First National Trust Co Trims Stock Position in The PNC Financial Services Group, Inc $PNC

First National Trust Co lowered its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 2.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 17,734 shares of the financial services provider’s stock after selling 454 shares during the quarter. First National Trust Co’s holdings in The PNC Financial Services Group were worth $3,306,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Purkiss Capital Advisors LLC increased its position in shares of The PNC Financial Services Group by 54.8% during the 2nd quarter. Purkiss Capital Advisors LLC now owns 3,902 shares of the financial services provider’s stock valued at $728,000 after purchasing an additional 1,381 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of The PNC Financial Services Group by 23.3% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 61,883 shares of the financial services provider’s stock valued at $11,536,000 after purchasing an additional 11,700 shares during the last quarter. Advisory Alpha LLC purchased a new stake in shares of The PNC Financial Services Group during the 2nd quarter valued at about $336,000. SYM FINANCIAL Corp purchased a new stake in shares of The PNC Financial Services Group during the 2nd quarter valued at about $626,000. Finally, Transcend Capital Advisors LLC increased its position in shares of The PNC Financial Services Group by 22.2% during the 2nd quarter. Transcend Capital Advisors LLC now owns 3,903 shares of the financial services provider’s stock valued at $728,000 after purchasing an additional 709 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Down 1.0%

Shares of PNC opened at $183.09 on Wednesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $216.26. The company has a 50 day simple moving average of $196.84 and a two-hundred day simple moving average of $185.45. The firm has a market cap of $72.10 billion, a P/E ratio of 11.83, a price-to-earnings-growth ratio of 1.29 and a beta of 1.10.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.05 by $0.30. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The business had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.82 billion. During the same period last year, the firm posted $3.49 EPS. The company’s revenue was up 8.9% on a year-over-year basis. On average, equities analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th will be issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, October 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 43.93%.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,080 shares of the stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $186.97, for a total transaction of $201,927.60. Following the completion of the sale, the executive vice president directly owned 27,335 shares of the company’s stock, valued at $5,110,824.95. This trade represents a 3.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.41% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on PNC. Cfra Research raised shares of The PNC Financial Services Group to a “moderate buy” rating in a research report on Thursday, October 16th. Keefe, Bruyette & Woods raised shares of The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $185.00 to $212.00 in a report on Wednesday, July 9th. Wolfe Research reissued a “peer perform” rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. Raymond James Financial increased their target price on shares of The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, September 19th. Finally, Evercore ISI increased their target price on shares of The PNC Financial Services Group from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $218.47.

About The PNC Financial Services Group

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 time 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.