Orleans Capital Management Corp LA Acquires Shares of 4,935 The PNC Financial Services Group, Inc $PNC

Orleans Capital Management Corp LA bought a new position in The PNC Financial Services Group, Inc (NYSE:PNC) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,935 shares of the financial services provider’s stock, valued at approximately $992,000.

Several other institutional investors and hedge funds have also modified their holdings of PNC. Westfuller Advisors LLC acquired a new position in shares of The PNC Financial Services Group in the third quarter worth $34,000. Bayforest Capital Ltd boosted its position in The PNC Financial Services Group by 237.1% during the third quarter. Bayforest Capital Ltd now owns 209 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 147 shares during the last quarter. True Wealth Design LLC boosted its position in The PNC Financial Services Group by 1,133.3% during the second quarter. True Wealth Design LLC now owns 222 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 204 shares during the last quarter. Country Trust Bank grew its stake in The PNC Financial Services Group by 38.9% in the third quarter. Country Trust Bank now owns 243 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 68 shares in the last quarter. Finally, Corundum Trust Company INC purchased a new position in The PNC Financial Services Group in the third quarter valued at about $49,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Down 2.9%

PNC opened at $206.26 on Friday. The business has a 50 day moving average of $222.17 and a 200-day moving average of $205.02. The stock has a market capitalization of $83.20 billion, a price-to-earnings ratio of 12.43, a P/E/G ratio of 0.89 and a beta of 0.98. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.90. The PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-year high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.23 by $0.65. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The business had revenue of $6.07 billion for the quarter, compared to analyst estimates of $5.90 billion. During the same quarter in the previous year, the firm posted $3.77 earnings per share. The PNC Financial Services Group’s revenue was up 9.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th were given a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, January 20th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.3%. The PNC Financial Services Group’s dividend payout ratio is currently 40.99%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PNC shares. Wells Fargo & Company raised their price target on The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Royal Bank Of Canada boosted their price target on The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Morgan Stanley increased their price objective on The PNC Financial Services Group from $211.00 to $221.00 and gave the stock an “underweight” rating in a report on Tuesday, January 20th. Barclays lifted their target price on shares of The PNC Financial Services Group from $235.00 to $271.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of The PNC Financial Services Group from $228.00 to $247.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 20th. Fifteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Moderate Buy” and an average price target of $234.44.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Louis Robert Cestello sold 4,279 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $234.01, for a total value of $1,001,328.79. Following the completion of the transaction, the executive vice president owned 18,867 shares of the company’s stock, valued at $4,415,066.67. This represents a 18.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Richard Kevin Bynum sold 7,407 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $230.98, for a total value of $1,710,868.86. Following the completion of the sale, the executive vice president owned 1,942 shares of the company’s stock, valued at $448,563.16. This represents a 79.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 64,186 shares of company stock worth $14,840,973 in the last three months. Corporate insiders own 0.41% of the company’s stock.

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.