The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by Wedbush Securities Inc.

Wedbush Securities Inc. grew its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 38.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,681 shares of the financial services provider’s stock after purchasing an additional 1,291 shares during the period. Wedbush Securities Inc.’s holdings in The PNC Financial Services Group were worth $903,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Winch Advisory Services LLC acquired a new stake in The PNC Financial Services Group during the fourth quarter worth about $25,000. Richardson Financial Services Inc. grew its holdings in shares of The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the last quarter. Albion Financial Group UT bought a new stake in shares of The PNC Financial Services Group in the 4th quarter worth approximately $30,000. Synergy Asset Management LLC bought a new stake in shares of The PNC Financial Services Group in the 4th quarter worth approximately $32,000. Finally, Rialto Wealth Management LLC bought a new position in The PNC Financial Services Group during the 4th quarter worth $32,000. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $152.85 on Monday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The firm’s 50 day moving average is $184.93 and its 200-day moving average is $191.80. The PNC Financial Services Group, Inc. has a 12-month low of $143.52 and a 12-month high of $216.26. The stock has a market capitalization of $60.49 billion, a P/E ratio of 11.12, a P/E/G ratio of 1.55 and a beta of 1.04.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.51. The company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.16 earnings per share. Equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be paid a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a yield of 4.19%. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $198.00, for a total transaction of $245,916.00. Following the sale, the chief executive officer now owns 525,071 shares in the company, valued at $103,964,058. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have sold 12,420 shares of company stock worth $2,320,739. Company insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PNC. Citigroup cut their target price on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. The Goldman Sachs Group cut their price objective on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Wells Fargo & Company dropped their price target on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. Barclays boosted their price objective on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. lowered their target price on The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating on the stock in a research report on Thursday. Two analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $205.18.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.