The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by National Bank of Canada FI

National Bank of Canada FI increased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNCGet Rating) by 290.7% in the first quarter, Holdings Channel reports. The firm owned 10,536 shares of the financial services provider’s stock after buying an additional 7,839 shares during the quarter. National Bank of Canada FI’s holdings in The PNC Financial Services Group were worth $1,900,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of PNC. Inverness Counsel LLC NY raised its position in The PNC Financial Services Group by 0.6% during the 1st quarter. Inverness Counsel LLC NY now owns 125,930 shares of the financial services provider’s stock worth $23,228,000 after buying an additional 762 shares during the last quarter. MCF Advisors LLC purchased a new position in The PNC Financial Services Group during the 1st quarter worth $357,000. New York State Common Retirement Fund raised its position in The PNC Financial Services Group by 0.9% during the 1st quarter. New York State Common Retirement Fund now owns 913,607 shares of the financial services provider’s stock worth $168,515,000 after buying an additional 8,350 shares during the last quarter. Wilbanks Smith & Thomas Asset Management LLC raised its position in The PNC Financial Services Group by 3.4% during the 1st quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 21,030 shares of the financial services provider’s stock worth $3,568,000 after buying an additional 689 shares during the last quarter. Finally, Savant Capital LLC raised its position in The PNC Financial Services Group by 7.3% during the 1st quarter. Savant Capital LLC now owns 4,868 shares of the financial services provider’s stock worth $898,000 after buying an additional 331 shares during the last quarter. Institutional investors and hedge funds own 83.54% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on PNC. Citigroup cut their price objective on shares of The PNC Financial Services Group from $190.00 to $170.00 in a research report on Tuesday, July 12th. Barclays cut their price target on shares of The PNC Financial Services Group from $250.00 to $222.00 and set an “overweight” rating for the company in a report on Monday, July 18th. Wolfe Research cut their price target on shares of The PNC Financial Services Group from $223.00 to $177.00 and set an “outperform” rating for the company in a report on Thursday, May 26th. Wells Fargo & Company cut their price target on shares of The PNC Financial Services Group from $227.00 to $202.00 and set an “overweight” rating for the company in a report on Friday, July 1st. Finally, Jefferies Financial Group cut their price target on shares of The PNC Financial Services Group from $188.00 to $156.00 in a report on Monday, July 11th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average target price of $197.63.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $167.04 on Friday. The PNC Financial Services Group, Inc. has a 12-month low of $146.39 and a 12-month high of $228.14. The stock has a market capitalization of $69.08 billion, a P/E ratio of 13.07, a P/E/G ratio of 2.43 and a beta of 1.21. The firm’s 50-day moving average is $161.81 and its two-hundred day moving average is $177.72. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.75 and a quick ratio of 0.74.

The PNC Financial Services Group (NYSE:PNCGet Rating) last released its quarterly earnings results on Friday, July 15th. The financial services provider reported $3.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.11 by $0.31. The PNC Financial Services Group had a net margin of 27.32% and a return on equity of 11.93%. The company had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.13 billion. During the same period last year, the company earned $4.50 EPS. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. Equities analysts predict that The PNC Financial Services Group, Inc. will post 14.48 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 5th. Shareholders of record on Wednesday, July 13th were paid a dividend of $1.50 per share. The ex-dividend date of this dividend was Tuesday, July 12th. This represents a $6.00 annualized dividend and a dividend yield of 3.59%. The PNC Financial Services Group’s dividend payout ratio is currently 46.95%.

About The PNC Financial Services Group

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The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. 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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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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