M&T Bank Corp Trims Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

M&T Bank Corp trimmed its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 2.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund 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 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P grew its position in The PNC Financial Services Group by 8.7% during the third quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider's stock valued at $115,000 after buying an additional 50 shares during the period. MFA Wealth Advisors LLC boosted its stake in The PNC Financial Services Group by 5.4% in the third quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider's stock valued at $200,000 after acquiring an additional 55 shares during the last quarter. Resonant Capital Advisors LLC grew its position in shares of The PNC Financial Services Group by 0.3% during the 3rd quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider's stock valued at $3,148,000 after acquiring an additional 56 shares during the period. Altman Advisors Inc. increased its position in The PNC Financial Services Group by 0.5% in the third quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider's stock worth $1,942,000 after buying an additional 56 shares during the last quarter. Finally, Valley Brook Capital Group Inc. raised its stake in The PNC Financial Services Group by 0.5% in the 3rd quarter. Valley Brook Capital Group Inc. now owns 10,655 shares of the financial services provider's stock valued at $1,969,000 after acquiring an additional 57 shares during the period. Institutional investors and hedge funds own 83.53% of the company's stock.

The PNC Financial Services Group Trading Up 1.4 %

The PNC Financial Services Group stock traded up $2.73 during mid-day trading on Friday, hitting $192.76. The company's stock had a trading volume of 3,934,024 shares, compared to its average volume of 1,885,398. The PNC Financial Services Group, Inc. has a one year low of $139.69 and a one year high of $216.26. The stock has a market cap of $76.48 billion, a PE ratio of 16.29, a P/E/G ratio of 2.11 and a beta of 1.15. The company has a 50 day moving average of $199.96 and a 200-day moving average of $181.54. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share 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 business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same period in the previous year, the company posted $3.60 EPS. The PNC Financial Services Group's revenue was up 3.8% on a year-over-year basis. On average, research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.32%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group's payout ratio is 54.10%.

Insider Buying and Selling

In other news, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction that occurred on 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 sale, the director now directly owns 38,649 shares of the company's stock, valued at $8,119,768.41. The trade was a 27.29 % 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, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $203.06, for a total transaction of $252,200.52. Following the completion of the transaction, the chief executive officer now directly owns 531,281 shares in the company, valued at approximately $107,881,919.86. This represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,030 shares of company stock valued at $5,894,320 over the last quarter. 0.42% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PNC has been the subject of a number of recent analyst reports. Citigroup boosted their price target 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 upped their price objective on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an "underweight" rating in a report on Wednesday, October 16th. Compass Point upped their price target on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods boosted their target price on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an "underperform" rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company lifted their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $200.81.

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.