J.W. Cole Advisors Inc. Buys 102 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

J.W. Cole Advisors Inc. increased its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,912 shares of the financial services provider’s stock after buying an additional 102 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in The PNC Financial Services Group were worth $794,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of PNC. Steph & Co. grew its position in The PNC Financial Services Group by 1.8% in the 4th quarter. Steph & Co. now owns 3,720 shares of the financial services provider’s stock worth $576,000 after purchasing an additional 67 shares in the last quarter. Bangor Savings Bank grew its holdings in shares of The PNC Financial Services Group by 1.2% in the fourth quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock valued at $888,000 after acquiring an additional 69 shares in the last quarter. Triangle Securities Wealth Management increased its position in shares of The PNC Financial Services Group by 1.8% during the first quarter. Triangle Securities Wealth Management now owns 4,019 shares of the financial services provider’s stock valued at $649,000 after acquiring an additional 70 shares during the last quarter. Cooper Financial Group increased its position in shares of The PNC Financial Services Group by 1.7% during the first quarter. Cooper Financial Group now owns 4,241 shares of the financial services provider’s stock valued at $685,000 after acquiring an additional 70 shares during the last quarter. Finally, Berkshire Bank lifted its holdings in The PNC Financial Services Group by 2.0% during the first quarter. Berkshire Bank now owns 3,562 shares of the financial services provider’s stock worth $576,000 after acquiring an additional 71 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on PNC. Bank of America raised their target price on The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. StockNews.com raised shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and lifted their target price for the stock from $141.00 to $155.00 in a research note on Thursday, March 28th. Jefferies Financial Group raised their price objective on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, The Goldman Sachs Group boosted their target price on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and a consensus target price of $158.56.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock traded down $1.28 on Friday, hitting $156.51. 967,688 shares of the company traded hands, compared to its average volume of 1,878,067. The firm’s 50-day simple moving average is $155.24 and its 200 day simple moving average is $153.09. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $162.24. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42. The company has a market cap of $62.28 billion, a P/E ratio of 13.14, a P/E/G ratio of 2.25 and a beta of 1.15.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating the consensus estimate of $3.09 by $0.01. The firm had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The company’s revenue was down 8.2% on a year-over-year basis. During the same period in the prior year, the company earned $3.98 EPS. Analysts expect that The PNC Financial Services Group, Inc. will post 12.65 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Monday, July 15th will be issued a dividend of $1.60 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.40 annualized dividend and a dividend yield of 4.09%. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 52.06%.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 641 shares of the stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $153.08, for a total transaction of $98,124.28. Following the completion of the sale, the chief executive officer now directly owns 567,682 shares in the company, valued at approximately $86,900,760.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the transaction, the executive vice president now owns 3,502 shares in the company, valued at $545,856.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $153.08, for a total transaction of $98,124.28. Following the transaction, the chief executive officer now directly owns 567,682 shares of the company’s stock, valued at $86,900,760.56. The disclosure for this sale can be found here. Insiders have sold a total of 2,132 shares of company stock worth $328,809 in the last 90 days. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group 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.