Community Bank N.A. Increases Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Community Bank N.A. boosted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,230 shares of the financial services provider’s stock after acquiring an additional 435 shares during the quarter. Community Bank N.A.’s holdings in The PNC Financial Services Group were worth $1,894,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PNC. FMR LLC boosted its holdings in The PNC Financial Services Group by 6.7% during the 3rd quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock valued at $1,758,880,000 after acquiring an additional 893,808 shares during the period. International Assets Investment Management LLC boosted its holdings in The PNC Financial Services Group by 15,539.2% during the 4th quarter. International Assets Investment Management LLC now owns 644,021 shares of the financial services provider’s stock valued at $99,727,000 after acquiring an additional 639,903 shares during the period. Invesco Ltd. boosted its holdings in The PNC Financial Services Group by 10.4% during the 3rd quarter. Invesco Ltd. now owns 5,164,321 shares of the financial services provider’s stock valued at $634,024,000 after acquiring an additional 484,475 shares during the period. Envestnet Asset Management Inc. boosted its holdings in The PNC Financial Services Group by 44.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,541,886 shares of the financial services provider’s stock valued at $189,297,000 after acquiring an additional 477,367 shares during the period. Finally, Cambiar Investors LLC purchased a new position in The PNC Financial Services Group during the 4th quarter valued at $37,314,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Up 0.3 %

Shares of PNC traded up $0.45 during trading hours on Wednesday, hitting $158.06. The company had a trading volume of 1,320,485 shares, compared to its average volume of 2,138,266. The company has a market capitalization of $62.88 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 1.76 and a beta of 1.18. 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 PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $162.24. The company’s fifty day moving average price is $152.48 and its two-hundred day moving average price is $142.88.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The firm had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same period in the previous year, the company posted $3.98 EPS. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. As a group, equities analysts forecast that The PNC Financial Services Group, Inc. will post 12.62 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend is Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio is currently 52.06%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PNC shares. Evercore ISI decreased their target price on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. Morgan Stanley lifted their target price on The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research report on Tuesday, January 30th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $152.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Wells Fargo & Company lifted their target price on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Finally, UBS Group lifted their target price on The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a research report on Thursday, January 18th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus price target of $156.63.

Insider Activity at The PNC Financial Services Group

In related news, EVP Michael J. Hannon sold 3,000 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the transaction, the executive vice president now directly owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.42% of the stock is currently owned by corporate insiders.

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.