Fidelity D & D Bancorp Inc. Sells 508 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Fidelity D & D Bancorp Inc. decreased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,630 shares of the financial services provider’s stock after selling 508 shares during the quarter. The PNC Financial Services Group comprises approximately 1.2% of Fidelity D & D Bancorp Inc.’s portfolio, making the stock its 21st biggest holding. Fidelity D & D Bancorp Inc.’s holdings in The PNC Financial Services Group were worth $1,556,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BKM Wealth Management LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth $26,000. Tennessee Valley Asset Management Partners bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth $26,000. Householder Group Estate & Retirement Specialist LLC grew its position in The PNC Financial Services Group by 350.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 140 shares in the last quarter. Fortitude Family Office LLC purchased a new position in The PNC Financial Services Group in the fourth quarter worth $28,000. Finally, Fortis Group Advisors LLC grew its position in The PNC Financial Services Group by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

PNC stock traded up $3.55 on Friday, hitting $155.48. The company had a trading volume of 2,706,290 shares, compared to its average volume of 1,482,709. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $162.24. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42. The stock’s 50-day simple moving average is $155.18 and its 200 day simple moving average is $152.82. The stock has a market cap of $61.87 billion, a price-to-earnings ratio of 13.05, a P/E/G ratio of 2.17 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The company had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter last year, the company posted $3.98 earnings per share. The firm’s quarterly revenue was down 8.2% on a year-over-year basis. As a group, equities research analysts expect that The PNC Financial Services Group, Inc. will post 12.63 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.99%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio is presently 52.06%.

Analyst Ratings Changes

Several brokerages recently issued reports on PNC. Wells Fargo & Company upped their target price on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. The Goldman Sachs Group upped their price target on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and upped their price target for the company from $141.00 to $155.00 in a research report on Thursday, March 28th. Keefe, Bruyette & Woods restated an “underperform” rating and set a $152.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. cut their price target on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $158.43.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Richard Kevin Bynum sold 850 shares of The PNC Financial Services Group stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the transaction, the executive vice president now owns 3,502 shares in the company, valued at approximately $545,856.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction on Friday, June 21st. The shares were sold at an average price of $153.19, for a total value of $98,194.79. Following the sale, the chief executive officer now directly owns 568,323 shares in the company, valued at approximately $87,061,400.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Richard Kevin Bynum sold 850 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the sale, the executive vice president now owns 3,502 shares in the company, valued at approximately $545,856.74. The disclosure for this sale can be found here. Corporate 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.