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

First Bank & Trust boosted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 17,628 shares of the financial services provider’s stock after buying an additional 711 shares during the period. First Bank & Trust’s holdings in The PNC Financial Services Group were worth $3,259,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC increased its position in The PNC Financial Services Group by 12,940.0% in the third quarter. International Assets Investment Management LLC now owns 536,989 shares of the financial services provider’s stock worth $99,262,000 after purchasing an additional 532,871 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of The PNC Financial Services Group by 160.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 702,384 shares of the financial services provider’s stock valued at $129,836,000 after buying an additional 433,178 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of The PNC Financial Services Group by 38.4% in the 1st quarter. Jennison Associates LLC now owns 1,051,307 shares of the financial services provider’s stock valued at $169,891,000 after acquiring an additional 291,769 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in The PNC Financial Services Group by 152.2% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 457,700 shares of the financial services provider’s stock worth $71,163,000 after acquiring an additional 276,200 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in The PNC Financial Services Group by 24.1% during the second quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock worth $209,962,000 after acquiring an additional 262,654 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Down 1.7 %

Shares of NYSE PNC traded down $3.12 during midday trading on Friday, reaching $185.82. 1,319,036 shares of the company’s stock traded hands, compared to its average volume of 1,863,221. The company has a market cap of $73.94 billion, a price-to-earnings ratio of 15.60, a P/E/G ratio of 1.98 and a beta of 1.14. The stock’s 50 day simple moving average is $182.56 and its 200-day simple moving average is $168.14. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The PNC Financial Services Group, Inc. has a one year low of $110.79 and a one year high of $196.64.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business posted $3.60 EPS. On average, analysts predict that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be issued a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.44%. The PNC Financial Services Group’s dividend payout ratio is presently 53.74%.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $173.82, for a total transaction of $215,884.44. Following the completion of the transaction, the chief executive officer now owns 559,669 shares in the company, valued at $97,281,665.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated 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 directly owns 559,669 shares of the company’s stock, valued at $97,281,665.58. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, President Michael P. Lyons sold 11,000 shares of the stock in a transaction dated 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 ninety days, insiders sold 24,279 shares of company stock valued at $4,395,540. 0.42% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PNC shares. Wells Fargo & Company boosted their price objective 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, October 16th. Evercore ISI raised their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their target price for the company from $185.00 to $200.00 in a research note on Thursday, August 15th. Keefe, Bruyette & Woods boosted their price objective on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley increased their target price on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $185.71.

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.