Bank of Montreal Can Sells 197,103 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Bank of Montreal Can lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 19.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 800,683 shares of the financial services provider's stock after selling 197,103 shares during the period. Bank of Montreal Can owned about 0.20% of The PNC Financial Services Group worth $154,412,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PNC. Baltimore Washington Financial Advisors Inc. increased its position in The PNC Financial Services Group by 3.1% in the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider's stock valued at $324,000 after acquiring an additional 51 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of The PNC Financial Services Group by 2.4% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider's stock valued at $434,000 after purchasing an additional 53 shares during the last quarter. Transcend Capital Advisors LLC increased its holdings in shares of The PNC Financial Services Group by 1.8% in the fourth quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider's stock valued at $616,000 after purchasing an additional 55 shares during the period. Valmark Advisers Inc. raised its stake in shares of The PNC Financial Services Group by 1.4% during the fourth quarter. Valmark Advisers Inc. now owns 4,010 shares of the financial services provider's stock worth $773,000 after purchasing an additional 56 shares during the last quarter. Finally, Gilbert & Cook Inc. lifted its holdings in shares of The PNC Financial Services Group by 2.1% during the fourth quarter. Gilbert & Cook Inc. now owns 2,787 shares of the financial services provider's stock worth $537,000 after purchasing an additional 58 shares during the period. Hedge funds and other institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Trading Down 0.4 %

NYSE PNC traded down $0.59 on Friday, hitting $151.57. 3,850,177 shares of the stock were exchanged, compared to its average volume of 1,970,491. The company's 50-day moving average price is $178.30 and its two-hundred day moving average price is $190.22. The company has a market capitalization of $59.98 billion, a price-to-earnings ratio of 11.02, a P/E/G ratio of 1.55 and a beta of 1.04. The PNC Financial Services Group, Inc. has a 52-week low of $143.52 and a 52-week high of $216.26. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same period in the prior year, the firm earned $3.16 earnings per share. The firm's revenue was up 3.8% compared to the same quarter last year. Research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th will be issued a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $6.40 annualized dividend and a yield of 4.22%. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 46.55%.

Analyst Ratings Changes

PNC has been the topic of several recent research reports. Truist Financial dropped their price objective on shares of The PNC Financial Services Group from $216.00 to $208.00 and set a "hold" rating on the stock in a research note on Friday, April 4th. Wells Fargo & Company cut their price target on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Citigroup lowered their price objective on The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Stephens reissued an "equal weight" rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Finally, HSBC raised The PNC Financial Services Group from a "hold" rating to a "buy" rating and reduced their price target for the company from $206.00 to $202.00 in a report on Monday, March 31st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $203.47.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 601 shares of the firm's stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $160.00, for a total value of $96,160.00. Following the sale, the chief executive officer now owns 563,573 shares of the company's stock, valued at $90,171,680. This trade represents a 0.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold a total of 12,420 shares of company stock valued at $2,276,870 over the last 90 days. 0.41% of the stock is currently owned by company 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.