M&T Bank Corp Acquires 515 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

M&T Bank Corp lifted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 219,418 shares of the financial services provider’s stock after purchasing an additional 515 shares during the period. M&T Bank Corp owned about 0.06% of The PNC Financial Services Group worth $42,315,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cookson Peirce & Co. Inc. boosted its stake in The PNC Financial Services Group by 209.4% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 5,690 shares of the financial services provider’s stock valued at $1,097,000 after acquiring an additional 3,851 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of The PNC Financial Services Group by 5.2% in the 4th quarter. Victory Capital Management Inc. now owns 922,000 shares of the financial services provider’s stock worth $177,808,000 after purchasing an additional 45,766 shares during the period. AMJ Financial Wealth Management purchased a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $5,964,000. Commerzbank Aktiengesellschaft FI raised its stake in shares of The PNC Financial Services Group by 28.2% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 5,783 shares of the financial services provider’s stock valued at $1,114,000 after buying an additional 1,272 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of The PNC Financial Services Group by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,480,024 shares of the financial services provider’s stock valued at $478,273,000 after buying an additional 39,926 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Down 4.9 %

PNC opened at $180.27 on Wednesday. The business’s fifty day simple moving average is $195.06 and its 200 day simple moving average is $192.83. The PNC Financial Services Group, Inc. has a 52 week low of $143.52 and a 52 week high of $216.26. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The stock has a market cap of $71.34 billion, a PE ratio of 13.11, a P/E/G ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The PNC Financial Services Group’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $3.16 EPS. As a group, research analysts expect 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 announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.55%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $189.29, for a total value of $235,098.18. Following the transaction, the chief executive officer now owns 530,039 shares in the company, valued at approximately $100,331,082.31. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 13,662 shares of company stock worth $2,681,664 in the last 90 days. 0.42% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PNC has been the subject of several recent research reports. The Goldman Sachs Group lifted their price objective on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Citigroup boosted their price target on shares of 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. Wells Fargo & Company raised their price objective on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Stephens reissued an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a report on Friday, January 17th. Finally, Barclays increased their target price on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $205.00.

The PNC Financial Services Group 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.