Rayburn West Financial Services LLC Invests $3.73 Million in The PNC Financial Services Group, Inc $PNC

Key Points

• Rayburn West Financial Services LLC opened a new position in PNC during the fourth quarter, buying 17,848 shares worth about $3.73 million. The stake makes up roughly 2.3% of its portfolio.
• PNC reported strong quarterly earnings on April 15, posting $4.32 EPS versus $3.92 expected and revenue growth of 13.1% year over year. Despite the beat, the stock was down about 2.5% in Thursday trading.
• The company also paid a quarterly dividend of $1.70 per share, equal to an annualized yield of 3.2%. Meanwhile, analysts remain broadly positive, with a consensus rating of Moderate Buy and a price target of $243.11.

Rayburn West Financial Services LLC bought a new position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 17,848 shares of the financial services provider's stock, valued at approximately $3,725,000. The PNC Financial Services Group comprises about 2.3% of Rayburn West Financial Services LLC's investment portfolio, making the stock its 14th biggest holding.

Several other large investors have also made changes to their positions in the company. YANKCOM Partnership grew its holdings in shares of The PNC Financial Services Group by 1.8% in the 4th quarter. YANKCOM Partnership now owns 2,583 shares of the financial services provider's stock worth $539,000 after purchasing an additional 46 shares during the last quarter. Westfuller Advisors LLC grew its holdings in shares of The PNC Financial Services Group by 26.9% in the 4th quarter. Westfuller Advisors LLC now owns 217 shares of the financial services provider's stock worth $45,000 after purchasing an additional 46 shares during the last quarter. Almanack Investment Partners LLC. grew its holdings in shares of The PNC Financial Services Group by 2.2% in the 4th quarter. Almanack Investment Partners LLC. now owns 2,349 shares of the financial services provider's stock worth $490,000 after purchasing an additional 50 shares during the last quarter. North Star Investment Management Corp. grew its holdings in shares of The PNC Financial Services Group by 1.1% in the 4th quarter. North Star Investment Management Corp. now owns 4,784 shares of the financial services provider's stock worth $999,000 after purchasing an additional 50 shares during the last quarter. Finally, PUREfi Wealth LLC grew its holdings in shares of The PNC Financial Services Group by 2.4% in the 4th quarter. PUREfi Wealth LLC now owns 2,305 shares of the financial services provider's stock worth $481,000 after purchasing an additional 53 shares during the last quarter. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Stock Down 2.5%

Shares of NYSE PNC opened at $209.80 on Thursday. The firm's 50-day simple moving average is $213.47 and its 200 day simple moving average is $210.36. The company has a market cap of $84.25 billion, a price-to-earnings ratio of 12.19, a price-to-earnings-growth ratio of 0.89 and a beta of 0.94. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05. The PNC Financial Services Group, Inc has a 12-month low of $169.32 and a 12-month high of $243.94.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.92 by $0.40. The business had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.21 billion. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The firm's quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.51 EPS. On average, research analysts expect that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were given a dividend of $1.70 per share. The ex-dividend date was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.2%. The PNC Financial Services Group's dividend payout ratio is presently 39.51%.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 50,000 shares of the company's stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $230.88, for a total transaction of $11,544,000.00. Following the transaction, the chief executive officer directly owned 554,274 shares in the company, valued at approximately $127,970,781.12. This represents a 8.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Richard Kevin Bynum sold 7,407 shares of the company's stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $230.98, for a total transaction of $1,710,868.86. Following the transaction, the executive vice president owned 1,942 shares in the company, valued at approximately $448,563.16. The trade was a 79.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 64,186 shares of company stock valued at $14,840,973. 0.38% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PNC has been the topic of several analyst reports. Jefferies Financial Group initiated coverage on shares of The PNC Financial Services Group in a report on Thursday, March 26th. They issued a "buy" rating and a $250.00 target price on the stock. Wells Fargo & Company upped their target price on shares of The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an "overweight" rating in a report on Tuesday, January 20th. Bank of America upped their price target on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a "buy" rating in a research report on Thursday, April 16th. Citigroup upped their price target on shares of The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Finally, Morgan Stanley upped their price target on shares of The PNC Financial Services Group from $263.00 to $267.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $243.11.

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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