The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by Commerce Bank

Commerce Bank lifted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 16.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 61,320 shares of the financial services provider’s stock after purchasing an additional 8,494 shares during the quarter. Commerce Bank’s holdings in The PNC Financial Services Group were worth $11,335,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PNC. Ameriprise Financial Inc. grew its position in The PNC Financial Services Group by 0.4% during the second quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider’s stock worth $746,772,000 after buying an additional 18,397 shares during the period. Legal & General Group Plc boosted its position in shares of The PNC Financial Services Group by 6.8% in the 2nd quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock worth $544,335,000 after buying an additional 223,955 shares in the last quarter. Principal Financial Group Inc. grew its stake in The PNC Financial Services Group by 1.0% in the 3rd quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock valued at $420,621,000 after acquiring an additional 22,271 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in The PNC Financial Services Group by 4.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,231,728 shares of the financial services provider’s stock valued at $346,926,000 after acquiring an additional 100,993 shares in the last quarter. Finally, Provident Trust Co. raised its position in The PNC Financial Services Group by 0.3% during the third quarter. Provident Trust Co. now owns 2,194,527 shares of the financial services provider’s stock worth $405,658,000 after acquiring an additional 5,638 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling

In other news, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the transaction, the director now owns 915 shares of the company’s stock, valued at $170,299.80. This trade represents a 48.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares in the company, valued at $8,119,768.41. This represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,788 shares of company stock valued at $5,535,978. Company insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods raised their price objective 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. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their price objective for the company from $185.00 to $200.00 in a research note on Thursday, August 15th. Compass Point lowered shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Wells Fargo & Company lifted 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 report on Friday, November 15th. Finally, Stephens upped their price objective 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 note on Wednesday, October 16th. Two investment 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 MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $186.96.

The PNC Financial Services Group Stock Performance

PNC stock opened at $203.95 on Thursday. The company has a market capitalization of $80.92 billion, a P/E ratio of 17.24, a PEG ratio of 2.14 and a beta of 1.13. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The company has a 50-day simple moving average of $189.79 and a 200 day simple moving average of $173.99. The PNC Financial Services Group, Inc. has a fifty-two week low of $127.08 and a fifty-two week high of $214.19.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data 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 company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.60 EPS. Sell-side analysts predict that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were given a $1.60 dividend. 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 (DPR) is presently 54.10%.

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.