Ibex Wealth Advisors Grows Stake in PNC Financial Services Group Inc (PNC)

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Ibex Wealth Advisors lifted its position in PNC Financial Services Group Inc (NYSE:PNC) by 53.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,537 shares of the financial services provider’s stock after buying an additional 8,591 shares during the period. PNC Financial Services Group makes up about 1.5% of Ibex Wealth Advisors’ investment portfolio, making the stock its 26th biggest position. Ibex Wealth Advisors’ holdings in PNC Financial Services Group were worth $3,639,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC boosted its stake in shares of PNC Financial Services Group by 37.1% in the 4th quarter. Lazard Asset Management LLC now owns 229,404 shares of the financial services provider’s stock worth $33,100,000 after buying an additional 62,048 shares during the last quarter. Millennium Management LLC boosted its stake in shares of PNC Financial Services Group by 537.7% in the 4th quarter. Millennium Management LLC now owns 292,243 shares of the financial services provider’s stock worth $42,168,000 after buying an additional 246,414 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of PNC Financial Services Group by 3.1% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 278,295 shares of the financial services provider’s stock worth $40,155,000 after buying an additional 8,477 shares during the last quarter. Segall Bryant & Hamill LLC bought a new position in PNC Financial Services Group in the 4th quarter worth $213,000. Finally, Valeo Financial Advisors LLC raised its holdings in PNC Financial Services Group by 23.9% in the 4th quarter. Valeo Financial Advisors LLC now owns 2,347 shares of the financial services provider’s stock worth $339,000 after purchasing an additional 453 shares during the period. Hedge funds and other institutional investors own 81.03% of the company’s stock.

A number of equities analysts recently commented on the company. Zacks Investment Research cut PNC Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 27th. Susquehanna Bancshares set a $147.00 target price on PNC Financial Services Group and gave the stock a “hold” rating in a report on Tuesday, April 10th. Finally, Bank of America raised their target price on PNC Financial Services Group from $166.00 to $168.00 and gave the stock a “buy” rating in a report on Friday, May 4th. Nineteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. PNC Financial Services Group currently has an average rating of “Hold” and a consensus price target of $149.36.

NYSE:PNC traded down $0.41 on Thursday, reaching $140.94. 13,228 shares of the company’s stock traded hands, compared to its average volume of 2,271,657. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 1.14. The stock has a market cap of $66.90 billion, a PE ratio of 16.64, a P/E/G ratio of 1.34 and a beta of 0.90. PNC Financial Services Group Inc has a 12 month low of $118.89 and a 12 month high of $163.59.

PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Friday, April 13th. The financial services provider reported $2.43 EPS for the quarter, beating the Zacks’ consensus estimate of $2.42 by $0.01. The business had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.14 billion. PNC Financial Services Group had a return on equity of 9.82% and a net margin of 29.85%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $1.96 earnings per share. sell-side analysts anticipate that PNC Financial Services Group Inc will post 10.53 earnings per share for the current fiscal year.

PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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