First Citizens Bank & Trust Co. Acquires 91 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

First Citizens Bank & Trust Co. raised its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,606 shares of the financial services provider’s stock after buying an additional 91 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in The PNC Financial Services Group were worth $1,406,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Los Angeles Capital Management LLC increased its position in The PNC Financial Services Group by 526.5% during the 1st quarter. Los Angeles Capital Management LLC now owns 12,888 shares of the financial services provider’s stock valued at $2,083,000 after purchasing an additional 10,831 shares during the period. Wedmont Private Capital increased its position in shares of The PNC Financial Services Group by 3.1% during the first quarter. Wedmont Private Capital now owns 3,424 shares of the financial services provider’s stock valued at $553,000 after buying an additional 104 shares during the period. Park Avenue Securities LLC raised its stake in The PNC Financial Services Group by 1.8% in the first quarter. Park Avenue Securities LLC now owns 11,147 shares of the financial services provider’s stock worth $1,801,000 after buying an additional 196 shares in the last quarter. Congress Asset Management Co. MA purchased a new stake in The PNC Financial Services Group in the first quarter worth about $207,000. Finally, Bangor Savings Bank boosted its position in The PNC Financial Services Group by 3.0% during the 1st quarter. Bangor Savings Bank now owns 5,910 shares of the financial services provider’s stock valued at $955,000 after acquiring an additional 173 shares in the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, October 11th. The stock was sold at an average price of $185.00, for a total value of $229,770.00. Following the completion of the sale, the chief executive officer now owns 547,249 shares of the company’s stock, valued at $101,241,065. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $185.00, for a total value of $229,770.00. Following the transaction, the chief executive officer now directly owns 547,249 shares of the company’s stock, valued at approximately $101,241,065. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Michael P. Lyons sold 11,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the sale, the president now directly owns 199,095 shares of the company’s stock, valued at $36,151,670.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,420 shares of company stock valued at $4,223,131 in the last ninety days. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Price Performance

NYSE PNC opened at $189.38 on Friday. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $196.64. The stock has a 50-day moving average of $180.83 and a 200 day moving average of $167.20. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.82 and a current ratio of 0.83. The company has a market capitalization of $75.28 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 2.06 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The firm had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $3.60 earnings per share. On average, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 13.18 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be paid a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.38%. The PNC Financial Services Group’s dividend payout ratio is presently 53.60%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PNC shares. Compass Point lowered The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Barclays increased their price objective on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a report on Wednesday. Evercore ISI boosted their target price on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday. Keefe, Bruyette & Woods increased their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research note on Wednesday. Finally, Citigroup boosted their price objective on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus target price of $185.71.

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.