First Bank & Trust Acquires 873 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

First Bank & Trust increased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,836 shares of the financial services provider’s stock after purchasing an additional 873 shares during the quarter. First Bank & Trust’s holdings in The PNC Financial Services Group were worth $2,721,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Steph & Co. increased its stake in shares of The PNC Financial Services Group by 1.8% in the fourth quarter. Steph & Co. now owns 3,720 shares of the financial services provider’s stock worth $576,000 after buying an additional 67 shares during the period. Bangor Savings Bank raised its stake in shares of The PNC Financial Services Group by 1.2% during the fourth quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock valued at $888,000 after acquiring an additional 69 shares during the last quarter. Triangle Securities Wealth Management boosted its holdings in shares of The PNC Financial Services Group by 1.8% during the first quarter. Triangle Securities Wealth Management now owns 4,019 shares of the financial services provider’s stock worth $649,000 after purchasing an additional 70 shares during the period. Cooper Financial Group grew its stake in shares of The PNC Financial Services Group by 1.7% in the first quarter. Cooper Financial Group now owns 4,241 shares of the financial services provider’s stock worth $685,000 after purchasing an additional 70 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC increased its holdings in The PNC Financial Services Group by 1.5% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 4,972 shares of the financial services provider’s stock valued at $804,000 after purchasing an additional 74 shares during the period. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Stock Up 2.3 %

The PNC Financial Services Group stock traded up $3.55 during mid-day trading on Friday, reaching $155.48. The stock had a trading volume of 2,706,290 shares, compared to its average volume of 1,482,709. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $162.24. The company has a 50-day moving average price of $155.18 and a two-hundred day moving average price of $152.91. The company has a market capitalization of $61.87 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 2.17 and a beta of 1.16. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The firm had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the firm posted $3.98 earnings per share. The business’s revenue was down 8.2% on a year-over-year basis. On average, analysts expect that The PNC Financial Services Group, Inc. will post 12.63 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Monday, April 15th were given a dividend of $1.55 per share. The ex-dividend date of this dividend was Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.99%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of recent analyst reports. HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and lifted their price objective for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. Bank of America upped their price objective on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. JPMorgan Chase & Co. cut their target price on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. StockNews.com raised shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Finally, Wells Fargo & Company upped their target price on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $158.43.

Insider Buying and Selling

In other news, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the sale, the executive vice president now owns 3,502 shares of the company’s stock, valued at approximately $545,856.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total value of $132,489.50. Following the transaction, the executive vice president now directly owns 3,502 shares in the company, valued at approximately $545,856.74. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction on Friday, June 21st. The stock was sold at an average price of $153.19, for a total value of $98,194.79. Following the completion of the sale, the chief executive officer now directly owns 568,323 shares of the company’s stock, valued at approximately $87,061,400.37. The disclosure for this sale can be found here. 0.42% of the stock is owned by corporate 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.