Bokf Na Sells 1,084 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Bokf Na reduced its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.5% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,791 shares of the financial services provider’s stock after selling 1,084 shares during the quarter. Bokf Na’s holdings in The PNC Financial Services Group were worth $2,922,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Bank & Trust Co bought a new position in shares of The PNC Financial Services Group in the second quarter worth approximately $26,000. ORG Partners LLC grew its stake in 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. LRI Investments LLC bought a new position in shares of The PNC Financial Services Group in the 1st quarter worth $28,000. Palisade Asset Management LLC purchased a new stake in shares of The PNC Financial Services Group during the 1st quarter valued at $29,000. Finally, Core Wealth Advisors Inc. bought a new stake in shares of The PNC Financial Services Group during the 4th quarter worth $31,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $177.24 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36. The firm has a market cap of $70.45 billion, a P/E ratio of 14.88, a P/E/G ratio of 1.96 and a beta of 1.14. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $185.84. The firm has a 50-day moving average of $175.16 and a 200-day moving average of $161.66.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.30. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The business had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter last year, the business posted $3.36 EPS. The business’s revenue was up 2.2% on a year-over-year basis. Sell-side analysts expect that The PNC Financial Services Group, Inc. will post 13.1 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 15th were given a dividend of $1.60 per share. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. This represents a $6.40 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was Monday, July 15th. The PNC Financial Services Group’s payout ratio is presently 53.74%.

Analysts Set New Price Targets

A number of research firms have weighed in on PNC. Royal Bank of Canada raised their price target on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Wells Fargo & Company raised their price objective on The PNC Financial Services Group from $194.00 to $204.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. UBS Group upped their target price on The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Morgan Stanley lifted their price target on shares of The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 30th. Finally, Compass Point cut shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $176.90.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $153.08, for a total transaction of $98,124.28. Following the transaction, the chief executive officer now owns 567,682 shares in the company, valued at $86,900,760.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $153.08, for a total transaction of $98,124.28. Following the sale, the chief executive officer now directly owns 567,682 shares of the company’s stock, valued at approximately $86,900,760.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William S. Demchak sold 2,404 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $160.00, for a total value of $384,640.00. Following the transaction, the chief executive officer now owns 564,637 shares in the company, valued at approximately $90,341,920. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,263 shares of company stock worth $4,418,109. 0.42% of the stock is currently 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.