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

Comerica Bank reduced its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,895 shares of the financial services provider’s stock after selling 561 shares during the period. Comerica Bank’s holdings in The PNC Financial Services Group were worth $20,668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Hancock Whitney Corp lifted its stake in shares of The PNC Financial Services Group by 2.7% in the 1st quarter. Hancock Whitney Corp now owns 12,084 shares of the financial services provider’s stock valued at $1,953,000 after purchasing an additional 322 shares during the period. Coppell Advisory Solutions Corp. acquired a new position in The PNC Financial Services Group during the first quarter worth $1,421,000. California State Teachers Retirement System raised its position in The PNC Financial Services Group by 1.2% during the first quarter. California State Teachers Retirement System now owns 659,280 shares of the financial services provider’s stock worth $106,540,000 after acquiring an additional 7,748 shares during the period. B. Riley Wealth Advisors Inc. raised its position in The PNC Financial Services Group by 13.1% during the first quarter. B. Riley Wealth Advisors Inc. now owns 13,755 shares of the financial services provider’s stock worth $2,223,000 after acquiring an additional 1,596 shares during the period. Finally, Ancora Advisors LLC raised its position in The PNC Financial Services Group by 0.8% during the first quarter. Ancora Advisors LLC now owns 9,391 shares of the financial services provider’s stock worth $1,518,000 after acquiring an additional 73 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PNC shares. Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an “underweight” rating in a research report on Tuesday. Citigroup raised their price target on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Barclays upped their price objective on shares of The PNC Financial Services Group from $199.00 to $209.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. JPMorgan Chase & Co. lowered their target price on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Finally, Wells Fargo & Company raised their target price on The PNC Financial Services Group from $194.00 to $204.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $176.09.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $153.19, for a total transaction of $98,194.79. Following the completion of the transaction, the chief executive officer now directly owns 568,323 shares of the company’s stock, valued at $87,061,400.37. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $153.19, for a total transaction of $98,194.79. Following the completion of the sale, the chief executive officer now owns 568,323 shares in the company, valued at $87,061,400.37. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $180.48, for a total value of $224,156.16. Following the sale, the chief executive officer now owns 560,911 shares of the company’s stock, valued at approximately $101,233,217.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,903 shares of company stock valued at $1,466,406. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Trading Down 2.9 %

NYSE PNC traded down $5.24 during trading on Thursday, hitting $175.86. The stock had a trading volume of 1,183,474 shares, compared to its average volume of 1,919,789. The company has a market capitalization of $69.98 billion, a PE ratio of 15.21, a PEG ratio of 2.34 and a beta of 1.15. 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 firm has a 50 day moving average price of $161.35 and a 200 day moving average price of $155.70. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $182.84.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.30. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the previous year, the company posted $3.36 EPS. The PNC Financial Services Group’s revenue was up 2.2% compared to the same quarter last year. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 13.02 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Monday, July 15th will be given a dividend of $1.60 per share. The ex-dividend date is Monday, July 15th. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.64%. The PNC Financial Services Group’s payout ratio is currently 53.74%.

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.