Dumont & Blake Investment Advisors LLC Decreases Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Dumont & Blake Investment Advisors LLC reduced its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 50.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,968 shares of the financial services provider’s stock after selling 8,000 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in The PNC Financial Services Group were worth $1,473,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BSN CAPITAL PARTNERS Ltd acquired a new position in shares of The PNC Financial Services Group during the third quarter worth about $12,548,000. Bleakley Financial Group LLC lifted 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 purchasing an additional 1,299 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new position in shares of The PNC Financial Services Group during the second quarter worth $822,000. Equity Investment Corp raised its stake in The PNC Financial Services Group by 3.4% in the first quarter. Equity Investment Corp now owns 682,532 shares of the financial services provider’s stock valued at $110,297,000 after buying an additional 22,188 shares in the last quarter. Finally, Duality Advisers LP boosted its position in shares of The PNC Financial Services Group by 108.5% during the 1st quarter. Duality Advisers LP now owns 20,641 shares of the financial services provider’s stock worth $3,336,000 after acquiring an additional 10,743 shares in the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Price Performance

NYSE:PNC traded down $0.37 during trading hours on Friday, reaching $188.57. 105,615 shares of the company traded hands, compared to its average volume of 1,857,517. The stock has a market cap of $75.03 billion, a P/E ratio of 15.86, a P/E/G ratio of 1.98 and a beta of 1.14. The firm’s 50-day moving average is $181.96 and its 200-day moving average is $167.82. The PNC Financial Services Group, Inc. has a 1-year low of $110.79 and a 1-year high of $196.64. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.30 by $0.19. The business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $3.60 EPS. Equities research analysts expect that The PNC Financial Services Group, Inc. will post 13.34 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 53.74%.

Insider Transactions at The PNC Financial Services Group

In other news, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction dated Wednesday, July 31st. The stock was 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 approximately $36,151,670.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the completion of the transaction, the director now directly owns 915 shares of the company’s stock, valued at $170,299.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Michael P. Lyons sold 11,000 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the transaction, the president now directly owns 199,095 shares in the company, 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 sold 24,279 shares of company stock valued at $4,395,540 over the last quarter. Company insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on PNC shares. The Goldman Sachs Group cut their price objective on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $185.00 to $200.00 in a research note on Thursday, August 15th. Citigroup raised their target price on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Stephens upped their price target on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Jefferies Financial Group lifted their price objective on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $185.71.

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.