Interchange Capital Partners LLC Trims Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Interchange Capital Partners LLC lessened its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 4,277 shares of the financial services provider’s stock after selling 180 shares during the quarter. Interchange Capital Partners LLC’s holdings in The PNC Financial Services Group were worth $791,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of PNC. Bank & Trust Co purchased a new stake in The PNC Financial Services Group during the second quarter worth $26,000. ORG Partners LLC boosted its stake in shares of The PNC Financial Services Group by 203.7% during the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 110 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of The PNC Financial Services Group during the 1st quarter valued at about $28,000. Palisade Asset Management LLC purchased a new position in shares of The PNC Financial Services Group in the 1st quarter valued at about $29,000. Finally, Y.D. More Investments Ltd acquired a new position in The PNC Financial Services Group in the 2nd quarter worth about $33,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $171.80, for a total value of $213,375.60. Following the transaction, the chief executive officer now owns 557,185 shares of the company’s stock, valued at $95,724,383. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $171.80, for a total value of $213,375.60. Following the transaction, the chief executive officer now directly owns 557,185 shares in the company, valued at approximately $95,724,383. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the completion of the sale, the director now owns 915 shares of the company’s stock, valued at $170,299.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,279 shares of company stock worth $2,418,591. Company insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

PNC has been the topic of several research analyst reports. Royal Bank of Canada raised their price objective on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Wells Fargo & Company boosted their price target on shares of The PNC Financial Services Group from $204.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. Evercore ISI boosted their target price 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. Finally, Citigroup raised their price target on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group currently has an average rating of “Hold” and an average target price of $185.71.

The PNC Financial Services Group Trading Up 1.6 %

NYSE:PNC traded up $2.98 during trading hours on Friday, hitting $191.25. The company had a trading volume of 170,888 shares, compared to its average volume of 1,846,805. The PNC Financial Services Group, Inc. has a 1 year low of $114.51 and a 1 year high of $196.64. The company has a market cap of $76.02 billion, a P/E ratio of 15.91, a P/E/G ratio of 2.02 and a beta of 1.14. The company has a 50-day moving average of $183.75 and a 200 day moving average of $169.08. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.30 by $0.19. The firm had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business earned $3.60 earnings per share. Sell-side analysts expect that The PNC Financial Services Group, Inc. will post 13.34 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

The PNC Financial Services Group Company 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.