Bank of Stockton Purchases 341 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Bank of Stockton raised its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 7.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,736 shares of the financial services provider’s stock after acquiring an additional 341 shares during the period. Bank of Stockton’s holdings in The PNC Financial Services Group were worth $875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Lake Street Advisors Group LLC lifted its position in The PNC Financial Services Group by 0.7% during the third quarter. Lake Street Advisors Group LLC now owns 11,399 shares of the financial services provider’s stock valued at $2,107,000 after purchasing an additional 74 shares during the last quarter. Ballentine Partners LLC raised its position in shares of The PNC Financial Services Group by 17.9% during the 3rd quarter. Ballentine Partners LLC now owns 6,968 shares of the financial services provider’s stock valued at $1,288,000 after buying an additional 1,056 shares in the last quarter. Heritage Oak Wealth Advisors LLC bought a new position in shares of The PNC Financial Services Group in the 3rd quarter valued at about $320,000. Mraz Amerine & Associates Inc. purchased a new position in The PNC Financial Services Group in the third quarter worth about $229,000. Finally, Dakota Wealth Management increased its stake in The PNC Financial Services Group by 5.5% during the third quarter. Dakota Wealth Management now owns 4,186 shares of the financial services provider’s stock worth $774,000 after acquiring an additional 218 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Down 0.5 %

NYSE PNC traded down $0.89 on Friday, reaching $188.05. 208,811 shares of the stock traded hands, compared to its average volume of 1,858,016. The PNC Financial Services Group, Inc. has a 12 month low of $110.79 and a 12 month high of $196.64. The company has a market cap of $74.83 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 1.98 and a beta of 1.14. The company has a fifty day moving average price of $181.96 and a 200-day moving average price of $167.82. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The firm had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the previous year, the company posted $3.60 earnings per share. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, research analysts forecast that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be given a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.40%. The PNC Financial Services Group’s payout ratio is presently 53.74%.

Insider Activity

In related news, President Michael P. Lyons sold 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total value of $1,997,380.00. Following the completion of the transaction, the president now owns 199,095 shares of the company’s stock, valued at $36,151,670.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $170.11, for a total value of $211,276.62. Following the sale, the chief executive officer now directly owns 558,427 shares in the company, valued at approximately $94,994,016.97. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction that occurred on 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 transaction, the president now directly owns 199,095 shares in the company, valued at approximately $36,151,670.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,279 shares of company stock worth $4,395,540. Corporate insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company raised their price objective on The PNC Financial Services Group from $204.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Citigroup lifted their price objective 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. Evercore ISI increased their target price on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. Finally, Royal Bank of Canada increased their price objective 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $185.71.

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.