Home Federal Bank of Tennessee Takes Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Home Federal Bank of Tennessee bought a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the third quarter, HoldingsChannel reports. The institutional investor bought 1,285 shares of the financial services provider’s stock, valued at approximately $238,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PNC. Foundations Investment Advisors LLC raised its holdings in shares of The PNC Financial Services Group by 5.9% in the 3rd quarter. Foundations Investment Advisors LLC now owns 1,544 shares of the financial services provider’s stock worth $285,000 after purchasing an additional 86 shares in the last quarter. Telos Capital Management Inc. increased its holdings in shares of The PNC Financial Services Group by 0.5% in the third quarter. Telos Capital Management Inc. now owns 36,856 shares of the financial services provider’s stock valued at $6,813,000 after buying an additional 186 shares in the last quarter. Ledyard National Bank boosted its stake in shares of The PNC Financial Services Group by 2.8% during the 3rd quarter. Ledyard National Bank now owns 2,350 shares of the financial services provider’s stock worth $434,000 after acquiring an additional 64 shares in the last quarter. Community Financial Services Group LLC grew its holdings in shares of The PNC Financial Services Group by 442.6% in the 3rd quarter. Community Financial Services Group LLC now owns 32,176 shares of the financial services provider’s stock worth $5,948,000 after acquiring an additional 26,246 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of The PNC Financial Services Group by 55.8% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 69,759 shares of the financial services provider’s stock worth $12,895,000 after purchasing an additional 24,970 shares during the period. 83.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $180.48, for a total value of $224,156.16. Following the transaction, the chief executive officer now directly owns 560,911 shares in the company, valued at $101,233,217.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $180.48, for a total value of $224,156.16. Following the transaction, the chief executive officer now owns 560,911 shares of the company’s stock, valued at approximately $101,233,217.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction 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 completion of the sale, the president now owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,662 shares of company stock valued at $4,459,819. 0.42% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PNC has been the topic of a number of analyst reports. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. UBS Group lifted their price objective on shares of 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. Keefe, Bruyette & Woods raised their target price on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. Stephens increased their price objective on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Citigroup lifted their target price on The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Hold” and an average target price of $185.71.

The PNC Financial Services Group Stock Performance

PNC traded down $1.30 on Tuesday, hitting $184.34. 103,361 shares of the stock traded hands, compared to its average volume of 1,859,781. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $196.64. The firm has a market capitalization of $73.35 billion, a PE ratio of 15.59, a P/E/G ratio of 2.06 and a beta of 1.14. The business has a fifty day moving average price of $181.20 and a two-hundred day moving average price of $167.47. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.30 by $0.19. The business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $3.60 EPS. On average, research analysts predict that The PNC Financial Services Group, Inc. will post 13.18 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be paid a dividend of $1.60 per share. The ex-dividend date is Wednesday, October 16th. This represents a $6.40 annualized dividend and a yield of 3.47%. The PNC Financial Services Group’s dividend payout ratio is currently 53.74%.

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.