Fifth Third Bancorp Sells 4,549 Shares of The PNC Financial Services Group, Inc $PNC

Fifth Third Bancorp decreased its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 0.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 716,412 shares of the financial services provider’s stock after selling 4,549 shares during the period. Fifth Third Bancorp owned about 0.18% of The PNC Financial Services Group worth $143,949,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of PNC. Kennebec Savings Bank lifted its stake in shares of The PNC Financial Services Group by 1.6% during the 3rd quarter. Kennebec Savings Bank now owns 3,424 shares of the financial services provider’s stock worth $688,000 after purchasing an additional 54 shares during the last quarter. Winthrop Capital Management LLC grew its stake in The PNC Financial Services Group by 2.1% in the second quarter. Winthrop Capital Management LLC now owns 2,619 shares of the financial services provider’s stock valued at $488,000 after purchasing an additional 55 shares during the last quarter. SCS Capital Management LLC raised its holdings in The PNC Financial Services Group by 0.6% in the second quarter. SCS Capital Management LLC now owns 8,527 shares of the financial services provider’s stock worth $1,590,000 after purchasing an additional 55 shares in the last quarter. Webster Bank N. A. lifted its position in shares of The PNC Financial Services Group by 0.5% during the third quarter. Webster Bank N. A. now owns 10,975 shares of the financial services provider’s stock valued at $2,205,000 after buying an additional 55 shares during the last quarter. Finally, YANKCOM Partnership boosted its holdings in shares of The PNC Financial Services Group by 2.3% in the 3rd quarter. YANKCOM Partnership now owns 2,537 shares of the financial services provider’s stock valued at $510,000 after buying an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Down 0.1%

PNC stock opened at $229.54 on Monday. The company has a market capitalization of $90.02 billion, a P/E ratio of 13.84, a price-to-earnings-growth ratio of 0.96 and a beta of 0.99. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $243.94. The firm’s fifty day simple moving average is $218.84 and its 200-day simple moving average is $201.99. 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 PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.23 by $0.65. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The company had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $5.90 billion. During the same period in the previous year, the firm posted $3.77 earnings per share. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 40.99%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Oppenheimer boosted their price objective on shares of The PNC Financial Services Group from $268.00 to $284.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. Keefe, Bruyette & Woods upped their target price on The PNC Financial Services Group from $228.00 to $247.00 and gave the company a “market perform” rating in a research report on Tuesday, January 20th. JPMorgan Chase & Co. boosted their price target on The PNC Financial Services Group from $228.50 to $251.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. Royal Bank Of Canada increased their price objective on shares of 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, Weiss Ratings reissued a “buy (b)” rating on shares of The PNC Financial Services Group in a research report on Monday, December 22nd. Fifteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $234.44.

The PNC Financial Services Group Profile

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.