The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by First County Bank CT

First County Bank CT lessened its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 11.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,153 shares of the financial services provider’s stock after selling 926 shares during the quarter. First County Bank CT’s holdings in The PNC Financial Services Group were worth $1,322,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of PNC. Bank & Trust Co purchased a new stake in shares of The PNC Financial Services Group in the second quarter valued at about $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 hedge funds and other institutional investors.

The PNC Financial Services Group Stock Up 0.9 %

Shares of NYSE:PNC opened at $205.75 on Friday. 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 company’s fifty day moving average is $190.35 and its two-hundred day moving average is $174.21. The PNC Financial Services Group, Inc. has a 1-year low of $127.08 and a 1-year high of $214.19. The stock has a market capitalization of $81.64 billion, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 2.14 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $5.39 billion. During the same period last year, the business posted $3.60 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were given a dividend of $1.60 per share. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.11%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 54.10%.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $186.45, for a total transaction of $231,570.90. Following the transaction, the chief executive officer now directly owns 550,975 shares in the company, valued at approximately $102,729,288.75. The trade was a 0.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction dated 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 transaction, the director now directly owns 38,649 shares in the company, valued at approximately $8,119,768.41. This trade represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 26,546 shares of company stock valued at $5,317,200. Company insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

A number of 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 upped their target price for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. Stephens lifted their price objective on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” 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 report on Friday, November 15th. Evercore ISI lifted 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. Finally, Barclays increased their price objective on The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $186.96.

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.