The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by Commerce Bank

Commerce Bank increased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 16.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,320 shares of the financial services provider's stock after buying an additional 8,494 shares during the quarter. Commerce Bank's holdings in The PNC Financial Services Group were worth $11,335,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. ORG Partners LLC raised its holdings in shares of 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 worth $26,000 after purchasing an additional 110 shares during the last quarter. Bank & Trust Co acquired a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at about $26,000. LRI Investments LLC purchased a new stake in shares of The PNC Financial Services Group in the first quarter worth about $28,000. Valley Wealth Managers Inc. boosted its stake in shares of The PNC Financial Services Group by 20,000.0% in the third 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 during the last quarter. Finally, Y.D. More Investments Ltd acquired a new stake in The PNC Financial Services Group during the second quarter worth about $33,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PNC shares. Bank of America upgraded The PNC Financial Services Group from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. Evercore ISI raised their price target on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. 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 research report on Wednesday, October 16th. Stephens raised their target price on The PNC Financial Services Group from $185.00 to $200.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company upped their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $186.96.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $203.95 on Thursday. The stock has a market capitalization of $80.92 billion, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 2.14 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 52 week low of $127.08 and a 52 week high of $214.19. The firm has a 50-day simple moving average of $189.79 and a 200-day simple moving average of $173.99. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22.

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 earnings per share for the quarter, topping analysts' consensus estimates of $3.30 by $0.19. The business had revenue of $5.43 billion for the quarter, compared to analyst estimates 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 revenue was up 3.8% on a year-over-year basis. During the same period last year, the company posted $3.60 EPS. On average, equities analysts predict that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 54.10%.

Insider Buying and Selling 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 23rd. The shares were sold at an average price of $176.15, for a total value of $218,778.30. Following the completion of the sale, the chief executive officer now owns 555,943 shares of the company's stock, valued at $97,929,359.45. This represents a 0.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the sale, the director now directly owns 915 shares in the company, valued at approximately $170,299.80. The trade was a 48.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,788 shares of company stock worth $5,535,978 in the last three months. 0.42% of the stock is owned by corporate 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.