Investors Sell PNC Financial Services (PNC) on Strength (PNC)

Investors sold shares of PNC Financial Services (NYSE:PNC) on strength during trading on Tuesday. $53.84 million flowed into the stock on the tick-up and $89.55 million flowed out of the stock on the tick-down, for a money net flow of $35.71 million out of the stock. Of all companies tracked, PNC Financial Services had the 12th highest net out-flow for the day. PNC Financial Services traded up $0.44 for the day and closed at $150.79

Several brokerages recently commented on PNC. Zacks Investment Research lowered shares of PNC Financial Services from a “buy” rating to a “hold” rating in a research note on Tuesday, February 27th. Bank of America lifted their price target on shares of PNC Financial Services from $160.00 to $166.00 and gave the stock a “buy” rating in a research note on Tuesday, March 13th. Morgan Stanley lifted their price target on shares of PNC Financial Services from $165.00 to $168.00 and gave the stock an “equal weight” rating in a research note on Friday, February 2nd. BMO Capital Markets reiterated a “buy” rating on shares of PNC Financial Services in a research note on Thursday, January 25th. Finally, Oppenheimer reiterated a “hold” rating on shares of PNC Financial Services in a research note on Tuesday, January 16th. Nineteen analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $149.36.

The firm has a market cap of $70.88 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 1.42 and a beta of 0.91. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.92 and a current ratio of 0.93.

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

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

Several large investors have recently modified their holdings of the company. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of PNC Financial Services by 3.3% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 912,677 shares of the financial services provider’s stock valued at $138,034,000 after acquiring an additional 28,822 shares in the last quarter. First Commonwealth Financial Corp PA boosted its holdings in shares of PNC Financial Services by 4.4% in the first quarter. First Commonwealth Financial Corp PA now owns 16,099 shares of the financial services provider’s stock valued at $2,435,000 after acquiring an additional 682 shares in the last quarter. Glenview Trust Co boosted its holdings in shares of PNC Financial Services by 1.3% in the first quarter. Glenview Trust Co now owns 49,325 shares of the financial services provider’s stock valued at $7,460,000 after acquiring an additional 629 shares in the last quarter. Mariner LLC boosted its holdings in shares of PNC Financial Services by 4.9% in the first quarter. Mariner LLC now owns 37,518 shares of the financial services provider’s stock valued at $5,674,000 after acquiring an additional 1,736 shares in the last quarter. Finally, EP Wealth Advisors LLC boosted its holdings in PNC Financial Services by 52.6% during the first quarter. EP Wealth Advisors LLC now owns 2,544 shares of the financial services provider’s stock worth $385,000 after buying an additional 877 shares in the last quarter. 82.86% of the stock is currently owned by institutional investors and hedge funds.

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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