Stock Yards Bank & Trust Co. Sells 6,610 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Stock Yards Bank & Trust Co. reduced its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 11.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,546 shares of the financial services provider's stock after selling 6,610 shares during the quarter. Stock Yards Bank & Trust Co.'s holdings in The PNC Financial Services Group were worth $9,159,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of PNC. ORG Partners LLC raised its stake in shares of The PNC Financial Services Group by 203.7% in the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider's stock worth $26,000 after buying an additional 110 shares in the last quarter. Y.D. More Investments Ltd acquired a new position in The PNC Financial Services Group during the second quarter worth about $33,000. Valley Wealth Managers Inc. raised its position in 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 acquiring an additional 200 shares in the last quarter. GPS Wealth Strategies Group LLC acquired a new stake in The PNC Financial Services Group in the 2nd quarter valued at about $38,000. Finally, Quarry LP boosted its position in shares of The PNC Financial Services Group by 141.7% during the 2nd quarter. Quarry LP now owns 290 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 170 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

The PNC Financial Services Group Stock Down 0.5 %

Shares of NYSE:PNC traded down $1.07 during trading on Thursday, reaching $202.31. 1,618,743 shares of the company traded hands, compared to its average volume of 1,866,572. The firm has a fifty day simple moving average of $197.98 and a 200 day simple moving average of $179.45. 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, Inc. has a 1-year low of $139.69 and a 1-year high of $216.26. The firm has a market cap of $80.27 billion, a P/E ratio of 17.18, a price-to-earnings-growth ratio of 2.18 and a beta of 1.15.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same period last year, the company earned $3.60 earnings per share. The PNC Financial Services Group's quarterly revenue was up 3.8% compared to the same quarter last year. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were paid a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.16%. The PNC Financial Services Group's payout ratio is 54.10%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PNC shares. Morgan Stanley boosted their target price 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. Evercore ISI upped their price target on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Keefe, Bruyette & Woods raised their price objective on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an "underperform" rating in a research note on Wednesday, October 16th. Wells Fargo & Company lifted their target price 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. Finally, Stephens upped 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 report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $198.02.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $216.01, for a total value of $268,284.42. Following the transaction, the chief executive officer now directly owns 533,765 shares of the company's stock, valued at approximately $115,298,577.65. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Martin Pfinsgraff sold 859 shares of the company's stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the sale, the director now directly owns 915 shares of the company's stock, valued at $170,299.80. The trade was a 48.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,030 shares of company stock worth $5,873,691. 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.