First Bank & Trust Boosts Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

First Bank & Trust lifted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.5% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 16,836 shares of the financial services provider’s stock after purchasing an additional 873 shares during the quarter. First Bank & Trust’s holdings in The PNC Financial Services Group were worth $2,721,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. BKM Wealth Management LLC purchased a new position in The PNC Financial Services Group during the 4th quarter worth approximately $26,000. Tennessee Valley Asset Management Partners purchased a new position in shares of The PNC Financial Services Group during the fourth quarter worth $26,000. Fortitude Family Office LLC acquired a new position in The PNC Financial Services Group during the fourth quarter valued at $28,000. Householder Group Estate & Retirement Specialist LLC boosted its holdings in The PNC Financial Services Group by 350.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the last quarter. Finally, Core Wealth Advisors Inc. purchased a new stake in The PNC Financial Services Group in the fourth quarter valued at $31,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Price Performance

Shares of PNC traded up $3.55 during mid-day trading on Friday, hitting $155.48. 2,706,290 shares of the company were exchanged, compared to its average volume of 1,482,709. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $162.24. The stock has a market cap of $61.87 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 2.17 and a beta of 1.16. The company has a 50 day moving average of $155.18 and a 200-day moving average of $152.91.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The business had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The business’s revenue was down 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.98 earnings per share. Analysts expect that The PNC Financial Services Group, Inc. will post 12.63 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were issued a $1.55 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.99%. The PNC Financial Services Group’s payout ratio is currently 52.06%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PNC. The Goldman Sachs Group boosted their price objective on The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Evercore ISI boosted their price target on The PNC Financial Services Group from $180.00 to $184.00 and gave the company an “outperform” rating in a report on Tuesday. Bank of America raised their price objective on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. StockNews.com upgraded shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Finally, Wells Fargo & Company raised their price target on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $158.43.

Insiders Place Their Bets

In other news, EVP Richard Kevin Bynum sold 850 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the completion of the sale, the executive vice president now directly owns 3,502 shares in the company, valued at $545,856.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $153.19, for a total transaction of $98,194.79. Following the transaction, the chief executive officer now owns 568,323 shares of the company’s stock, valued at $87,061,400.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total value of $132,489.50. Following the completion of the sale, the executive vice president now directly owns 3,502 shares of the company’s stock, valued at $545,856.74. The disclosure for this sale can be found here. 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.