First Bank & Trust Acquires 711 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

First Bank & Trust increased its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,628 shares of the financial services provider’s stock after buying an additional 711 shares during the period. First Bank & Trust’s holdings in The PNC Financial Services Group were worth $3,259,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Bank & Trust Co purchased a new stake in The PNC Financial Services Group in the second quarter worth $26,000. ORG Partners LLC increased its stake in shares of The PNC Financial Services Group by 203.7% in the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 110 shares in the last quarter. LRI Investments LLC bought a new stake in shares of The PNC Financial Services Group in the first quarter valued at approximately $28,000. Palisade Asset Management LLC purchased a new stake in shares of The PNC Financial Services Group during the 1st quarter valued at approximately $29,000. Finally, Y.D. More Investments Ltd bought a new position in The PNC Financial Services Group in the 2nd quarter worth approximately $33,000. Institutional investors own 83.53% of the company’s stock.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $173.82, for a total transaction of $215,884.44. Following the sale, the chief executive officer now directly owns 559,669 shares in the company, valued at approximately $97,281,665.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the transaction, the director now owns 915 shares in the company, valued at $170,299.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $173.82, for a total transaction of $215,884.44. Following the completion of the sale, the chief executive officer now directly owns 559,669 shares of the company’s stock, valued at approximately $97,281,665.58. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,279 shares of company stock worth $4,395,540 over the last 90 days. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Stock Down 1.7 %

Shares of NYSE PNC traded down $3.12 on Friday, reaching $185.82. 1,319,036 shares of the company’s stock traded hands, compared to its average volume of 1,863,221. 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 business’s 50 day simple moving average is $182.56 and its two-hundred day simple moving average is $168.14. The PNC Financial Services Group, Inc. has a 12 month low of $110.79 and a 12 month high of $196.64. The company has a market cap of $73.94 billion, a price-to-earnings ratio of 15.60, a price-to-earnings-growth ratio of 1.98 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same period in the prior year, the firm posted $3.60 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be issued a $1.60 dividend. The ex-dividend date is Wednesday, October 16th. This represents a $6.40 annualized dividend and a yield of 3.44%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 53.74%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PNC shares. UBS Group increased 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 report on Wednesday, July 17th. The Goldman Sachs Group cut their target price on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Jefferies Financial Group upped their price target on The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Stephens raised their price objective on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Barclays boosted their target price on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a research 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $185.71.

The PNC Financial Services Group Company 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.