Isthmus Partners LLC Has $14.29 Million Stock Holdings in The PNC Financial Services Group, Inc $PNC

Isthmus Partners LLC lowered its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 6.2% in the 1st quarter, HoldingsChannel reports. The firm owned 68,691 shares of the financial services provider’s stock after selling 4,560 shares during the period. The PNC Financial Services Group makes up approximately 1.5% of Isthmus Partners LLC’s holdings, making the stock its 21st largest holding. Isthmus Partners LLC’s holdings in The PNC Financial Services Group were worth $14,294,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of The PNC Financial Services Group by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider’s stock worth $8,114,168,000 after buying an additional 408,464 shares in the last quarter. State Street Corp increased its stake in shares of The PNC Financial Services Group by 0.4% in the 4th quarter. State Street Corp now owns 17,319,434 shares of the financial services provider’s stock valued at $3,615,085,000 after acquiring an additional 77,302 shares in the last quarter. Capital International Investors lifted its position in shares of The PNC Financial Services Group by 10.2% during the 4th quarter. Capital International Investors now owns 11,936,742 shares of the financial services provider’s stock valued at $2,491,819,000 after acquiring an additional 1,101,055 shares during the period. Norges Bank acquired a new position in shares of The PNC Financial Services Group during the 4th quarter valued at $1,967,080,000. Finally, Geode Capital Management LLC boosted its stake in The PNC Financial Services Group by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 8,861,852 shares of the financial services provider’s stock worth $1,841,387,000 after acquiring an additional 30,078 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Down 2.9%

The PNC Financial Services Group stock opened at $246.58 on Thursday. The PNC Financial Services Group, Inc has a 1-year low of $176.88 and a 1-year high of $256.00. The firm has a market capitalization of $99.02 billion, a price-to-earnings ratio of 14.33, a price-to-earnings-growth ratio of 1.04 and a beta of 0.91. The firm’s fifty day moving average price is $228.64 and its two-hundred day moving average price is $221.56. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, topping the consensus estimate of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The company had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.21 billion. During the same period in the previous year, the firm posted $3.51 earnings per share. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, equities research analysts predict that The PNC Financial Services Group, Inc will post 18.83 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th will be issued a $2.00 dividend. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.70. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Monday, July 20th. The PNC Financial Services Group’s dividend payout ratio is 39.51%.

Analysts Set New Price Targets

PNC has been the subject of a number of research reports. Royal Bank Of Canada restated an “outperform” rating and issued a $235.00 price target on shares of The PNC Financial Services Group in a report on Wednesday, April 15th. JPMorgan Chase & Co. increased their price objective on shares of The PNC Financial Services Group from $238.00 to $264.50 and gave the stock an “overweight” rating in a research report on Monday. Jefferies Financial Group assumed coverage on The PNC Financial Services Group in a research note on Thursday, March 26th. They issued a “buy” rating and a $250.00 target price for the company. Wells Fargo & Company boosted their target price on The PNC Financial Services Group from $264.00 to $270.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Stephens assumed coverage on The PNC Financial Services Group in a research note on Monday, June 15th. They set an “overweight” rating and a $265.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $258.09.

Insider Activity

In other The PNC Financial Services Group news, EVP Stephanie Novosel sold 1,800 shares of The PNC Financial Services Group stock in a transaction on Friday, June 5th. The shares were sold at an average price of $228.73, for a total transaction of $411,714.00. Following the transaction, the executive vice president directly owned 3,107 shares of the company’s stock, valued at $710,664.11. The trade was a 36.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew T. Feldstein sold 45,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the completion of the sale, the director owned 10,749 shares of the company’s stock, valued at approximately $2,370,906.93. The trade was a 80.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 48,300 shares of company stock worth $10,694,574 over the last 90 days. 0.38% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group News Roundup

Here are the key news stories impacting The PNC Financial Services Group this week:

• Positive Sentiment: PNC boosted its quarterly dividend by about 17.6%-18%, signaling strong capital levels and management confidence in future cash generation. The increase should appeal to income investors and may be helping the stock. Article Title
• Positive Sentiment: UBS raised its price target on PNC and reiterated a buy rating, pointing to upside potential versus the recent trading level. That kind of analyst support can lift sentiment ahead of earnings. Article Title
• Positive Sentiment: PNC launched a new mobile banking app, which could improve customer experience and help strengthen digital engagement over time. Article Title
• Positive Sentiment: PNC is being discussed as part of a possible bank-led effort to buy Fiserv’s STAR debit network, a move that could reduce payment-processing costs and create a new revenue opportunity for large banks if it advances. Article Title
• Neutral Sentiment: Wall Street expects PNC to report earnings growth in its July 15 Q2 results, but some commentary says the setup does not strongly favor a clear earnings beat. Investors are likely waiting for the report before making bigger moves. Article Title

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.