Keybank National Association OH Decreases Holdings in The PNC Financial Services Group, Inc $PNC

Keybank National Association OH trimmed its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 3.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,466 shares of the financial services provider’s stock after selling 2,446 shares during the period. Keybank National Association OH’s holdings in The PNC Financial Services Group were worth $12,752,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. IMG Wealth Management Inc. acquired a new stake in shares of The PNC Financial Services Group in the 2nd quarter worth $27,000. Concord Wealth Partners boosted its holdings in The PNC Financial Services Group by 144.9% in the second quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 100 shares in the last quarter. Westfuller Advisors LLC purchased a new stake in shares of The PNC Financial Services Group during the third quarter worth about $34,000. FNY Investment Advisers LLC acquired a new position in shares of The PNC Financial Services Group during the second quarter valued at about $37,000. Finally, True Wealth Design LLC raised its position in shares of The PNC Financial Services Group by 1,133.3% in the 2nd quarter. True Wealth Design LLC now owns 222 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 204 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Keefe, Bruyette & Woods boosted their target price on shares of The PNC Financial Services Group from $228.00 to $247.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 20th. Wells Fargo & Company lifted their price objective on shares of The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Weiss Ratings reissued a “buy (b)” rating on shares of The PNC Financial Services Group in a report on Monday, December 22nd. Royal Bank Of Canada upped their target price on The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. Finally, Cfra Research raised The PNC Financial Services Group to a “moderate buy” rating in a research report on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $231.00.

Insider Buying and Selling

In related news, EVP Michael Duane Thomas sold 1,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total transaction of $183,570.00. Following the completion of the transaction, the executive vice president directly owned 5,802 shares in the company, valued at approximately $1,065,073.14. This trade represents a 14.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.41% of the stock is currently owned by company insiders.

The PNC Financial Services Group Stock Down 0.5%

NYSE:PNC opened at $223.33 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.81 and a quick ratio of 0.81. The company’s fifty day moving average price is $210.42 and its 200-day moving average price is $199.13. The PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-year high of $227.78. The firm has a market capitalization of $87.58 billion, a P/E ratio of 13.46, a PEG ratio of 0.94 and a beta of 0.99.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, beating the consensus estimate of $4.23 by $0.65. The company had revenue of $6.07 billion for the quarter, compared to analyst estimates of $5.90 billion. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The firm’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the company earned $3.77 earnings per share. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th will be paid a $1.70 dividend. The ex-dividend date is Tuesday, January 20th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.0%. The PNC Financial Services Group’s dividend payout ratio is presently 40.99%.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.