Webster Bank N. A. Sells 567 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Webster Bank N. A. lessened its stake in The PNC Financial Services Group, Inc. (NYSE:PNCFree Report) by 4.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,131 shares of the financial services provider’s stock after selling 567 shares during the quarter. Webster Bank N. A.’s holdings in The PNC Financial Services Group were worth $2,033,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Independence Bank of Kentucky raised its holdings in The PNC Financial Services Group by 14.7% during the 4th quarter. Independence Bank of Kentucky now owns 2,070 shares of the financial services provider’s stock valued at $321,000 after acquiring an additional 265 shares during the period. Founders Capital Management LLC raised its holdings in The PNC Financial Services Group by 57.2% during the 4th quarter. Founders Capital Management LLC now owns 3,159 shares of the financial services provider’s stock valued at $489,000 after acquiring an additional 1,149 shares during the period. Regent Peak Wealth Advisors LLC bought a new stake in The PNC Financial Services Group during the 4th quarter valued at $231,000. TIAA Trust National Association raised its holdings in The PNC Financial Services Group by 41.1% during the 4th quarter. TIAA Trust National Association now owns 120,448 shares of the financial services provider’s stock valued at $18,651,000 after acquiring an additional 35,082 shares during the period. Finally, Insight Inv LLC raised its holdings in The PNC Financial Services Group by 0.8% during the 4th quarter. Insight Inv LLC now owns 10,219 shares of the financial services provider’s stock valued at $1,582,000 after acquiring an additional 85 shares during the period. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Down 0.3 %

PNC opened at $157.14 on Thursday. The business’s fifty day simple moving average is $150.98 and its 200 day simple moving average is $139.49. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $162.24. The stock has a market cap of $62.51 billion, a PE ratio of 12.29, a P/E/G ratio of 1.81 and a beta of 1.18. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.42.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last announced its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $1.04. The PNC Financial Services Group had a return on equity of 12.27% and a net margin of 17.50%. The firm had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.30 billion. During the same period last year, the firm earned $3.49 earnings per share. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. As a group, research analysts expect that The PNC Financial Services Group, Inc. will post 12.41 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.95%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 48.48%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and boosted their target price for the company from $141.00 to $155.00 in a report on Thursday, March 28th. Evercore ISI boosted their price target on shares of The PNC Financial Services Group from $180.00 to $184.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Morgan Stanley boosted their price target on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research report on Tuesday, January 30th. Keefe, Bruyette & Woods boosted their price target on shares of The PNC Financial Services Group from $125.00 to $145.00 and gave the company an “underperform” rating in a research report on Wednesday, January 3rd. Finally, The Goldman Sachs Group boosted their price target on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research report on Monday. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $154.18.

Get Our Latest Stock Report on The PNC Financial Services Group

Insider Activity

In other news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the transaction, the executive vice president now directly owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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