Penobscot Investment Management Company Inc. acquired a new position in The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 7,493 shares of the financial services provider’s stock, valued at approximately $920,000.
Other large investors have also added to or reduced their stakes in the company. Comerica Bank bought a new position in shares of The PNC Financial Services Group during the 2nd quarter valued at approximately $5,594,000. EA Series Trust bought a new position in shares of The PNC Financial Services Group during the 2nd quarter valued at approximately $440,000. Gradient Investments LLC increased its position in shares of The PNC Financial Services Group by 59.9% during the 3rd quarter. Gradient Investments LLC now owns 635 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 238 shares during the last quarter. Handelsbanken Fonder AB increased its position in shares of The PNC Financial Services Group by 1.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 109,318 shares of the financial services provider’s stock valued at $13,769,000 after purchasing an additional 1,098 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of The PNC Financial Services Group by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 7,369,554 shares of the financial services provider’s stock valued at $925,399,000 after purchasing an additional 150,470 shares during the last quarter. Institutional investors own 80.14% of the company’s stock.
Wall Street Analyst Weigh In
PNC has been the topic of several analyst reports. The Goldman Sachs Group boosted their target price on The PNC Financial Services Group from $128.00 to $147.00 and gave the company a “neutral” rating in a research report on Tuesday, December 19th. Morgan Stanley boosted their price objective on The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a report on Tuesday, January 30th. StockNews.com cut The PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Friday, November 17th. Royal Bank of Canada restated an “outperform” rating and set a $140.00 price objective on shares of The PNC Financial Services Group in a report on Tuesday, October 24th. Finally, Bank of America upgraded The PNC Financial Services Group from an “underperform” rating to a “neutral” rating in a report on Tuesday, October 10th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $146.59.
View Our Latest Stock Analysis on PNC
Insider Activity at The PNC Financial Services Group
In related news, EVP Guild Deborah sold 1,533 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $132.51, for a total transaction of $203,137.83. Following the transaction, the executive vice president now directly owns 17,092 shares of the company’s stock, valued at approximately $2,264,860.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.39% of the stock is currently owned by corporate insiders.
The PNC Financial Services Group Trading Up 1.8 %
Shares of NYSE PNC opened at $148.13 on Friday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $59.01 billion, a P/E ratio of 11.58, a price-to-earnings-growth ratio of 1.72 and a beta of 1.19. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $167.12. The business has a fifty day moving average price of $148.36 and a 200 day moving average price of $132.03.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last issued its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $1.04. The firm had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.30 billion. The PNC Financial Services Group had a return on equity of 12.27% and a net margin of 17.50%. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.49 EPS. Equities research analysts expect that The PNC Financial Services Group, Inc. will post 12.29 EPS for the current fiscal year.
The PNC Financial Services Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 5th. Investors of record on Tuesday, January 16th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 4.19%. The ex-dividend date is Friday, January 12th. The PNC Financial Services Group’s dividend payout ratio is currently 48.48%.
The PNC Financial Services Group Company Profile
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company’s Retail Banking segment offers checking, savings, and money market accounts, as well as certificates of deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.
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