FineMark National Bank & Trust Decreases Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

FineMark National Bank & Trust lessened its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,785 shares of the financial services provider’s stock after selling 202 shares during the quarter. FineMark National Bank & Trust’s holdings in The PNC Financial Services Group were worth $1,051,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in PNC. Steph & Co. boosted its position in shares of The PNC Financial Services Group by 1.8% during the fourth quarter. Steph & Co. now owns 3,720 shares of the financial services provider’s stock valued at $576,000 after purchasing an additional 67 shares in the last quarter. Bangor Savings Bank lifted its position in The PNC Financial Services Group by 1.2% during the fourth quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock valued at $888,000 after buying an additional 69 shares during the period. Oakworth Capital Inc. boosted its holdings in shares of The PNC Financial Services Group by 11.7% during the 4th quarter. Oakworth Capital Inc. now owns 715 shares of the financial services provider’s stock valued at $111,000 after buying an additional 75 shares in the last quarter. Caprock Group LLC grew its position in shares of The PNC Financial Services Group by 0.9% in the 4th quarter. Caprock Group LLC now owns 8,574 shares of the financial services provider’s stock worth $1,328,000 after buying an additional 79 shares during the period. Finally, RMR Wealth Builders increased its stake in shares of The PNC Financial Services Group by 1.2% in the 4th quarter. RMR Wealth Builders now owns 6,561 shares of the financial services provider’s stock worth $1,016,000 after acquiring an additional 79 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, 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 of the company’s stock, valued at $545,856.74. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group Stock Performance

PNC traded up $1.49 during trading on Friday, hitting $154.26. The company’s stock had a trading volume of 1,486,425 shares, compared to its average volume of 1,284,169. The business’s 50 day simple moving average is $155.95 and its 200-day simple moving average is $148.84. The firm has a market cap of $61.38 billion, a PE ratio of 12.95, a P/E/G ratio of 2.95 and a beta of 1.16. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $162.24. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The business had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The business’s quarterly revenue was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.98 earnings per share. As a group, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 12.63 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were given a dividend of $1.55 per share. The ex-dividend date was Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 4.02%. The PNC Financial Services Group’s payout ratio is 52.06%.

Analyst Upgrades and Downgrades

PNC has been the topic of a number of recent research reports. The Goldman Sachs Group upped their price objective on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. Bank of America lifted their target price on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. JPMorgan Chase & Co. decreased their price objective on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Morgan Stanley increased their target price on The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research note on Tuesday, January 30th. Finally, StockNews.com cut The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $157.02.

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.