Hudson Valley Investment Advisors Inc. ADV Has $378,000 Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Hudson Valley Investment Advisors Inc. ADV increased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 27.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,399 shares of the financial services provider’s stock after purchasing an additional 524 shares during the period. Hudson Valley Investment Advisors Inc. ADV’s holdings in The PNC Financial Services Group were worth $378,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Tennessee Valley Asset Management Partners acquired a new position in shares of The PNC Financial Services Group during the fourth quarter valued at $26,000. Householder Group Estate & Retirement Specialist LLC grew its holdings in shares of The PNC Financial Services Group by 350.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after buying an additional 140 shares in the last quarter. LRI Investments LLC bought a new position in The PNC Financial Services Group in the first quarter valued at approximately $28,000. Palisade Asset Management LLC bought a new position in The PNC Financial Services Group in the first quarter valued at approximately $29,000. Finally, Core Wealth Advisors Inc. bought a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

PNC has been the topic of a number of recent research reports. StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Keefe, Bruyette & Woods lifted their target price on The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a report on Wednesday, July 17th. Royal Bank of Canada upped their price target on The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Morgan Stanley upped their target price on The PNC Financial Services Group from $165.00 to $177.00 and gave the company an “underweight” rating in a report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. dropped their target price on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and an average target price of $176.09.

The PNC Financial Services Group Trading Down 2.5 %

Shares of PNC stock traded down $4.18 during trading hours on Monday, hitting $165.82. The company had a trading volume of 3,302,679 shares, compared to its average volume of 1,942,949. The company’s fifty day moving average is $162.13 and its 200 day moving average is $156.09. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.83 and a quick ratio of 0.82. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $182.84. The stock has a market capitalization of $65.98 billion, a PE ratio of 13.91, a price-to-earnings-growth ratio of 2.26 and a beta of 1.15.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.30. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The firm had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the prior year, the firm earned $3.36 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. Research analysts expect that The PNC Financial Services Group, Inc. will post 13.02 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Monday, July 15th will be issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date is Monday, July 15th. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 53.74%.

Insider Activity

In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the transaction, the executive vice president now directly owns 3,502 shares in the company, valued at approximately $545,856.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the sale, the executive vice president now directly owns 3,502 shares of the company’s stock, valued at $545,856.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $153.08, for a total transaction of $98,124.28. Following the sale, the chief executive officer now owns 567,682 shares in the company, valued at approximately $86,900,760.56. The disclosure for this sale can be found here. Insiders sold 19,903 shares of company stock worth $3,463,786 in the last 90 days. 0.42% of the stock is currently owned by corporate insiders.

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.