German American Bancorp Inc. Trims Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

German American Bancorp Inc. reduced its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 7.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,500 shares of the financial services provider’s stock after selling 115 shares during the period. German American Bancorp Inc.’s holdings in The PNC Financial Services Group were worth $277,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank & Trust Co acquired a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at $26,000. ORG Partners LLC raised its stake in shares of 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 period. LRI Investments LLC acquired a new position in shares of The PNC Financial Services Group in the 1st quarter worth approximately $28,000. Y.D. More Investments Ltd purchased a new position in shares of The PNC Financial Services Group during the 2nd quarter worth approximately $33,000. Finally, Valley Wealth Managers Inc. increased its holdings in The PNC Financial Services Group by 20,000.0% in the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 200 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $203.95 on Thursday. 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 stock has a market capitalization of $80.92 billion, a price-to-earnings ratio of 17.24, a P/E/G ratio of 2.14 and a beta of 1.13. The stock has a 50-day simple moving average of $189.79 and a 200 day simple moving average of $173.99. The PNC Financial Services Group, Inc. has a 12-month low of $127.08 and a 12-month high of $214.19.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The business had revenue of $5.43 billion during the quarter, compared to analysts’ expectations 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 firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.60 earnings per share. On average, research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.14%. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $183.17, for a total value of $227,497.14. Following the transaction, the chief executive officer now directly owns 554,701 shares in the company, valued at $101,604,582.17. The trade was a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the transaction, the director now directly owns 38,649 shares in the company, valued at $8,119,768.41. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,788 shares of company stock worth $5,535,978 over the last ninety days. Insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $185.00 to $200.00 in a report on Thursday, August 15th. Barclays upped their price target on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Wells Fargo & Company lifted their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Compass Point downgraded shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Finally, Stephens increased their price objective 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, October 16th. Two research 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $186.96.

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.