Traders Buy Shares of PNC Financial Services Group (PNC) on Weakness

Traders purchased shares of PNC Financial Services Group Inc (NYSE:PNC) on weakness during trading on Wednesday. $120.69 million flowed into the stock on the tick-up and $54.74 million flowed out of the stock on the tick-down, for a money net flow of $65.95 million into the stock. Of all stocks tracked, PNC Financial Services Group had the 15th highest net in-flow for the day. PNC Financial Services Group traded down ($0.07) for the day and closed at $137.68

A number of equities research analysts recently commented on the company. Bank of America upped their price objective on PNC Financial Services Group from $166.00 to $168.00 and gave the company a “buy” rating in a report on Friday, May 4th. Susquehanna Bancshares set a $147.00 price objective on PNC Financial Services Group and gave the company a “hold” rating in a report on Tuesday, April 10th. Nineteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. PNC Financial Services Group has an average rating of “Hold” and a consensus price target of $150.13.

The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 1.14. The company has a market cap of $65.16 billion, a PE ratio of 16.20, a PEG ratio of 1.31 and a beta of 0.91.

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

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 6th. Stockholders of record on Tuesday, July 17th will be given a dividend of $0.95 per share. This is a boost from PNC Financial Services Group’s previous quarterly dividend of $0.75. This represents a $3.80 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Monday, July 16th. PNC Financial Services Group’s dividend payout ratio is currently 35.29%.

Several hedge funds have recently bought and sold shares of the company. Stelac Advisory Services LLC acquired a new position in PNC Financial Services Group during the first quarter valued at approximately $102,000. Braun Bostich & Associates Inc. acquired a new position in PNC Financial Services Group during the first quarter valued at approximately $105,000. McKinley Carter Wealth Services Inc. acquired a new position in PNC Financial Services Group during the first quarter valued at approximately $150,000. Avestar Capital LLC acquired a new position in PNC Financial Services Group during the fourth quarter valued at approximately $177,000. Finally, CNB Bank acquired a new position in PNC Financial Services Group during the fourth quarter valued at approximately $181,000. 81.06% of the stock is owned by institutional investors.

About PNC Financial Services Group

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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