The PNC Financial Services Group, Inc. (NYSE:PNC) Position Cut by First National Bank & Trust Co. of Newtown

First National Bank & Trust Co. of Newtown trimmed its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 10.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 9,690 shares of the financial services provider’s stock after selling 1,075 shares during the quarter. First National Bank & Trust Co. of Newtown’s holdings in The PNC Financial Services Group were worth $1,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in The PNC Financial Services Group by 25.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock worth $7,739,000 after buying an additional 8,081 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its stake in The PNC Financial Services Group by 48.5% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock valued at $5,160,000 after purchasing an additional 8,735 shares in the last quarter. Concurrent Investment Advisors LLC boosted its stake in The PNC Financial Services Group by 45.6% during 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. Root Financial Partners LLC bought a new position in The PNC Financial Services Group during the 4th quarter valued at $346,000. Finally, YANKCOM Partnership bought a new position in The PNC Financial Services Group during the 4th quarter valued at $457,000. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Trading Down 1.2 %

NYSE PNC opened at $194.19 on Thursday. The PNC Financial Services Group, Inc. has a 1-year low of $139.69 and a 1-year high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $77.05 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 1.59 and a beta of 1.16. The firm’s fifty day simple moving average is $196.55 and its 200-day simple moving average is $191.49.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping the consensus estimate of $3.26 by $0.51. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $3.16 earnings per share. As a group, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $216.01, for a total value of $268,284.42. Following the sale, the chief executive officer now directly owns 533,765 shares of the company’s stock, valued at approximately $115,298,577.65. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 13,662 shares of company stock valued at $2,730,549. 0.42% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PNC. The Goldman Sachs Group increased their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Morgan Stanley increased their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Wells Fargo & Company increased their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Citigroup increased their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, Compass Point increased their target price 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. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus price target of $205.00.

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.