National Bank of Canada FI boosted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 36.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 338,028 shares of the financial services provider's stock after buying an additional 91,193 shares during the period. National Bank of Canada FI owned 0.09% of The PNC Financial Services Group worth $65,189,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Winch Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter worth $25,000. Richardson Financial Services Inc. raised its holdings in The PNC Financial Services Group by 2,333.3% in the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Albion Financial Group UT purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at about $30,000. Rialto Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at about $32,000. Finally, Synergy Asset Management LLC bought a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at about $32,000. Institutional investors own 83.53% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on PNC shares. Wells Fargo & Company decreased their target price on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. HSBC upgraded The PNC Financial Services Group from a "hold" rating to a "buy" rating and decreased their price objective for the company from $206.00 to $202.00 in a report on Monday, March 31st. JPMorgan Chase & Co. dropped their target price on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a research note on Thursday. Citigroup decreased their price target on The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating for the company in a research note on Monday, March 24th. Finally, Morgan Stanley boosted their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an "underweight" rating in a research note on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $205.18.
View Our Latest Stock Analysis on The PNC Financial Services Group
Insider Activity at The PNC Financial Services Group
In related news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $202.11, for a total value of $251,020.62. Following the completion of the transaction, the chief executive officer now owns 522,587 shares of the company's stock, valued at approximately $105,620,058.57. This represents a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 12,420 shares of company stock worth $2,320,739 in the last three months. Company insiders own 0.41% of the company's stock.
The PNC Financial Services Group Stock Performance
NYSE:PNC traded down $8.44 during mid-day trading on Friday, hitting $152.85. The company's stock had a trading volume of 4,147,372 shares, compared to its average volume of 1,905,861. The business's fifty day moving average is $184.93 and its two-hundred day moving average is $191.73. The stock has a market cap of $60.49 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 1.55 and a beta of 1.04. 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, Inc. has a 1 year low of $143.52 and a 1 year high of $216.26.
The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping analysts' consensus estimates of $3.26 by $0.51. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company's revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.16 earnings per share. Analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.
The PNC Financial Services Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th will be issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend is Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio (DPR) is 46.55%.
The PNC Financial Services Group Profile
(
Free Report)
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.
Further Reading
Before you consider The PNC Financial Services Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and The PNC Financial Services Group wasn't on the list.
While The PNC Financial Services Group currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
