Community Trust & Investment Co. Takes $209,000 Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Community Trust & Investment Co. purchased a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,129 shares of the financial services provider’s stock, valued at approximately $209,000.

Other large investors have also modified their holdings of the company. BSN CAPITAL PARTNERS Ltd bought a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at about $12,548,000. Bleakley Financial Group LLC raised its stake in shares of The PNC Financial Services Group by 9.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock worth $2,913,000 after acquiring an additional 1,299 shares in the last quarter. Deerfield Management Company L.P. Series C bought a new position in shares of The PNC Financial Services Group during the 2nd quarter worth approximately $822,000. Equity Investment Corp raised its stake in shares of The PNC Financial Services Group by 3.4% during the 1st quarter. Equity Investment Corp now owns 682,532 shares of the financial services provider’s stock worth $110,297,000 after acquiring an additional 22,188 shares in the last quarter. Finally, Duality Advisers LP raised its stake in shares of The PNC Financial Services Group by 108.5% during the 1st quarter. Duality Advisers LP now owns 20,641 shares of the financial services provider’s stock worth $3,336,000 after acquiring an additional 10,743 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Up 0.3 %

PNC stock opened at $186.28 on Wednesday. The firm’s fifty day simple moving average is $181.56 and its 200-day simple moving average is $167.68. The company has a market capitalization of $74.05 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 2.02 and a beta of 1.14. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.82. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $196.64.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the prior year, the firm earned $3.60 EPS. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 13.3 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. The Goldman Sachs Group reduced their price objective on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Wells Fargo & Company boosted their price objective on shares of The PNC Financial Services Group from $204.00 to $215.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Stephens boosted their target price on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Royal Bank of Canada boosted their target price on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Finally, UBS Group boosted their target price on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $185.71.

Insider Buying and Selling

In related news, President Michael P. Lyons sold 11,000 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the sale, the president now directly owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the completion of the transaction, the president now directly owns 199,095 shares in the company, valued at approximately $36,151,670.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $190.57, for a total transaction of $236,687.94. Following the transaction, the chief executive officer now owns 546,007 shares of the company’s stock, valued at $104,052,553.99. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,662 shares of company stock valued at $4,459,819. Corporate insiders own 0.42% of the company’s stock.

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.