The PNC Financial Services Group, Inc. (NYSE:PNC) Stake Lowered by Zions Bancorporation N.A.

Zions Bancorporation N.A. trimmed its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,986 shares of the financial services provider’s stock after selling 1,099 shares during the quarter. The PNC Financial Services Group comprises 0.6% of Zions Bancorporation N.A.’s portfolio, making the stock its 26th largest holding. Zions Bancorporation N.A.’s holdings in The PNC Financial Services Group were worth $7,761,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Capital International Investors grew its holdings in The PNC Financial Services Group by 0.5% in the 1st quarter. Capital International Investors now owns 15,818,038 shares of the financial services provider’s stock worth $2,556,195,000 after buying an additional 78,407 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in The PNC Financial Services Group by 0.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider’s stock worth $746,772,000 after buying an additional 18,397 shares in the last quarter. Legal & General Group Plc boosted its stake in The PNC Financial Services Group by 6.8% during the 2nd quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock valued at $544,335,000 after purchasing an additional 223,955 shares in the last quarter. Principal Financial Group Inc. boosted its stake in The PNC Financial Services Group by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock valued at $420,621,000 after purchasing an additional 22,271 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in The PNC Financial Services Group by 4.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,231,728 shares of the financial services provider’s stock valued at $346,926,000 after purchasing an additional 100,993 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Price Performance

PNC opened at $209.27 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $83.03 billion, a P/E ratio of 17.69, a PEG ratio of 2.23 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 12-month low of $122.75 and a 12-month high of $214.19. The stock has a fifty day moving average of $187.09 and a 200-day moving average of $172.19.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping the consensus estimate of $3.30 by $0.19. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $3.60 earnings per share. Equities analysts forecast that The PNC Financial Services Group, Inc. will post 13.41 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is 54.10%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their price target for the company from $185.00 to $200.00 in a research note on Thursday, August 15th. Citigroup increased their price target on The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Morgan Stanley increased their price target on The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research note on Wednesday, October 16th. Barclays increased their price target on The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Stephens increased their price target 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 investment 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 data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $185.71.

Insiders Place Their Bets

In other news, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the transaction, the director now directly owns 38,649 shares in the company, valued at approximately $8,119,768.41. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $171.80, for a total transaction of $213,375.60. Following the transaction, the chief executive officer now directly owns 557,185 shares in the company, valued at $95,724,383. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the transaction, the director now owns 38,649 shares in the company, valued at $8,119,768.41. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,788 shares of company stock valued at $5,490,869 over the last three months. 0.42% of the stock is currently owned by insiders.

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.