PNC Financial Services Group Inc (PNC) Shares Bought by Synovus Financial Corp

Synovus Financial Corp raised its stake in PNC Financial Services Group Inc (NYSE:PNC) by 10.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,466 shares of the financial services provider’s stock after purchasing an additional 901 shares during the quarter. Synovus Financial Corp’s holdings in PNC Financial Services Group were worth $1,277,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Quadrant Capital Group LLC boosted its holdings in shares of PNC Financial Services Group by 0.3% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,417 shares of the financial services provider’s stock valued at $137,000 after purchasing an additional 4 shares during the last quarter. Hudock Capital Group LLC lifted its holdings in shares of PNC Financial Services Group by 0.4% during the 2nd quarter. Hudock Capital Group LLC now owns 2,692 shares of the financial services provider’s stock valued at $336,000 after acquiring an additional 11 shares in the last quarter. Telemus Capital LLC lifted its holdings in shares of PNC Financial Services Group by 0.3% during the 2nd quarter. Telemus Capital LLC now owns 4,981 shares of the financial services provider’s stock valued at $622,000 after acquiring an additional 16 shares in the last quarter. Green Square Capital LLC lifted its holdings in shares of PNC Financial Services Group by 0.4% during the 2nd quarter. Green Square Capital LLC now owns 4,147 shares of the financial services provider’s stock valued at $518,000 after acquiring an additional 18 shares in the last quarter. Finally, Abner Herrman & Brock LLC lifted its holdings in shares of PNC Financial Services Group by 0.7% during the 2nd quarter. Abner Herrman & Brock LLC now owns 2,899 shares of the financial services provider’s stock valued at $362,000 after acquiring an additional 20 shares in the last quarter. Institutional investors own 81.57% of the company’s stock.

Several equities analysts recently weighed in on PNC shares. Zacks Investment Research upgraded shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a report on Tuesday, September 5th. Robert W. Baird restated a “buy” rating and set a $135.00 target price on shares of PNC Financial Services Group in a report on Monday, August 28th. Piper Jaffray Companies restated a “buy” rating and set a $134.00 target price on shares of PNC Financial Services Group in a report on Sunday, August 27th. Royal Bank Of Canada restated a “buy” rating on shares of PNC Financial Services Group in a report on Monday, October 16th. Finally, Stephens lowered shares of PNC Financial Services Group from an “overweight” rating to an “equal weight” rating in a report on Thursday, October 5th. They noted that the move was a valuation call. Sixteen equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $136.13.

In other news, insider Karen L. Larrimer sold 3,135 shares of the business’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $136.98, for a total value of $429,432.30. Following the completion of the sale, the insider now owns 20,449 shares of the company’s stock, valued at approximately $2,801,104.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Wyk Steven C. Van sold 5,000 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $140.98, for a total transaction of $704,900.00. The disclosure for this sale can be found here. Insiders sold a total of 42,640 shares of company stock worth $5,901,852 in the last quarter. 0.43% of the stock is currently owned by company insiders.

Shares of PNC Financial Services Group Inc (NYSE:PNC) traded up $0.58 during mid-day trading on Thursday, reaching $143.01. 1,554,700 shares of the company’s stock were exchanged, compared to its average volume of 2,197,134. PNC Financial Services Group Inc has a 52-week low of $110.97 and a 52-week high of $145.66. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market cap of $67,768.34, a price-to-earnings ratio of 17.39, a P/E/G ratio of 1.90 and a beta of 0.90.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Friday, October 13th. The financial services provider reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.03. PNC Financial Services Group had a net margin of 24.61% and a return on equity of 9.29%. The firm had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.09 billion. During the same quarter in the previous year, the business posted $1.84 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. research analysts predict that PNC Financial Services Group Inc will post 8.44 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: “PNC Financial Services Group Inc (PNC) Shares Bought by Synovus Financial Corp” was originally published by Community Financial News and is the sole property of of Community Financial News. If you are reading this report on another publication, it was copied illegally and republished in violation of international copyright and trademark laws. The legal version of this report can be viewed at https://www.com-unik.info/2017/12/07/pnc-financial-services-group-inc-pnc-shares-bought-by-synovus-financial-corp.html.

PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

What are top analysts saying about PNC Financial Services Group Inc? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for PNC Financial Services Group Inc and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit