Faithward Advisors LLC Grows Stake in The PNC Financial Services Group, Inc $PNC

Key Points

• Faithward Advisors LLC increased its stake in The PNC Financial Services Group by 187.2% in the first quarter, buying 9,225 additional shares and bringing its total holding to 14,152 shares worth about $2.95 million.
• Analysts remain broadly positive on PNC, with several firms raising price targets and the stock carrying a Moderate Buy consensus rating. The average price target is $246.72.
• PNC posted solid quarterly results, with EPS of $4.32 beating estimates and revenue up 13.1% year over year, while the company also paid a quarterly dividend of $1.70 per share.

Faithward Advisors LLC boosted its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 187.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 14,152 shares of the financial services provider's stock after purchasing an additional 9,225 shares during the quarter. Faithward Advisors LLC's holdings in The PNC Financial Services Group were worth $2,945,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. CENTRAL TRUST Co boosted its position in shares of The PNC Financial Services Group by 1.2% during the first quarter. CENTRAL TRUST Co now owns 13,491 shares of the financial services provider's stock valued at $2,807,000 after buying an additional 157 shares during the last quarter. Cidel Asset Management Inc. raised its position in The PNC Financial Services Group by 16.7% in the 1st quarter. Cidel Asset Management Inc. now owns 3,401 shares of the financial services provider's stock worth $708,000 after buying an additional 486 shares during the last quarter. Bar Harbor Wealth Management raised its position in The PNC Financial Services Group by 2.4% in the 1st quarter. Bar Harbor Wealth Management now owns 2,726 shares of the financial services provider's stock worth $567,000 after buying an additional 63 shares during the last quarter. HHM Wealth Advisors LLC lifted its stake in The PNC Financial Services Group by 37.2% during the 1st quarter. HHM Wealth Advisors LLC now owns 339 shares of the financial services provider's stock valued at $71,000 after acquiring an additional 92 shares during the period. Finally, Krilogy Financial LLC boosted its holdings in shares of The PNC Financial Services Group by 12.5% during the 1st quarter. Krilogy Financial LLC now owns 15,398 shares of the financial services provider's stock valued at $3,389,000 after acquiring an additional 1,710 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PNC has been the subject of a number of research analyst reports. Stephens began coverage on shares of The PNC Financial Services Group in a research note on Monday, June 15th. They issued an "overweight" rating and a $265.00 price target for the company. Citigroup raised their target price on shares of The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Jefferies Financial Group assumed coverage on shares of The PNC Financial Services Group in a research report on Thursday, March 26th. They issued a "buy" rating and a $250.00 target price for the company. Barclays increased their price target on The PNC Financial Services Group from $271.00 to $277.00 and gave the company an "overweight" rating in a report on Thursday, April 16th. Finally, Bank of America raised their price target on The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $246.72.

Insider Activity

In other The PNC Financial Services Group news, EVP Stephanie Novosel sold 1,800 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $228.73, for a total transaction of $411,714.00. Following the sale, the executive vice president owned 3,107 shares in the company, valued at approximately $710,664.11. This trade represents a 36.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the transaction, the director directly owned 10,749 shares in the company, valued at $2,370,906.93. This represents a 80.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 48,300 shares of company stock valued at $10,694,574 in the last ninety days. Corporate insiders own 0.38% of the company's stock.

The PNC Financial Services Group Trading Up 1.8%

NYSE:PNC opened at $238.83 on Wednesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a market capitalization of $95.91 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 0.96 and a beta of 0.92. The PNC Financial Services Group, Inc has a one year low of $176.88 and a one year high of $243.94. The business has a fifty day moving average price of $223.26 and a 200-day moving average price of $218.31.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, topping analysts' consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The company had revenue of $6.17 billion for the quarter, compared to analysts' expectations of $6.21 billion. During the same period last year, the firm earned $3.51 EPS. The PNC Financial Services Group's revenue for the quarter was up 13.1% compared to the same quarter last year. Sell-side analysts forecast that The PNC Financial Services Group, Inc will post 18.81 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Tuesday, April 14th. The PNC Financial Services Group's payout ratio is presently 39.51%.

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.

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