Candriam Luxembourg S.C.A. raised its stake in PNC Financial Services (NYSE:PNC) by 8.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,095 shares of the financial services provider’s stock after purchasing an additional 3,410 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in PNC Financial Services were worth $6,669,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Truewealth LLC purchased a new stake in shares of PNC Financial Services during the fourth quarter valued at approximately $107,000. Crewe Advisors LLC purchased a new stake in shares of PNC Financial Services during the fourth quarter valued at approximately $134,000. Resources Investment Advisors Inc. increased its position in shares of PNC Financial Services by 130.7% during the fourth quarter. Resources Investment Advisors Inc. now owns 1,059 shares of the financial services provider’s stock valued at $153,000 after acquiring an additional 600 shares during the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in shares of PNC Financial Services during the fourth quarter valued at approximately $157,000. Finally, Avestar Capital LLC purchased a new stake in shares of PNC Financial Services during the fourth quarter valued at approximately $177,000. 81.13% of the stock is owned by hedge funds and other institutional investors.
PNC Financial Services stock opened at $148.50 on Friday. PNC Financial Services has a one year low of $116.63 and a one year high of $163.59. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.93 and a quick ratio of 0.92. The firm has a market capitalization of $70.84 billion, a PE ratio of 17.47, a P/E/G ratio of 1.42 and a beta of 0.91.
PNC Financial Services (NYSE:PNC) last posted its quarterly earnings results on Friday, April 13th. The financial services provider reported $2.43 EPS for the quarter, topping the Zacks’ consensus estimate of $2.42 by $0.01. PNC Financial Services had a return on equity of 9.82% and a net margin of 29.85%. The firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same period last year, the company earned $1.96 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. analysts anticipate that PNC Financial Services will post 10.54 EPS for the current fiscal year.
The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Friday, April 13th. PNC Financial Services’s payout ratio is currently 35.29%.
A number of analysts recently commented on the company. BMO Capital Markets reaffirmed a “buy” rating on shares of PNC Financial Services in a research report on Thursday, January 25th. Zacks Investment Research downgraded PNC Financial Services from a “buy” rating to a “hold” rating in a research report on Tuesday, February 27th. Susquehanna Bancshares set a $147.00 target price on PNC Financial Services and gave the stock a “hold” rating in a research report on Tuesday, April 10th. Bank of America raised their target price on PNC Financial Services from $166.00 to $168.00 and gave the stock a “buy” rating in a research report on Friday, May 4th. Finally, Morgan Stanley raised their target price on PNC Financial Services from $165.00 to $168.00 and gave the stock an “equal weight” rating in a research report on Friday, February 2nd. Nineteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $149.36.
PNC Financial Services Company Profile
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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