Fifth Third Bancorp boosted its stake in shares of PNC Financial Services Group Inc (NYSE:PNC) by 0.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 514,911 shares of the financial services provider’s stock after purchasing an additional 2,033 shares during the quarter. Fifth Third Bancorp owned approximately 0.11% of PNC Financial Services Group worth $70,126,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Capital Fund Management S.A. raised its stake in shares of PNC Financial Services Group by 8,670.9% in the 3rd quarter. Capital Fund Management S.A. now owns 134,370 shares of the financial services provider’s stock worth $18,300,000 after buying an additional 132,838 shares in the last quarter. King Luther Capital Management Corp bought a new stake in shares of PNC Financial Services Group in the 3rd quarter worth $532,000. Highbridge Capital Management LLC raised its stake in shares of PNC Financial Services Group by 53.1% in the 3rd quarter. Highbridge Capital Management LLC now owns 100,000 shares of the financial services provider’s stock worth $13,619,000 after buying an additional 34,669 shares in the last quarter. Connors Investor Services Inc. raised its stake in shares of PNC Financial Services Group by 5.0% in the 3rd quarter. Connors Investor Services Inc. now owns 83,794 shares of the financial services provider’s stock worth $11,412,000 after buying an additional 4,020 shares in the last quarter. Finally, Bristol Gate Capital Partners Inc. raised its stake in shares of PNC Financial Services Group by 7.8% in the 3rd quarter. Bristol Gate Capital Partners Inc. now owns 240,643 shares of the financial services provider’s stock worth $32,773,000 after buying an additional 17,513 shares in the last quarter. 79.50% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP Robert Q. Reilly sold 24,710 shares of PNC Financial Services Group stock in a transaction on Friday, September 14th. The stock was sold at an average price of $140.49, for a total transaction of $3,471,507.90. Following the transaction, the executive vice president now owns 131,020 shares in the company, valued at $18,406,999.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.38% of the company’s stock.

Shares of PNC stock opened at $129.31 on Friday. PNC Financial Services Group Inc has a 1-year low of $116.55 and a 1-year high of $163.59. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 1.11. The firm has a market cap of $59.76 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 1.28 and a beta of 0.92.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Friday, October 12th. The financial services provider reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.73 by $0.09. PNC Financial Services Group had a return on equity of 10.88% and a net margin of 30.97%. The business had revenue of $4.36 billion for the quarter, compared to the consensus estimate of $4.32 billion. During the same quarter in the previous year, the company posted $2.16 earnings per share. On average, equities research analysts anticipate that PNC Financial Services Group Inc will post 10.76 EPS for the current year.

PNC Financial Services Group declared that its Board of Directors has authorized a share repurchase plan on Thursday, November 8th that allows the company to buyback $900.00 million in outstanding shares. This buyback authorization allows the financial services provider to buy up to 1.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

A number of equities research analysts have recently issued reports on PNC shares. Deutsche Bank raised PNC Financial Services Group from a “hold” rating to a “buy” rating in a research report on Monday, October 15th. Sanford C. Bernstein raised PNC Financial Services Group from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $158.00 to $145.00 in a research report on Monday, October 15th. ValuEngine lowered PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Friday, October 12th. Nomura cut their target price on PNC Financial Services Group from $162.00 to $140.00 and set a “neutral” rating on the stock in a research report on Monday, October 15th. Finally, BMO Capital Markets cut their target price on PNC Financial Services Group to $139.00 and set an “outperform” rating on the stock in a research report on Monday, October 15th. They noted that the move was a valuation call. Fourteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $155.80.

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About PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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