The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Bokf Na

Bokf Na lessened its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,875 shares of the financial services provider’s stock after selling 230 shares during the quarter. Bokf Na’s holdings in The PNC Financial Services Group were worth $3,179,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PNC. Tennessee Valley Asset Management Partners acquired a new stake in The PNC Financial Services Group during 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% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares during the last quarter. Palisade Asset Management LLC acquired a new position in The PNC Financial Services Group in the first quarter valued at $29,000. Core Wealth Advisors Inc. acquired a new position in The PNC Financial Services Group in the fourth quarter valued at $31,000. Finally, Fortis Group Advisors LLC boosted its holdings in The PNC Financial Services Group by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PNC. Bank of America lifted their target price on The PNC Financial Services Group from $169.00 to $185.00 and gave the company a “neutral” rating in a report on Wednesday, July 17th. Citigroup lifted their target price on The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. StockNews.com raised The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. 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 research report on Wednesday, July 17th. Finally, Barclays raised their price objective on The PNC Financial Services Group from $199.00 to $209.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and a consensus target price of $175.34.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $176.67, for a total transaction of $219,424.14. Following the sale, the chief executive officer now directly owns 562,153 shares of the company’s stock, valued at approximately $99,315,570.51. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the completion of the sale, the executive vice president now directly owns 3,502 shares in the company, valued at $545,856.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $176.67, for a total transaction of $219,424.14. Following the completion of the sale, the chief executive officer now owns 562,153 shares of the company’s stock, valued at $99,315,570.51. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,661 shares of company stock valued at $1,242,250. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

PNC stock traded up $0.25 during midday trading on Monday, reaching $181.46. The company had a trading volume of 196,092 shares, compared to its average volume of 1,916,071. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36. The stock has a 50 day moving average price of $159.91 and a 200 day moving average price of $155.09. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $182.51. The firm has a market capitalization of $72.20 billion, a PE ratio of 15.24, a P/E/G ratio of 2.33 and a beta of 1.15.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.30. The company had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.40 billion. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.36 earnings per share. Analysts anticipate that The PNC Financial Services Group, Inc. will post 13 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Monday, July 15th will be issued a $1.60 dividend. The ex-dividend date is Monday, July 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.53%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s dividend payout ratio is currently 53.74%.

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.