Pinnacle Bank Invests $89,000 in PNC Financial Services Group Inc (PNC) Stock

Pinnacle Bank bought a new position in shares of PNC Financial Services Group Inc (NYSE:PNC) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 764 shares of the financial services provider’s stock, valued at approximately $89,000.

Several other large investors have also bought and sold shares of the company. Martingale Asset Management L P boosted its holdings in PNC Financial Services Group by 3.3% during the third quarter. Martingale Asset Management L P now owns 22,319 shares of the financial services provider’s stock valued at $3,040,000 after purchasing an additional 707 shares in the last quarter. Brown Advisory Inc. boosted its holdings in shares of PNC Financial Services Group by 7.8% in the 3rd quarter. Brown Advisory Inc. now owns 83,987 shares of the financial services provider’s stock worth $11,438,000 after acquiring an additional 6,045 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of PNC Financial Services Group by 3.4% in the 3rd quarter. Franklin Resources Inc. now owns 189,298 shares of the financial services provider’s stock worth $25,780,000 after acquiring an additional 6,223 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in PNC Financial Services Group by 14.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 46,073 shares of the financial services provider’s stock worth $6,285,000 after buying an additional 5,796 shares in the last quarter. Finally, GAM Holding AG lifted its holdings in PNC Financial Services Group by 91.9% during the 3rd quarter. GAM Holding AG now owns 6,329 shares of the financial services provider’s stock worth $861,000 after buying an additional 3,031 shares in the last quarter. 82.27% of the stock is owned by institutional investors.

In related news, Director Martin Pfinsgraff bought 500 shares of PNC Financial Services Group stock in a transaction that occurred on Thursday, February 21st. The stock was purchased at an average cost of $125.69 per share, with a total value of $62,845.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Robert Q. Reilly sold 12,361 shares of the company’s stock in a transaction on Friday, February 8th. The stock was sold at an average price of $122.50, for a total transaction of $1,514,222.50. Following the completion of the transaction, the executive vice president now directly owns 118,671 shares of the company’s stock, valued at $14,537,197.50. The disclosure for this sale can be found here. 0.37% of the stock is owned by corporate insiders.

Shares of PNC traded down $0.03 during trading hours on Wednesday, reaching $134.17. The stock had a trading volume of 1,556,303 shares, compared to its average volume of 2,404,777. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 1.23. PNC Financial Services Group Inc has a 52 week low of $108.45 and a 52 week high of $152.29. The stock has a market cap of $60.55 billion, a P/E ratio of 12.53, a P/E/G ratio of 1.55 and a beta of 1.05.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Friday, April 12th. The financial services provider reported $2.61 EPS for the quarter, meeting the Zacks’ consensus estimate of $2.61. PNC Financial Services Group had a net margin of 25.93% and a return on equity of 11.20%. The business had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the prior year, the company earned $2.43 EPS. On average, equities research analysts expect that PNC Financial Services Group Inc will post 11.34 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Tuesday, April 16th will be given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Monday, April 15th. PNC Financial Services Group’s dividend payout ratio is currently 35.48%.

Several research analysts have issued reports on PNC shares. Royal Bank of Canada reduced their price objective on PNC Financial Services Group to $150.00 and set an “average” rating on the stock in a report on Thursday, January 17th. Bank of America cut shares of PNC Financial Services Group from a “buy” rating to a “neutral” rating in a research report on Thursday, January 10th. Goldman Sachs Group cut shares of PNC Financial Services Group from a “buy” rating to a “neutral” rating and dropped their target price for the company from $154.00 to $144.00 in a research report on Monday, January 7th. Morgan Stanley dropped their target price on shares of PNC Financial Services Group from $147.00 to $135.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 8th. Finally, Macquarie upgraded shares of PNC Financial Services Group from a “neutral” rating to an “outperform” rating in a research report on Wednesday, March 6th. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $145.66.

COPYRIGHT VIOLATION NOTICE: This news story was originally reported by Baseball Daily News and is the sole property of of Baseball Daily News. If you are accessing this news story on another domain, it was stolen and republished in violation of US and international trademark & copyright law. The original version of this news story can be accessed at https://www.baseballdailydigest.com/news/2019/04/24/pinnacle-bank-purchases-new-stake-in-pnc-financial-services-group-inc-pnc.html.

PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, 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.

Featured Article: What is Blockchain?

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

Receive News & Ratings for PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNC Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.