M&T Bank Corp trimmed its stake in shares of PNC Financial Services Group Inc (NYSE:PNC) by 3.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 268,295 shares of the financial services provider’s stock after selling 8,873 shares during the quarter. M&T Bank Corp’s holdings in PNC Financial Services Group were worth $38,711,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the company. Quadrant Capital Group LLC raised its position in shares of PNC Financial Services Group by 0.3% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,417 shares of the financial services provider’s stock worth $137,000 after purchasing an additional 4 shares during the period. Green Square Capital LLC raised its position in shares of PNC Financial Services Group by 0.4% during the 2nd quarter. Green Square Capital LLC now owns 4,147 shares of the financial services provider’s stock worth $518,000 after purchasing an additional 18 shares during the period. Cetera Investment Advisers raised its position in shares of PNC Financial Services Group by 2.0% during the 2nd quarter. Cetera Investment Advisers now owns 2,364 shares of the financial services provider’s stock worth $295,000 after purchasing an additional 46 shares during the period. Moors & Cabot Inc. raised its position in shares of PNC Financial Services Group by 0.4% during the 2nd quarter. Moors & Cabot Inc. now owns 13,115 shares of the financial services provider’s stock worth $1,635,000 after purchasing an additional 56 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in shares of PNC Financial Services Group by 12.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 821 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 91 shares during the period. Institutional investors and hedge funds own 82.24% of the company’s stock.

In other news, insider Michael J. Hannon sold 8,011 shares of PNC Financial Services Group stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $154.20, for a total transaction of $1,235,296.20. Following the transaction, the insider now directly owns 58,820 shares in the company, valued at approximately $9,070,044. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider E William Parsley III sold 25,000 shares of PNC Financial Services Group stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $138.68, for a total value of $3,467,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 103,894 shares of company stock worth $14,897,513. 0.43% of the stock is owned by insiders.

A number of brokerages have recently weighed in on PNC. Zacks Investment Research upgraded PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $154.00 price target on the stock in a research report on Tuesday, October 31st. Royal Bank of Canada increased their price target on PNC Financial Services Group from $130.00 to $145.00 and gave the stock a “top pick” rating in a research report on Monday, October 16th. Credit Suisse Group increased their price target on PNC Financial Services Group from $135.00 to $137.00 and gave the stock a “neutral” rating in a research report on Monday, October 16th. Nomura increased their price target on PNC Financial Services Group from $132.00 to $135.00 and gave the stock a “neutral” rating in a research report on Monday, October 23rd. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $162.00 target price on shares of PNC Financial Services Group in a research report on Friday, December 29th. Eighteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $145.98.

Shares of PNC Financial Services Group Inc (NYSE PNC) opened at $149.38 on Friday. PNC Financial Services Group Inc has a 1 year low of $115.25 and a 1 year high of $160.07. The company has a market capitalization of $73,315.00, a P/E ratio of 18.21, a P/E/G ratio of 1.45 and a beta of 0.93. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.94 and a quick ratio of 0.93.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Friday, January 12th. The financial services provider reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.09. PNC Financial Services Group had a return on equity of 9.52% and a net margin of 29.60%. The company had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same period last year, the firm earned $1.97 EPS. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. equities analysts anticipate that PNC Financial Services Group Inc will post 10.38 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, February 5th. Stockholders of record on Wednesday, January 17th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Tuesday, January 16th. PNC Financial Services Group’s dividend payout ratio (DPR) is presently 28.85%.

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About PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

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

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