CCM Investment Advisers LLC Has $10.19 Million Stake in PNC Financial Services (PNC)

CCM Investment Advisers LLC lessened its position in PNC Financial Services (NYSE:PNC) by 0.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,358 shares of the financial services provider’s stock after selling 550 shares during the quarter. PNC Financial Services accounts for 2.0% of CCM Investment Advisers LLC’s portfolio, making the stock its 21st largest position. CCM Investment Advisers LLC’s holdings in PNC Financial Services were worth $10,187,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PNC. Community Bank N.A. lifted its holdings in PNC Financial Services by 75.8% during the 4th quarter. Community Bank N.A. now owns 5,975 shares of the financial services provider’s stock valued at $862,000 after buying an additional 2,576 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in PNC Financial Services by 37.1% during the 4th quarter. Lazard Asset Management LLC now owns 229,404 shares of the financial services provider’s stock valued at $33,100,000 after buying an additional 62,048 shares in the last quarter. Millennium Management LLC lifted its holdings in PNC Financial Services by 537.7% during the 4th quarter. Millennium Management LLC now owns 292,243 shares of the financial services provider’s stock valued at $42,168,000 after buying an additional 246,414 shares in the last quarter. Fragasso Group Inc. lifted its holdings in PNC Financial Services by 11.3% during the 4th quarter. Fragasso Group Inc. now owns 16,230 shares of the financial services provider’s stock valued at $2,342,000 after buying an additional 1,644 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in PNC Financial Services by 3.1% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 278,295 shares of the financial services provider’s stock valued at $40,155,000 after buying an additional 8,477 shares in the last quarter. Hedge funds and other institutional investors own 82.86% of the company’s stock.

Shares of PNC Financial Services stock opened at $150.65 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 1.14. PNC Financial Services has a 52-week low of $149.22 and a 52-week high of $150.73. The company has a market capitalization of $70.80 billion, a PE ratio of 17.72, a PEG ratio of 1.42 and a beta of 0.91.

PNC Financial Services (NYSE:PNC) last issued its quarterly earnings data on Friday, April 13th. The financial services provider reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.01. PNC Financial Services had a net margin of 29.85% and a return on equity of 9.82%. The firm had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter in the previous year, the firm earned $1.96 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. equities research analysts expect that PNC Financial Services will post 10.52 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Saturday, May 5th. Stockholders of record on Monday, April 16th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date was Friday, April 13th. PNC Financial Services’s payout ratio is currently 35.29%.

A number of equities research analysts recently weighed in on PNC shares. Bank of America lifted their price objective on shares of PNC Financial Services from $166.00 to $168.00 and gave the company a “buy” rating in a report on Friday, May 4th. BMO Capital Markets restated a “buy” rating on shares of PNC Financial Services in a report on Thursday, January 25th. Morgan Stanley boosted their price target on shares of PNC Financial Services from $165.00 to $168.00 and gave the company an “equal weight” rating in a report on Friday, February 2nd. Susquehanna Bancshares set a $147.00 price target on shares of PNC Financial Services and gave the company a “hold” rating in a report on Tuesday, April 10th. Finally, Zacks Investment Research lowered shares of PNC Financial Services from a “buy” rating to a “hold” rating in a report on Tuesday, February 27th. Nineteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $149.36.

About PNC Financial Services

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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

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