Community Bank N.A. Sells 500 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Community Bank N.A. trimmed its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 11,730 shares of the financial services provider’s stock after selling 500 shares during the period. Community Bank N.A.’s holdings in The PNC Financial Services Group were worth $2,168,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in PNC. EverSource Wealth Advisors LLC grew its stake in shares of The PNC Financial Services Group by 125.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,984 shares of the financial services provider’s stock valued at $304,000 after purchasing an additional 1,103 shares during the period. GAMMA Investing LLC boosted its stake in The PNC Financial Services Group by 121.3% in the 2nd quarter. GAMMA Investing LLC now owns 4,194 shares of the financial services provider’s stock valued at $652,000 after buying an additional 2,299 shares in the last quarter. Bank & Trust Co bought a new stake in The PNC Financial Services Group in the second quarter valued at $26,000. Mather Group LLC. raised its stake in The PNC Financial Services Group by 28.0% during the second quarter. Mather Group LLC. now owns 8,002 shares of the financial services provider’s stock worth $1,293,000 after acquiring an additional 1,750 shares in the last quarter. Finally, First Bank & Trust lifted its holdings in shares of The PNC Financial Services Group by 0.5% during the second quarter. First Bank & Trust now owns 16,917 shares of the financial services provider’s stock valued at $2,630,000 after acquiring an additional 81 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Trading Down 0.1 %

PNC opened at $214.72 on Monday. The PNC Financial Services Group, Inc. has a fifty-two week low of $132.11 and a fifty-two week high of $216.26. The company has a market cap of $85.20 billion, a price-to-earnings ratio of 18.15, a price-to-earnings-growth ratio of 2.25 and a beta of 1.13. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a 50 day simple moving average of $194.07 and a 200 day simple moving average of $176.79.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating 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 company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the prior year, the business posted $3.60 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts anticipate 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 declared a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.98%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

Insider Activity at The PNC Financial Services Group

In related news, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the sale, the director now owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. This trade represents a 27.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $183.74, for a total value of $228,205.08. Following the completion of the transaction, the chief executive officer now directly owns 549,733 shares of the company’s stock, valued at approximately $101,007,941.42. The trade was a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,546 shares of company stock worth $5,345,530 in the last ninety days. Company insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PNC shares. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $185.00 to $200.00 in a report on Thursday, August 15th. Evercore ISI raised their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. 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. Barclays increased their price target 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. Finally, Morgan Stanley lifted their price objective on The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Hold” and an average target price of $189.15.

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.