Cedar Brook Financial Partners LLC Purchases 590 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Cedar Brook Financial Partners LLC increased its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 12.2% during the second quarter, HoldingsChannel.com reports. The firm owned 5,442 shares of the financial services provider’s stock after acquiring an additional 590 shares during the quarter. Cedar Brook Financial Partners LLC’s holdings in The PNC Financial Services Group were worth $685,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PNC. Argent Trust Co increased its position in shares of The PNC Financial Services Group by 28.6% during the 1st quarter. Argent Trust Co now owns 8,334 shares of the financial services provider’s stock valued at $1,059,000 after purchasing an additional 1,853 shares during the last quarter. Marcum Wealth LLC boosted its position in shares of The PNC Financial Services Group by 19.3% during the 1st quarter. Marcum Wealth LLC now owns 4,403 shares of the financial services provider’s stock valued at $560,000 after acquiring an additional 711 shares during the last quarter. Ruffer LLP bought a new position in shares of The PNC Financial Services Group during the 1st quarter valued at approximately $29,855,000. Arete Wealth Advisors LLC bought a new stake in The PNC Financial Services Group in the first quarter worth $359,411,000,000. Finally, Border to Coast Pensions Partnership Ltd lifted its position in The PNC Financial Services Group by 20.2% in the first quarter. Border to Coast Pensions Partnership Ltd now owns 106,703 shares of the financial services provider’s stock worth $13,562,000 after buying an additional 17,938 shares during the last quarter. Institutional investors own 80.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PNC. 888 reiterated a “reiterates” rating on shares of The PNC Financial Services Group in a research note on Monday, June 26th. Citigroup cut their price target on The PNC Financial Services Group from $150.00 to $145.00 in a research note on Thursday, June 8th. Credit Suisse Group dropped their price objective on The PNC Financial Services Group from $145.00 to $135.00 in a research report on Wednesday, July 19th. StockNews.com initiated coverage on The PNC Financial Services Group in a research report on Thursday, August 17th. They set a “sell” rating on the stock. Finally, Wells Fargo & Company lowered their price target on The PNC Financial Services Group from $186.00 to $176.00 in a report on Wednesday, July 19th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $158.94.

The PNC Financial Services Group Stock Up 1.9 %

Shares of NYSE PNC traded up $2.33 during midday trading on Thursday, reaching $125.94. 300,428 shares of the company’s stock were exchanged, compared to its average volume of 3,084,863. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $50.16 billion, a PE ratio of 8.47, a price-to-earnings-growth ratio of 1.06 and a beta of 1.15. The PNC Financial Services Group, Inc. has a 52-week low of $110.31 and a 52-week high of $170.27. The business’s fifty day moving average price is $126.35 and its two-hundred day moving average price is $126.16.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, July 18th. The financial services provider reported $3.36 EPS for the quarter, beating the consensus estimate of $3.31 by $0.05. The company had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.45 billion. The PNC Financial Services Group had a return on equity of 13.27% and a net margin of 21.97%. The business’s revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $3.42 earnings per share. Analysts forecast that The PNC Financial Services Group, Inc. will post 13.5 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, August 5th. Stockholders of record on Monday, July 17th were paid a dividend of $1.55 per share. The ex-dividend date of this dividend was Friday, July 14th. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.50. This represents a $6.20 annualized dividend and a dividend yield of 4.92%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 42.49%.

About The PNC Financial Services Group

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 certificates of 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.