The PNC Financial Services Group, Inc $PNC Shares Purchased by Hardy Reed LLC

Key Points

• Hardy Reed LLC increased its PNC stake by 82.3% in the fourth quarter, buying 5,263 additional shares and bringing its total holding to 11,660 shares worth about $2.43 million.
• PNC reported strong quarterly earnings of $4.32 per share, beating Wall Street expectations, while revenue rose 13.1% year over year to $6.17 billion. Analysts still see the company earning 18.93 EPS for the full fiscal year.
• The bank continues to return capital to shareholders, recently paying a $1.70 quarterly dividend that works out to an annualized yield of 3.2%. Meanwhile, analysts remain broadly positive, with a consensus rating of Moderate Buy and an average price target of $243.11.

Hardy Reed LLC boosted its stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 82.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 11,660 shares of the financial services provider's stock after purchasing an additional 5,263 shares during the period. Hardy Reed LLC's holdings in The PNC Financial Services Group were worth $2,434,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PNC. YANKCOM Partnership grew its stake in shares of The PNC Financial Services Group by 1.8% in the fourth quarter. YANKCOM Partnership now owns 2,583 shares of the financial services provider's stock worth $539,000 after acquiring an additional 46 shares in the last quarter. Westfuller Advisors LLC grew its stake in shares of The PNC Financial Services Group by 26.9% in the fourth quarter. Westfuller Advisors LLC now owns 217 shares of the financial services provider's stock worth $45,000 after acquiring an additional 46 shares in the last quarter. Flavin Financial Services Inc. grew its stake in shares of The PNC Financial Services Group by 0.4% in the fourth quarter. Flavin Financial Services Inc. now owns 13,641 shares of the financial services provider's stock worth $2,847,000 after acquiring an additional 48 shares in the last quarter. Almanack Investment Partners LLC. grew its stake in shares of The PNC Financial Services Group by 2.2% in the fourth quarter. Almanack Investment Partners LLC. now owns 2,349 shares of the financial services provider's stock worth $490,000 after acquiring an additional 50 shares in the last quarter. Finally, North Star Investment Management Corp. grew its stake in shares of The PNC Financial Services Group by 1.1% in the fourth quarter. North Star Investment Management Corp. now owns 4,784 shares of the financial services provider's stock worth $999,000 after acquiring an additional 50 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $213.24 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The firm has a fifty day moving average price of $213.63 and a 200 day moving average price of $211.19. The company has a market cap of $85.63 billion, a P/E ratio of 12.39, a PEG ratio of 0.89 and a beta of 0.94. 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 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 firm had revenue of $6.17 billion during 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 company's revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.51 earnings per share. Sell-side analysts predict that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were paid 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 dividend yield of 3.2%. The PNC Financial Services Group's payout ratio is presently 39.51%.

Insider Transactions 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 on Friday, February 20th. The shares were sold at an average price of $230.88, for a total value of $11,544,000.00. Following the completion of the transaction, the chief executive officer owned 554,274 shares in the company, valued at $127,970,781.12. This represents a 8.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.38% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on PNC. Weiss Ratings restated a "buy (b-)" rating on shares of The PNC Financial Services Group in a research note on Friday, March 27th. Citigroup boosted 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 note on Friday, May 8th. TD Cowen boosted their price target on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a "buy" rating in a research note on Tuesday, January 20th. Bank of America boosted 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 note on Thursday, April 16th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $235.00 price target on shares of The PNC Financial Services Group in a research note on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price 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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