Swedbank AB Has $134.81 Million Stake in The PNC Financial Services Group, Inc $PNC

Swedbank AB grew its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 189.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 645,848 shares of the financial services provider’s stock after buying an additional 422,830 shares during the period. Swedbank AB’s holdings in The PNC Financial Services Group were worth $134,808,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Cvfg LLC grew its position in The PNC Financial Services Group by 2.5% in the 4th quarter. Cvfg LLC now owns 1,753 shares of the financial services provider’s stock worth $366,000 after purchasing an additional 43 shares during the last quarter. YANKCOM Partnership grew its position in The PNC Financial Services Group by 1.8% in the 4th quarter. YANKCOM Partnership now owns 2,583 shares of the financial services provider’s stock worth $539,000 after purchasing an additional 46 shares during the last quarter. Westfuller Advisors LLC grew its position in The PNC Financial Services Group by 26.9% in the 4th quarter. Westfuller Advisors LLC now owns 217 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 46 shares during the last quarter. Flavin Financial Services Inc. grew its position in The PNC Financial Services Group by 0.4% in the 4th quarter. Flavin Financial Services Inc. now owns 13,641 shares of the financial services provider’s stock worth $2,847,000 after purchasing an additional 48 shares during the last quarter. Finally, Almanack Investment Partners LLC. boosted its position in shares of The PNC Financial Services Group by 2.2% during the 4th quarter. Almanack Investment Partners LLC. now owns 2,349 shares of the financial services provider’s stock valued at $490,000 after acquiring an additional 50 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PNC has been the topic of several recent research reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $235.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday, April 15th. Jefferies Financial Group initiated coverage on shares of The PNC Financial Services Group in a research report on Thursday, March 26th. They set a “buy” rating and a $250.00 target price on the stock. Bank of America lifted their target price on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research report on Friday, March 27th. Finally, JPMorgan Chase & Co. lifted their target price on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $243.11.

The PNC Financial Services Group Price Performance

NYSE:PNC opened at $219.50 on Friday. The firm has a market cap of $88.14 billion, a PE ratio of 12.75, a price-to-earnings-growth ratio of 0.91 and a beta of 0.94. The PNC Financial Services Group, Inc has a 12 month low of $169.32 and a 12 month high of $243.94. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05. The company’s 50-day moving average price is $214.39 and its two-hundred day moving average price is $211.74.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, beating analysts’ consensus estimates of $3.92 by $0.40. The firm had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.21 billion. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.51 earnings per share. On average, equities analysts anticipate that The PNC Financial Services Group, Inc will post 18.93 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were paid a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.1%. The PNC Financial Services Group’s payout ratio is currently 39.51%.

The PNC Financial Services Group Profile

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.