The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Fidelity D & D Bancorp Inc.

Fidelity D & D Bancorp Inc. decreased its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.0% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 9,630 shares of the financial services provider’s stock after selling 508 shares during the period. The PNC Financial Services Group accounts for 1.2% of Fidelity D & D Bancorp Inc.’s portfolio, making the stock its 21st biggest position. Fidelity D & D Bancorp Inc.’s holdings in The PNC Financial Services Group were worth $1,556,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. BKM Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $26,000. Tennessee Valley Asset Management Partners acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $26,000. Householder Group Estate & Retirement Specialist LLC boosted its holdings in shares of The PNC Financial Services Group by 350.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after buying an additional 140 shares in the last quarter. Fortitude Family Office LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $28,000. Finally, Fortis Group Advisors LLC boosted its holdings in shares of The PNC Financial Services Group by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock valued at $31,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity

In related news, EVP Richard Kevin Bynum sold 850 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the sale, the executive vice president now directly owns 3,502 shares of the company’s stock, valued at approximately $545,856.74. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO William S. Demchak sold 641 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $153.19, for a total value of $98,194.79. Following the sale, the chief executive officer now directly owns 568,323 shares of the company’s stock, valued at approximately $87,061,400.37. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total transaction of $132,489.50. Following the sale, the executive vice president now directly owns 3,502 shares in the company, valued at $545,856.74. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on PNC. Wells Fargo & Company upped their price target on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Bank of America upped their price target on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. JPMorgan Chase & Co. reduced their price target on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Jefferies Financial Group reduced their price target on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a research report on Wednesday, April 17th. Finally, Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $152.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $158.43.

The PNC Financial Services Group Price Performance

Shares of PNC traded up $3.55 during trading hours on Friday, reaching $155.48. The company had a trading volume of 2,706,290 shares, compared to its average volume of 1,482,709. The firm has a 50 day simple moving average of $155.18 and a 200-day simple moving average of $152.82. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $61.87 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 2.17 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The business had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The business’s revenue was down 8.2% compared to the same quarter last year. During the same quarter last year, the firm posted $3.98 EPS. Research analysts expect that The PNC Financial Services Group, Inc. will post 12.63 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were issued a $1.55 dividend. The ex-dividend date was Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.99%. The PNC Financial Services Group’s dividend payout ratio is presently 52.06%.

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.