AMG National Trust Bank Decreases Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

AMG National Trust Bank lowered its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 36.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,713 shares of the financial services provider’s stock after selling 3,923 shares during the period. AMG National Trust Bank’s holdings in The PNC Financial Services Group were worth $1,241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in PNC. Bank & Trust Co purchased a new position in The PNC Financial Services Group in the second quarter worth approximately $26,000. ORG Partners LLC grew its stake in shares of The PNC Financial Services Group by 203.7% during the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 110 shares in the last quarter. LRI Investments LLC purchased a new position in The PNC Financial Services Group in the first quarter valued at $28,000. Y.D. More Investments Ltd acquired a new stake in The PNC Financial Services Group in the second quarter valued at $33,000. Finally, Valley Wealth Managers Inc. lifted its holdings in The PNC Financial Services Group by 20,000.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Activity

In other news, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the sale, the director now directly owns 915 shares in the company, valued at $170,299.80. This represents a 48.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $176.15, for a total value of $218,778.30. Following the completion of the sale, the chief executive officer now directly owns 555,943 shares in the company, valued at approximately $97,929,359.45. The trade was a 0.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,788 shares of company stock worth $5,535,978 in the last 90 days. 0.42% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Morgan Stanley raised their target price on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 16th. Barclays raised their price objective on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Stephens upped their target price on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Wells Fargo & Company lifted their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Compass Point downgraded shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $186.96.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $206.83 on Tuesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $82.07 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 2.17 and a beta of 1.13. The business has a 50 day simple moving average of $188.73 and a 200-day simple moving average of $173.43. The PNC Financial Services Group, Inc. has a 12 month low of $127.08 and a 12 month high of $214.19.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The company had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.60 EPS. Equities analysts predict that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is 54.10%.

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.