Community Financial Services Group LLC Raises Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Community Financial Services Group LLC raised its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 442.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 32,176 shares of the financial services provider’s stock after buying an additional 26,246 shares during the quarter. Community Financial Services Group LLC’s holdings in The PNC Financial Services Group were worth $5,948,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of PNC. BSN CAPITAL PARTNERS Ltd purchased a new stake in The PNC Financial Services Group during the third quarter valued at $12,548,000. Bleakley Financial Group LLC increased its position in shares of The PNC Financial Services Group by 9.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock valued at $2,913,000 after purchasing an additional 1,299 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new position in shares of The PNC Financial Services Group in the 2nd quarter worth approximately $822,000. Equity Investment Corp boosted its holdings in shares of The PNC Financial Services Group by 3.4% in the first quarter. Equity Investment Corp now owns 682,532 shares of the financial services provider’s stock worth $110,297,000 after buying an additional 22,188 shares during the last quarter. Finally, Duality Advisers LP grew its position in The PNC Financial Services Group by 108.5% during the first quarter. Duality Advisers LP now owns 20,641 shares of the financial services provider’s stock valued at $3,336,000 after buying an additional 10,743 shares during the period. 83.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PNC has been the topic of several recent research reports. Royal Bank of Canada increased their price target on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Morgan Stanley raised their target price on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a report on Wednesday, October 16th. Barclays boosted their price target 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. UBS Group raised their price objective on The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Finally, Stephens boosted their price objective on The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and an average price target of $185.71.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $180.48, for a total value of $224,156.16. Following the completion of the transaction, the chief executive officer now directly owns 560,911 shares of the company’s stock, valued at approximately $101,233,217.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $180.48, for a total transaction of $224,156.16. Following the completion of the transaction, the chief executive officer now owns 560,911 shares in the company, valued at $101,233,217.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Michael P. Lyons sold 11,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the completion of the sale, the president now owns 199,095 shares in the company, valued at approximately $36,151,670.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,662 shares of company stock valued at $4,459,819 in the last ninety days. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Price Performance

PNC traded down $3.74 during trading on Monday, hitting $185.64. 1,678,631 shares of the company traded hands, compared to its average volume of 1,868,421. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36. The company has a market cap of $73.87 billion, a PE ratio of 15.90, a P/E/G ratio of 2.06 and a beta of 1.14. The stock’s 50-day simple moving average is $180.83 and its two-hundred day simple moving average is $167.27. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $196.64.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The firm had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.60 earnings per share. As a group, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 13.18 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be issued a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.45%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 53.74%.

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.