2% in the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider's stock worth $779,000 after purchasing an additional 984 shares in the last quarter. GAMMA Investing LLC boosted its holdings in The PNC Financial Services Group by 10.3% in the 1st quarter. GAMMA Investing LLC now owns 6,537 shares of the financial services provider's stock worth $1,149,000 after buying an additional 608 shares during the period. Exchange Traded Concepts LLC grew its stake in The PNC Financial Services Group by 221.2% in the 1st quarter. Exchange Traded Concepts LLC now owns 1,333 shares of the financial services provider's stock valued at $234,000 after buying an additional 918 shares in the last quarter. Sowell Financial Services LLC purchased a new position in The PNC Financial Services Group in the 1st quarter valued at approximately $582,000. Finally, Inscription Capital LLC bought a new stake in The PNC Financial Services Group during the 1st quarter valued at $271,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wolfe Research reaffirmed a "peer perform" rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. Stephens reissued an "equal weight" rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday, September 10th. Wall Street Zen raised The PNC Financial Services Group from a "sell" rating to a "hold" rating in a report on Friday, July 18th. The Goldman Sachs Group upped their price target on The PNC Financial Services Group from $178.00 to $196.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of The PNC Financial Services Group in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $218.47.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $178.18 on Friday. The stock's 50-day simple moving average is $198.30 and its two-hundred day simple moving average is $183.78. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $216.26. The firm has a market capitalization of $70.17 billion, a P/E ratio of 11.51, a P/E/G ratio of 1.27 and a beta of 1.10. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.06.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.05 by $0.30. The firm had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.82 billion. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The company's revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter last year, the company posted $3.49 EPS. As a group, equities analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Tuesday, October 14th. The PNC Financial Services Group's payout ratio is currently 46.51%.

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.

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