Dumont & Blake Investment Advisors LLC cut its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 50.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,968 shares of the financial services provider's stock after selling 8,000 shares during the quarter. Dumont & Blake Investment Advisors LLC's holdings in The PNC Financial Services Group were worth $1,473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also bought and sold shares of the company. ORG Partners LLC lifted its position in The PNC Financial Services Group by 203.7% during the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 110 shares during the last quarter. Bank & Trust Co bought a new stake in shares of The PNC Financial Services Group in the 2nd quarter worth approximately $26,000. LRI Investments LLC bought a new stake in shares of The PNC Financial Services Group in the 1st quarter worth approximately $28,000. Palisade Asset Management LLC bought a new stake in shares of The PNC Financial Services Group in the 1st quarter worth approximately $29,000. Finally, 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. 83.53% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of brokerages have recently weighed in on PNC. Stephens boosted their price objective on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 16th. Morgan Stanley boosted 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. Bank of America upgraded shares of The PNC Financial Services Group from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $185.00 to $200.00 in a report on Thursday, August 15th. Barclays upped 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. Finally, Royal Bank of Canada upped their price target on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the company an "outperform" rating in a report on Wednesday, July 17th. Two investment 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. According to data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of "Hold" and a consensus target price of $185.71.
Check Out Our Latest Stock Analysis on The PNC Financial Services Group
Insider Transactions at The PNC Financial Services Group
In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $173.82, for a total value of $215,884.44. Following the transaction, the chief executive officer now owns 559,669 shares in the company, valued at $97,281,665.58. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $173.82, for a total value of $215,884.44. Following the transaction, the chief executive officer now owns 559,669 shares in the company, valued at $97,281,665.58. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at $170,299.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,279 shares of company stock worth $4,395,540 in the last quarter. Company insiders own 0.42% of the company's stock.
The PNC Financial Services Group Stock Down 1.7 %
The PNC Financial Services Group stock traded down $3.13 during mid-day trading on Friday, reaching $185.81. The stock had a trading volume of 1,319,036 shares, compared to its average volume of 1,863,221. The company has a market capitalization of $73.94 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 1.98 and a beta of 1.14. The company has a 50-day moving average price of $182.30 and a two-hundred day moving average price of $167.97. The PNC Financial Services Group, Inc. has a one year low of $110.79 and a one year high of $196.64. 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 PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.30 by $0.19. The company had revenue of $5.43 billion for 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 PNC Financial Services Group's revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.60 EPS. On average, analysts expect that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current fiscal year.
The PNC Financial Services Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend is Wednesday, October 16th. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 53.74%.
The PNC Financial Services Group Company Profile
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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.
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