Smithfield Trust Co Trims Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Smithfield Trust Co cut its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,982 shares of the financial services provider’s stock after selling 908 shares during the period. Smithfield Trust Co’s holdings in The PNC Financial Services Group were worth $3,875,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. MFA Wealth Advisors LLC lifted its position in The PNC Financial Services Group by 5.4% in the third quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider’s stock valued at $200,000 after acquiring an additional 55 shares during the last quarter. Resonant Capital Advisors LLC raised its holdings in shares of The PNC Financial Services Group by 0.3% in the third quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider’s stock valued at $3,148,000 after buying an additional 56 shares during the last quarter. Altman Advisors Inc. raised its holdings in shares of The PNC Financial Services Group by 0.5% in the third quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider’s stock valued at $1,942,000 after buying an additional 56 shares during the last quarter. Valley Brook Capital Group Inc. raised its holdings in shares of The PNC Financial Services Group by 0.5% in the third quarter. Valley Brook Capital Group Inc. now owns 10,655 shares of the financial services provider’s stock valued at $1,969,000 after buying an additional 57 shares during the last quarter. Finally, Ledyard National Bank raised its holdings in shares of The PNC Financial Services Group by 2.8% in the third quarter. Ledyard National Bank now owns 2,350 shares of the financial services provider’s stock valued at $434,000 after buying an additional 64 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Price Performance

PNC stock opened at $203.95 on Thursday. The firm has a 50 day moving average of $189.79 and a 200-day moving average of $173.99. The PNC Financial Services Group, Inc. has a 12-month low of $127.08 and a 12-month high of $214.19. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The company has a market cap of $80.92 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 2.14 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same period last year, the company posted $3.60 EPS. The company’s revenue was up 3.8% on a year-over-year basis. As a group, equities analysts expect that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were given a dividend of $1.60 per share. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.14%. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

Insider Buying and Selling

In related news, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the sale, the director now directly owns 38,649 shares in the company, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $183.17, for a total transaction of $227,497.14. Following the completion of the sale, the chief executive officer now owns 554,701 shares of the company’s stock, valued at approximately $101,604,582.17. The trade was a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,788 shares of company stock worth $5,535,978 in the last ninety days. Insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on PNC. Compass Point cut shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Morgan Stanley upped their target price on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a report on Wednesday, October 16th. Stephens upped their target price on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Keefe, Bruyette & Woods boosted 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, October 16th. Finally, Wells Fargo & Company boosted their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $186.96.

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.