Peapack Gladstone Financial Corp Sells 4,847 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Peapack Gladstone Financial Corp trimmed its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 2.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 209,751 shares of the financial services provider's stock after selling 4,847 shares during the period. Peapack Gladstone Financial Corp owned approximately 0.05% of The PNC Financial Services Group worth $40,450,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Winch Advisory Services LLC bought a new position in The PNC Financial Services Group during the fourth quarter valued at about $25,000. Richardson Financial Services Inc. boosted its position in shares of The PNC Financial Services Group by 2,333.3% during the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 140 shares in the last quarter. Albion Financial Group UT acquired a new position in shares of The PNC Financial Services Group in the 4th quarter worth approximately $30,000. Synergy Asset Management LLC bought a new stake in shares of The PNC Financial Services Group in the 4th quarter worth approximately $32,000. Finally, Rialto Wealth Management LLC acquired a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $32,000. 83.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on PNC. Citigroup dropped their price target on The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Stephens reaffirmed an "equal weight" rating and set a $200.00 target price on shares of The PNC Financial Services Group in a report on Friday, January 17th. Hsbc Global Res raised The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 31st. Barclays upped their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. Finally, HSBC raised shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and dropped their target price for the stock from $206.00 to $202.00 in a research report on Monday, March 31st. Two analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, The PNC Financial Services Group presently has an average rating of "Hold" and a consensus price target of $203.47.

The PNC Financial Services Group Stock Down 0.7 %

NYSE PNC traded down $1.13 during trading on Friday, reaching $151.03. The company's stock had a trading volume of 1,189,154 shares, compared to its average volume of 1,955,935. The business has a 50-day moving average price of $179.25 and a 200-day moving average price of $190.38. The PNC Financial Services Group, Inc. has a 1-year low of $143.52 and a 1-year high of $216.26. The stock has a market capitalization of $59.77 billion, a PE ratio of 10.96, a PEG ratio of 1.55 and a beta of 1.04. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the prior year, the business posted $3.16 earnings per share. The business's quarterly revenue was up 3.8% on a year-over-year basis. On average, research analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be issued a $1.60 dividend. The ex-dividend date is Wednesday, April 16th. This represents a $6.40 annualized dividend and a yield of 4.24%. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 46.55%.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction on Friday, January 17th. The shares were sold at an average price of $198.00, for a total value of $245,916.00. Following the completion of the sale, the chief executive officer now directly owns 525,071 shares in the company, valued at approximately $103,964,058. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 12,420 shares of company stock valued at $2,276,870 over the last 90 days. 0.41% of the stock is currently owned by company insiders.

The PNC Financial Services Group 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.