Community Bank N.A. Has $2.17 Million Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Community Bank N.A. cut its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.1% in the third quarter, Holdings Channel reports. The institutional investor owned 11,730 shares of the financial services provider’s stock after selling 500 shares during the period. Community Bank N.A.’s holdings in The PNC Financial Services Group were worth $2,168,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PNC. Bank & Trust Co acquired a new position in The PNC Financial Services Group during the 2nd quarter worth approximately $26,000. ORG Partners LLC boosted its holdings in The PNC Financial Services Group by 203.7% during the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 110 shares during the last quarter. Y.D. More Investments Ltd acquired a new position in The PNC Financial Services Group during the second quarter worth $33,000. Valley Wealth Managers Inc. grew its position in The PNC Financial Services Group by 20,000.0% in the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 200 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC acquired a new stake in The PNC Financial Services Group in the 2nd quarter valued at $38,000. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $214.72 on Monday. The company has a market capitalization of $85.20 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 2.25 and a beta of 1.13. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The PNC Financial Services Group, Inc. has a 12 month low of $132.11 and a 12 month high of $216.26. The stock’s 50 day moving average is $194.07 and its 200-day moving average is $176.79.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $5.39 billion. During the same period in the prior year, the firm posted $3.60 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts expect that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

Insiders Place Their Bets

In other news, Director Martin Pfinsgraff sold 859 shares of the company’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total transaction of $159,877.08. Following the completion of the sale, the director now directly owns 915 shares in the company, valued at approximately $170,299.80. This represents a 48.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $181.35, for a total value of $225,236.70. Following the completion of the transaction, the chief executive officer now owns 548,491 shares in the company, valued at $99,468,842.85. The trade was a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,546 shares of company stock worth $5,345,530 in the last quarter. Corporate insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PNC shares. Stephens increased their price objective on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Barclays raised 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. Evercore ISI boosted their price target on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods increased their price objective on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a report on Wednesday, October 16th. Finally, Compass Point downgraded shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Two research 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.com, The PNC Financial Services Group presently has a consensus rating of “Hold” and an average price target of $189.15.

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.