Pinnacle Financial Partners Inc Has $2.46 Million Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Pinnacle Financial Partners Inc cut its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNCFree Report) by 13.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,884 shares of the financial services provider’s stock after selling 2,535 shares during the period. Pinnacle Financial Partners Inc’s holdings in The PNC Financial Services Group were worth $2,460,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BKM Wealth Management LLC bought a new stake in The PNC Financial Services Group during the fourth quarter worth $26,000. Fortitude Family Office LLC bought a new stake in The PNC Financial Services Group during the fourth quarter worth $28,000. OFI Invest Asset Management bought a new stake in The PNC Financial Services Group during the third quarter worth $25,000. Tyler Stone Wealth Management bought a new stake in The PNC Financial Services Group during the second quarter worth $29,000. Finally, Cornerstone Planning Group LLC bought a new stake in The PNC Financial Services Group during the second quarter worth $30,000. 83.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Wells Fargo & Company increased their price target on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Odeon Capital Group upgraded The PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $153.38 price target for the company in a research note on Thursday, December 14th. The Goldman Sachs Group increased their price target on The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research note on Monday. UBS Group raised their target price on The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a research report on Thursday, January 18th. Finally, Stephens reaffirmed an “equal weight” rating and set a $138.00 target price on shares of The PNC Financial Services Group in a research report on Tuesday, December 5th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $154.18.

Check Out Our Latest Stock Analysis on PNC

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $157.54 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.42. The stock has a market cap of $62.67 billion, a P/E ratio of 12.32, a P/E/G ratio of 1.84 and a beta of 1.18. The company’s 50 day moving average price is $150.69 and its two-hundred day moving average price is $139.15. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $162.24.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last posted its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $3.16 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $1.04. The company had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.30 billion. The PNC Financial Services Group had a net margin of 17.50% and a return on equity of 12.27%. The PNC Financial Services Group’s revenue was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.49 EPS. On average, equities analysts predict that The PNC Financial Services Group, Inc. will post 12.41 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 Monday, February 5th. Investors of record on Tuesday, January 16th were issued a $1.55 dividend. The ex-dividend date was Friday, January 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.94%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 48.48%.

Insider Activity at The PNC Financial Services Group

In related news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the transaction, the executive vice president now directly owns 36,570 shares in the company, valued at approximately $5,442,347.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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