Fulton Bank N.A. Has $4.41 Million Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Fulton Bank N.A. reduced its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 11.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 22,885 shares of the financial services provider’s stock after selling 3,026 shares during the period. Fulton Bank N.A.’s holdings in The PNC Financial Services Group were worth $4,413,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp grew its position in shares of The PNC Financial Services Group by 0.6% during the 3rd quarter. State Street Corp now owns 17,299,381 shares of the financial services provider’s stock worth $3,197,791,000 after buying an additional 100,573 shares during the period. Franklin Resources Inc. boosted its position in shares of The PNC Financial Services Group by 1.2% during the third quarter. Franklin Resources Inc. now owns 10,286,202 shares of the financial services provider’s stock valued at $1,939,154,000 after buying an additional 123,994 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of The PNC Financial Services Group by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider’s stock worth $1,541,155,000 after acquiring an additional 166,138 shares in the last quarter. Ameriprise Financial Inc. grew its position in The PNC Financial Services Group by 0.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider’s stock worth $746,772,000 after purchasing an additional 18,397 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of The PNC Financial Services Group by 6.8% in the second quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock valued at $544,335,000 after acquiring an additional 223,955 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 0.3 %

Shares of The PNC Financial Services Group stock traded down $0.59 during trading on Wednesday, hitting $194.18. The company’s stock had a trading volume of 666,786 shares, compared to its average volume of 1,820,848. 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 company has a fifty day simple moving average of $201.22 and a two-hundred day simple moving average of $185.16. The PNC Financial Services Group, Inc. has a 52 week low of $139.69 and a 52 week high of $216.26. The company has a market capitalization of $77.05 billion, a PE ratio of 16.41, a P/E/G ratio of 2.11 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating the consensus estimate of $3.30 by $0.19. The company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The PNC Financial Services Group’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $3.60 EPS. Equities research analysts predict that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.30%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

Analysts Set New Price Targets

A number of research analysts have weighed in on PNC shares. Evercore ISI boosted their target price on shares of 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. Piper Sandler raised their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Compass Point raised their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Stephens increased 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 research note on Wednesday, October 16th. Finally, Citigroup boosted their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus price target of $203.29.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $190.57, for a total value of $236,687.94. Following the transaction, the chief executive officer now owns 546,007 shares of the company’s stock, valued at approximately $104,052,553.99. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the sale, the director now directly owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,272 shares of company stock worth $6,155,103 over the last quarter. Company 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.