AMG National Trust Bank Has $1.24 Million Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

AMG National Trust Bank cut its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 36.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,713 shares of the financial services provider's stock after selling 3,923 shares during the quarter. AMG National Trust Bank's holdings in The PNC Financial Services Group were worth $1,241,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC lifted its position in The PNC Financial Services Group by 45.6% during the third quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider's stock valued at $1,185,000 after buying an additional 2,009 shares in the last quarter. BSN CAPITAL PARTNERS Ltd purchased a new stake in The PNC Financial Services Group during the 3rd quarter worth $12,548,000. Bleakley Financial Group LLC increased its holdings in The PNC Financial Services Group by 9.0% in 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 in the last quarter. Deerfield Management Company L.P. Series C purchased a new position in The PNC Financial Services Group in the second quarter valued at about $822,000. Finally, Manning & Napier Advisors LLC acquired a new position in shares of The PNC Financial Services Group during the second quarter worth about $18,159,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $176.15, for a total transaction of $218,778.30. Following the completion of the transaction, the chief executive officer now directly owns 555,943 shares of the company's stock, valued at approximately $97,929,359.45. This trade represents a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Martin Pfinsgraff sold 859 shares of the company's stock in a transaction dated 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. The trade was a 48.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,788 shares of company stock valued at $5,535,978 over the last ninety days. 0.42% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Keefe, Bruyette & Woods boosted their price target on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an "underperform" rating in a research report on Wednesday, October 16th. Morgan Stanley boosted their target price on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an "underweight" rating in a research report on Wednesday, October 16th. Barclays raised their price target on shares of 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. Evercore ISI upped their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. 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 report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of "Hold" and a consensus price target of $186.96.

The PNC Financial Services Group Stock Down 0.9 %

The PNC Financial Services Group stock traded down $1.84 during mid-day trading on Tuesday, hitting $204.99. The company's stock had a trading volume of 734,444 shares, compared to its average volume of 1,868,575. The PNC Financial Services Group, Inc. has a 52-week low of $127.08 and a 52-week high of $214.19. The firm's 50 day moving average is $188.73 and its 200 day moving average is $173.43. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $81.34 billion, a PE ratio of 17.35, a price-to-earnings-growth ratio of 2.17 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping analysts' consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business had revenue of $5.43 billion during the quarter, compared to analysts' expectations of $5.39 billion. During the same period in the previous year, the company earned $3.60 earnings per share. The PNC Financial Services Group's revenue for the quarter was up 3.8% on a year-over-year basis. On average, analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 annualized dividend and a yield of 3.12%. The PNC Financial Services Group's dividend payout ratio is 54.10%.

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.