Cadence Bank Has $935,000 Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Cadence Bank lifted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,057 shares of the financial services provider’s stock after purchasing an additional 188 shares during the quarter. Cadence Bank’s holdings in The PNC Financial Services Group were worth $935,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PNC. International Assets Investment Management LLC boosted its stake 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 valued at $99,262,000 after buying an additional 532,871 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in The PNC Financial Services Group by 160.9% in the third 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. Healthcare of Ontario Pension Plan Trust Fund boosted its stake 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 valued at $71,163,000 after buying an additional 276,200 shares in the last quarter. Hsbc Holdings PLC raised its position in The PNC Financial Services Group by 24.1% in the second quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock valued at $209,962,000 after purchasing an additional 262,654 shares during the last quarter. Finally, Marshall Wace LLP raised its position in The PNC Financial Services Group by 5,419.9% in the second quarter. Marshall Wace LLP now owns 259,049 shares of the financial services provider’s stock valued at $40,277,000 after purchasing an additional 254,356 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Trading Up 0.4 %

Shares of PNC stock opened at $215.00 on Thursday. The company has a market cap of $85.31 billion, a P/E ratio of 18.17, a PEG ratio of 2.22 and a beta of 1.13. The stock has a 50 day simple moving average of $192.94 and a two-hundred day simple moving average of $175.90. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc. has a fifty-two week low of $127.83 and a fifty-two week high of $216.18.

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, topping analysts’ consensus estimates of $3.30 by $0.19. The business had revenue of $5.43 billion during 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 firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.60 earnings per share. Research analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were issued a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a yield of 2.98%. The PNC Financial Services Group’s payout ratio is currently 54.10%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. This trade represents a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 554,701 shares of the company’s stock, valued at $101,604,582.17. This trade represents a 0.22 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,788 shares of company stock worth $5,573,027. 0.42% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Morgan Stanley increased their target price on The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company increased their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Stephens increased their target price on 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. Citigroup increased their target price on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday. Finally, Keefe, Bruyette & Woods increased their target price on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $189.15.

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.