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

Isthmus Partners LLC decreased its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 6.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,691 shares of the financial services provider’s stock after selling 4,560 shares during the period. The PNC Financial Services Group comprises about 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Cvfg LLC increased its holdings in shares of The PNC Financial Services Group by 2.5% during the fourth quarter. Cvfg LLC now owns 1,753 shares of the financial services provider’s stock worth $366,000 after buying an additional 43 shares in the last quarter. YANKCOM Partnership lifted its stake in shares of 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 valued at $539,000 after acquiring an additional 46 shares during the last quarter. Westfuller Advisors LLC boosted its holdings in shares of The PNC Financial Services Group by 26.9% during the 4th quarter. Westfuller Advisors LLC now owns 217 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 46 shares in the last quarter. Baron Wealth Management LLC boosted its holdings in shares of The PNC Financial Services Group by 3.0% during the 1st quarter. Baron Wealth Management LLC now owns 1,562 shares of the financial services provider’s stock valued at $325,000 after acquiring an additional 46 shares in the last quarter. Finally, Atom Investors LP grew its position in The PNC Financial Services Group by 1.8% during the 4th quarter. Atom Investors LP now owns 2,534 shares of the financial services provider’s stock worth $529,000 after acquiring an additional 46 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on PNC. Oppenheimer upped their target price on The PNC Financial Services Group from $268.00 to $271.00 and gave the stock an “outperform” rating in a report on Tuesday, June 30th. Citigroup lifted their price target on The PNC Financial Services Group from $255.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Keefe, Bruyette & Woods boosted their price target on The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a “market perform” rating in a report on Thursday, April 16th. Bank of America upped their price objective on The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Finally, Jefferies Financial Group assumed coverage on shares of The PNC Financial Services Group in a report on Thursday, March 26th. They issued a “buy” rating and a $250.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, The PNC Financial Services Group presently has an average rating of “Moderate Buy” and a consensus price target of $258.09.

The PNC Financial Services Group Stock Down 2.9%

Shares of NYSE:PNC opened at $246.58 on Thursday. The firm has a market cap of $99.02 billion, a P/E ratio of 14.33, a P/E/G ratio of 1.04 and a beta of 0.91. 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 PNC Financial Services Group, Inc has a 12-month low of $176.88 and a 12-month high of $256.00. The business has a fifty day simple moving average of $228.64 and a 200 day simple moving average of $221.56.

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 return on equity of 12.10% and a net margin of 20.89%.The business’s revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.51 EPS. Analysts predict that The PNC Financial Services Group, Inc will post 18.83 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Monday, July 20th will be paid a $2.00 dividend. This is an increase 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 of this dividend is Monday, July 20th. The PNC Financial Services Group’s payout ratio is presently 39.51%.

Insider Activity at The PNC Financial Services Group

In related news, Director Andrew T. Feldstein sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total value of $9,925,650.00. Following the sale, the director directly owned 10,749 shares in the company, valued at $2,370,906.93. This represents a 80.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Michael Duane Thomas sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $238.14, for a total transaction of $357,210.00. Following the transaction, the executive vice president owned 5,059 shares of the company’s stock, valued at approximately $1,204,750.26. The trade was a 22.87% 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 ninety days. Insiders own 0.38% of the company’s stock.

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

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.