Tower Bridge Advisors Acquires 2,636 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Tower Bridge Advisors increased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 26.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,586 shares of the financial services provider's stock after buying an additional 2,636 shares during the period. Tower Bridge Advisors' holdings in The PNC Financial Services Group were worth $2,327,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MFA Wealth Advisors LLC boosted its holdings in shares of The PNC Financial Services Group by 5.4% during the third quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider's stock worth $200,000 after acquiring an additional 55 shares during the period. Resonant Capital Advisors LLC grew its holdings in The PNC Financial Services Group by 0.3% in 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 buying an additional 56 shares in the last quarter. Valley Brook Capital Group Inc. increased its position in The PNC Financial Services Group by 0.5% during the 3rd quarter. Valley Brook Capital Group Inc. now owns 10,655 shares of the financial services provider's stock worth $1,969,000 after buying an additional 57 shares during the period. Ledyard National Bank lifted its holdings in shares of The PNC Financial Services Group by 2.8% during the third quarter. Ledyard National Bank now owns 2,350 shares of the financial services provider's stock worth $434,000 after buying an additional 64 shares in the last quarter. Finally, Kowal Investment Group LLC boosted its position in shares of The PNC Financial Services Group by 2.6% in the second quarter. Kowal Investment Group LLC now owns 2,644 shares of the financial services provider's stock valued at $411,000 after acquiring an additional 68 shares during the period. 83.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PNC. Barclays lifted their price objective on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 16th. Evercore ISI boosted their price target on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. Stephens increased their price target on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 16th. Compass Point downgraded The PNC Financial Services Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 22nd. Finally, Wells Fargo & Company raised their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an "overweight" rating in a research report on Friday. Two 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 currently has an average rating of "Hold" and an average target price of $186.96.

The PNC Financial Services Group Trading Down 0.1 %

Shares of PNC stock traded down $0.28 on Friday, hitting $207.68. The company had a trading volume of 2,511,633 shares, compared to its average volume of 1,895,245. The PNC Financial Services Group, Inc. has a twelve month low of $127.08 and a twelve month high of $214.19. 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 firm has a market cap of $82.40 billion, a P/E ratio of 17.56, a P/E/G ratio of 2.17 and a beta of 1.13. The stock's 50-day moving average is $188.25 and its two-hundred day moving average is $172.94.

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, beating analysts' consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the prior year, the firm posted $3.60 EPS. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.08%. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 54.10%.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction 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 approximately $97,929,359.45. This trade represents a 0.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Martin Pfinsgraff sold 859 shares of the business's stock in a transaction dated Tuesday, October 22nd. The stock was 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 of the company's stock, valued at approximately $170,299.80. The trade was a 48.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,546 shares of company stock worth $5,277,493 in the last 90 days. Corporate insiders own 0.42% of the company's stock.

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.