The PNC Financial Services Group, Inc $PNC Shares Sold by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. decreased its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 3.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,441,275 shares of the financial services provider’s stock after selling 48,754 shares during the period. The PNC Financial Services Group accounts for 1.4% of Bahl & Gaynor Inc.’s investment portfolio, making the stock its 19th biggest position. Bahl & Gaynor Inc. owned approximately 0.37% of The PNC Financial Services Group worth $289,595,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kennebec Savings Bank raised its position in shares of The PNC Financial Services Group by 1.6% in the third quarter. Kennebec Savings Bank now owns 3,424 shares of the financial services provider’s stock valued at $688,000 after buying an additional 54 shares during the last quarter. Winthrop Capital Management LLC boosted its holdings in shares of The PNC Financial Services Group by 2.1% during the second quarter. Winthrop Capital Management LLC now owns 2,619 shares of the financial services provider’s stock worth $488,000 after purchasing an additional 55 shares during the last quarter. SCS Capital Management LLC boosted its holdings in shares of The PNC Financial Services Group by 0.6% during 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 during the last quarter. Webster Bank N. A. increased its stake in The PNC Financial Services Group by 0.5% in 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 purchasing an additional 55 shares during the last quarter. Finally, YANKCOM Partnership lifted its position in The PNC Financial Services Group by 2.3% during the third quarter. YANKCOM Partnership now owns 2,537 shares of the financial services provider’s stock worth $510,000 after buying an additional 57 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Louis Robert Cestello sold 4,279 shares of the stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $234.01, for a total transaction of $1,001,328.79. Following the completion of the transaction, the executive vice president directly owned 18,867 shares in the company, valued at approximately $4,415,066.67. This represents a 18.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 50,000 shares of the stock in a transaction on Friday, February 20th. The shares were sold at an average price of $230.88, for a total transaction of $11,544,000.00. Following the transaction, the chief executive officer owned 554,274 shares in the company, valued at $127,970,781.12. This trade represents a 8.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 64,186 shares of company stock valued at $14,840,973 over the last 90 days. 0.41% of the stock is owned by company insiders.

The PNC Financial Services Group Trading Down 4.9%

NYSE PNC opened at $211.85 on Monday. The stock has a market cap of $85.46 billion, a P/E ratio of 12.77, a PEG ratio of 0.89 and a beta of 0.98. The company’s fifty day simple moving average is $222.28 and its 200-day simple moving average is $204.52. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.90. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, beating analysts’ consensus estimates of $4.23 by $0.65. The business had revenue of $6.07 billion during 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 business’s revenue was up 9.1% on a year-over-year basis. During the same period last year, the business earned $3.77 EPS. Equities research analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th were paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 40.99%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. TD Cowen upped their price objective on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Keefe, Bruyette & Woods lifted their price target on shares of The PNC Financial Services Group from $228.00 to $247.00 and gave the company a “market perform” rating in a report on Tuesday, January 20th. Oppenheimer lifted their target price on The PNC Financial Services Group from $268.00 to $284.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Royal Bank Of Canada upped their price target on The PNC Financial Services Group from $222.00 to $235.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of The PNC Financial Services Group in a report on Monday, December 22nd. Fifteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $234.44.

The PNC Financial Services Group Company 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.