The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by CNB Bank

CNB Bank trimmed its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,768 shares of the financial services provider’s stock after selling 215 shares during the period. CNB Bank’s holdings in The PNC Financial Services Group were worth $697,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ORG Partners LLC raised its holdings in The PNC Financial Services Group by 203.7% in the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 110 shares during the last quarter. Bank & Trust Co purchased a new position in The PNC Financial Services Group during the second quarter worth approximately $26,000. LRI Investments LLC acquired a new position in The PNC Financial Services Group during the first quarter worth $28,000. Palisade Asset Management LLC purchased a new stake in The PNC Financial Services Group in the 1st quarter valued at $29,000. Finally, Y.D. More Investments Ltd acquired a new stake in shares of The PNC Financial Services Group in the 2nd quarter worth $33,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total value of $1,997,380.00. Following the completion of the transaction, the president now owns 199,095 shares in the company, valued at approximately $36,151,670.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total value of $1,997,380.00. Following the sale, the president now owns 199,095 shares of the company’s stock, valued at $36,151,670.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $173.82, for a total transaction of $215,884.44. Following the transaction, the chief executive officer now owns 559,669 shares of the company’s stock, valued at $97,281,665.58. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,420 shares of company stock worth $4,223,131 in the last quarter. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Stock Up 0.3 %

Shares of NYSE:PNC opened at $189.38 on Friday. The firm’s 50-day moving average is $180.83 and its two-hundred day moving average is $167.20. 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 1 year low of $109.40 and a 1 year high of $196.64. The firm has a market capitalization of $75.28 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 2.06 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.30 by $0.19. 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 $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the prior year, the firm earned $3.60 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. Analysts predict that The PNC Financial Services Group, Inc. will post 13.18 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be issued a $1.60 dividend. The ex-dividend date is Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.38%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 53.60%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PNC shares. Wells Fargo & Company boosted their price target on shares of The PNC Financial Services Group from $204.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday. The Goldman Sachs Group dropped their price target on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Stephens lifted their price target on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday. UBS Group increased their price objective on The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Royal Bank of Canada lifted their target price on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Hold” and an average price target of $185.71.

The PNC Financial Services Group Company 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.