The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Eagle Bay Advisors LLC

Eagle Bay Advisors LLC lessened its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,737 shares of the financial services provider’s stock after selling 74 shares during the period. Eagle Bay Advisors LLC’s holdings in The PNC Financial Services Group were worth $1,060,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Greenleaf Trust lifted its stake in shares of The PNC Financial Services Group by 4.5% in the 3rd quarter. Greenleaf Trust now owns 11,653 shares of the financial services provider’s stock valued at $2,154,000 after purchasing an additional 503 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its stake in The PNC Financial Services Group by 193.9% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 4,511 shares of the financial services provider’s stock worth $834,000 after acquiring an additional 2,976 shares in the last quarter. Community Trust & Investment Co. acquired a new position in The PNC Financial Services Group during the 3rd quarter worth about $209,000. Waldron Private Wealth LLC lifted its stake in The PNC Financial Services Group by 9.5% during the 3rd quarter. Waldron Private Wealth LLC now owns 2,850 shares of the financial services provider’s stock worth $527,000 after acquiring an additional 247 shares in the last quarter. Finally, Eastern Bank lifted its stake in The PNC Financial Services Group by 1,884.1% during the 3rd quarter. Eastern Bank now owns 248,812 shares of the financial services provider’s stock worth $45,993,000 after acquiring an additional 236,272 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock traded up $0.87 during mid-day trading on Wednesday, reaching $187.15. 382,074 shares of the company were exchanged, compared to its average volume of 1,861,194. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $196.64. The firm’s 50-day simple moving average is $181.56 and its two-hundred day simple moving average is $167.68. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.82 and a current ratio of 0.81. The firm has a market cap of $74.39 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 2.02 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same period last year, the firm earned $3.60 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities analysts predict that The PNC Financial Services Group, Inc. will post 13.3 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders 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 annualized dividend and a dividend yield of 3.42%. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PNC shares. The Goldman Sachs Group decreased their target price on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Barclays increased their target price on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Stephens increased their target price 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. Jefferies Financial Group upped their price target on The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Finally, Evercore ISI upped their price target on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus price target of $185.71.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 560,911 shares of the company’s stock, valued at $101,233,217.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William S. Demchak sold 1,242 shares of the firm’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 directly owns 560,911 shares of the company’s stock, valued at $101,233,217.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,662 shares of company stock valued at $4,459,819 in the last three months. 0.42% of the stock is currently owned by company insiders.

About The PNC Financial Services Group

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.