Huntington National Bank Lowers Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Huntington National Bank trimmed its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,272 shares of the financial services provider’s stock after selling 10,008 shares during the quarter. Huntington National Bank’s holdings in The PNC Financial Services Group were worth $19,090,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PNC. Concurrent Investment Advisors LLC raised its position in The PNC Financial Services Group by 45.6% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock valued at $1,185,000 after purchasing an additional 2,009 shares in the last quarter. BSN CAPITAL PARTNERS Ltd acquired a new stake in shares of The PNC Financial Services Group during the 3rd quarter worth about $12,548,000. Bleakley Financial Group LLC raised its position in shares of The PNC Financial Services Group by 9.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock worth $2,913,000 after acquiring an additional 1,299 shares in the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth about $822,000. Finally, Manning & Napier Advisors LLC acquired a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth about $18,159,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Trading Down 0.8 %

Shares of PNC stock opened at $209.27 on Thursday. The business’s 50 day moving average is $186.55 and its two-hundred day moving average is $171.93. The PNC Financial Services Group, Inc. has a twelve month low of $122.75 and a twelve month high of $214.19. The company has a market capitalization of $83.03 billion, a P/E ratio of 17.69, a price-to-earnings-growth ratio of 2.23 and a beta of 1.13. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating the consensus estimate 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 period last year, the business posted $3.60 EPS. The company’s revenue was up 3.8% on a year-over-year basis. Equities analysts forecast that The PNC Financial Services Group, Inc. will post 13.41 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Investors 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 3.06%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PNC. 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 on the stock in a research report on Wednesday, September 11th. Royal Bank of Canada raised their target price on The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods lifted their price target on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. Evercore ISI lifted their price target on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, UBS Group lifted their price target 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. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $185.71.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $176.15, for a total value of $218,778.30. Following the sale, the chief executive officer now directly owns 555,943 shares in the company, valued at $97,929,359.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the business’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 directly owns 38,649 shares in the company, valued at approximately $8,119,768.41. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $176.15, for a total value of $218,778.30. Following the sale, the chief executive officer now owns 555,943 shares in the company, valued at approximately $97,929,359.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,788 shares of company stock worth $5,490,869 over the last three months. 0.42% of the stock is currently owned by corporate insiders.

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.