M&T Bank Corp Sells 6,044 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

M&T Bank Corp trimmed its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 2.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 218,903 shares of the financial services provider's stock after selling 6,044 shares during the period. M&T Bank Corp owned 0.06% of The PNC Financial Services Group worth $40,464,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ORG Partners LLC raised its position in shares of The PNC Financial Services Group by 203.7% during the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider's stock worth $26,000 after buying an additional 110 shares in the last quarter. Valley Wealth Managers Inc. raised its position in shares of The PNC Financial Services Group by 20,000.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider's stock worth $37,000 after buying an additional 200 shares in the last quarter. Y.D. More Investments Ltd bought a new stake in shares of The PNC Financial Services Group in the 2nd quarter worth approximately $33,000. GPS Wealth Strategies Group LLC bought a new stake in shares of The PNC Financial Services Group in the 2nd quarter worth approximately $38,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of The PNC Financial Services Group in the 3rd quarter worth approximately $51,000. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC traded down $0.04 during trading hours on Tuesday, hitting $204.46. 2,146,190 shares of the stock were exchanged, compared to its average volume of 1,868,323. 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's 50 day moving average is $197.02 and its 200 day moving average is $178.93. The firm has a market capitalization of $81.13 billion, a P/E ratio of 17.28, a P/E/G ratio of 2.18 and a beta of 1.15. The PNC Financial Services Group, Inc. has a one year low of $139.69 and a one year high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating the consensus estimate of $3.30 by $0.19. The firm had revenue of $5.43 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the prior year, the company earned $3.60 EPS. On average, 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 business also recently announced 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. This represents a $6.40 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group's payout ratio is currently 54.10%.

Insider Activity at The PNC Financial Services Group

In other news, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the completion of the transaction, the director now owns 915 shares in the company, valued at approximately $170,299.80. This represents a 48.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $216.01, for a total transaction of $268,284.42. Following the completion of the transaction, the chief executive officer now owns 533,765 shares of the company's stock, valued at approximately $115,298,577.65. This represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,030 shares of company stock worth $5,873,691 in the last ninety days. 0.42% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PNC shares. Keefe, Bruyette & Woods boosted their price target on shares of 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. Compass Point boosted their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a "neutral" rating in a research report on Tuesday. Citigroup boosted their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a "buy" rating in a research report on Monday, November 25th. 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. Finally, Bank of America raised shares of The PNC Financial Services Group from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of "Hold" and an average price target of $198.02.

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.