The PNC Financial Services Group, Inc. (NYSE:PNC) Stock Position Lessened by Provident Trust Co.

Provident Trust Co. reduced its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,143,412 shares of the financial services provider’s stock after selling 16,360 shares during the period. The PNC Financial Services Group accounts for about 6.8% of Provident Trust Co.’s holdings, making the stock its 6th biggest position. Provident Trust Co.’s holdings in The PNC Financial Services Group were worth $331,907,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Steph & Co. grew its position in shares of The PNC Financial Services Group by 1.8% in the fourth quarter. Steph & Co. now owns 3,720 shares of the financial services provider’s stock valued at $576,000 after purchasing an additional 67 shares during the period. Bangor Savings Bank increased its stake in shares of The PNC Financial Services Group by 1.2% during the 4th quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock valued at $888,000 after acquiring an additional 69 shares during the last quarter. Oakworth Capital Inc. lifted its holdings in shares of The PNC Financial Services Group by 11.7% during the 4th quarter. Oakworth Capital Inc. now owns 715 shares of the financial services provider’s stock worth $111,000 after acquiring an additional 75 shares during the period. Caprock Group LLC lifted its holdings in shares of The PNC Financial Services Group by 0.9% during the 4th quarter. Caprock Group LLC now owns 8,574 shares of the financial services provider’s stock worth $1,328,000 after acquiring an additional 79 shares during the period. Finally, Legacy Advisors LLC boosted its position in shares of The PNC Financial Services Group by 0.8% in the third quarter. Legacy Advisors LLC now owns 10,902 shares of the financial services provider’s stock worth $1,338,000 after acquiring an additional 84 shares during 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 %

NYSE:PNC traded down $0.19 on Friday, reaching $156.11. The stock had a trading volume of 979,208 shares, compared to its average volume of 1,683,569. The company has a 50-day moving average of $152.76 and a 200 day moving average of $143.22. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42. The stock has a market cap of $62.10 billion, a P/E ratio of 13.11, a price-to-earnings-growth ratio of 1.76 and a beta of 1.18. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The business had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the previous year, the firm posted $3.98 earnings per share. The company’s revenue was down 8.2% compared to the same quarter last year. On average, research analysts predict that The PNC Financial Services Group, Inc. will post 12.65 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.97%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the completion of the transaction, the executive vice president now directly owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.42% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on PNC shares. HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and upped their price target for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. Wells Fargo & Company lifted their target price on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Bank of America increased their target price on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. StockNews.com cut shares of The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Evercore ISI dropped their price objective on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $156.63.

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 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.