Cambiar Investors LLC Purchases New Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Cambiar Investors LLC purchased a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 240,967 shares of the financial services provider's stock, valued at approximately $37,314,000. The PNC Financial Services Group comprises 1.5% of Cambiar Investors LLC's holdings, making the stock its 27th biggest holding. Cambiar Investors LLC owned approximately 0.06% of The PNC Financial Services Group at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Meeder Advisory Services Inc. increased its position in The PNC Financial Services Group by 7.2% during the fourth quarter. Meeder Advisory Services Inc. now owns 6,817 shares of the financial services provider's stock worth $1,056,000 after buying an additional 458 shares during the last quarter. Raub Brock Capital Management LP acquired a new position in The PNC Financial Services Group during the fourth quarter worth approximately $373,000. Nisa Investment Advisors LLC increased its position in The PNC Financial Services Group by 1.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 168,690 shares of the financial services provider's stock worth $26,122,000 after buying an additional 2,609 shares during the last quarter. RKL Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter worth approximately $537,000. Finally, Bank of Stockton boosted its holdings in shares of The PNC Financial Services Group by 37.2% during the fourth quarter. Bank of Stockton now owns 3,567 shares of the financial services provider's stock worth $538,000 after acquiring an additional 967 shares during the period. Institutional investors and hedge funds own 83.53% of the company's stock.

Wall Street Analyst Weigh In

PNC has been the subject of a number of research analyst reports. Wells Fargo & Company boosted 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. Morgan Stanley boosted their price objective on The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an "underweight" rating in a report on Tuesday, January 30th. UBS Group boosted their price objective on The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a "neutral" rating in a report on Thursday, January 18th. HSBC upgraded The PNC Financial Services Group from a "reduce" rating to a "hold" rating and boosted their price objective for the stock from $141.00 to $155.00 in a report on Thursday, March 28th. Finally, Keefe, Bruyette & Woods boosted their price target on The PNC Financial Services Group from $145.00 to $152.00 and gave the company an "underperform" rating in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $154.62.

Insider Activity at The PNC Financial Services Group

In related news, EVP Michael J. Hannon sold 3,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the sale, the executive vice president now directly owns 36,570 shares in the company, valued at $5,442,347.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC traded up $0.49 during trading on Friday, hitting $157.37. 1,873,955 shares of the company were exchanged, compared to its average volume of 1,681,124. The business's 50 day moving average is $151.21 and its 200-day moving average is $140.06. The company has a market capitalization of $62.60 billion, a P/E ratio of 12.30, a price-to-earnings-growth ratio of 1.81 and a beta of 1.18. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.42. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $162.24.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $1.04. The company had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.30 billion. The PNC Financial Services Group had a net margin of 17.50% and a return on equity of 12.27%. The company's revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $3.49 earnings per share. Equities analysts forecast that The PNC Financial Services Group, Inc. will post 12.46 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be issued a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.94%. The PNC Financial Services Group's payout ratio is 48.48%.

The PNC Financial Services Group Company Profile

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.