CNB Bank Sells 215 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

CNB Bank decreased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,768 shares of the financial services provider’s stock after selling 215 shares during the quarter. CNB Bank’s holdings in The PNC Financial Services Group were worth $697,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. DMC Group LLC grew its holdings in The PNC Financial Services Group by 24.0% during the 3rd quarter. DMC Group LLC now owns 3,016 shares of the financial services provider’s stock worth $558,000 after acquiring an additional 584 shares in the last quarter. Resonant Capital Advisors LLC lifted its position in shares of The PNC Financial Services Group by 0.3% in the 3rd quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider’s stock worth $3,148,000 after purchasing an additional 56 shares during the period. AA Financial Advisors LLC boosted its stake in shares of The PNC Financial Services Group by 6.0% during the third quarter. AA Financial Advisors LLC now owns 1,862 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 106 shares in the last quarter. Key Client Fiduciary Advisors LLC increased its holdings in The PNC Financial Services Group by 4.4% during the third quarter. Key Client Fiduciary Advisors LLC now owns 1,762 shares of the financial services provider’s stock valued at $326,000 after buying an additional 74 shares during the period. Finally, Commonwealth Equity Services LLC raised its stake in The PNC Financial Services Group by 1.9% in the third quarter. Commonwealth Equity Services LLC now owns 190,657 shares of the financial services provider’s stock worth $35,243,000 after buying an additional 3,621 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

PNC has been the topic of several recent research reports. Compass Point cut The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. UBS Group raised their price objective on The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods boosted their target price on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a report on Wednesday. Citigroup raised their price target on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Evercore ISI boosted their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $185.71.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $185.00, for a total value of $229,770.00. Following the sale, the chief executive officer now directly owns 547,249 shares of the company’s stock, valued at approximately $101,241,065. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $185.00, for a total transaction of $229,770.00. Following the transaction, the chief executive officer now directly owns 547,249 shares of the company’s stock, valued at $101,241,065. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Michael P. Lyons sold 11,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was 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 $36,151,670.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,420 shares of company stock valued at $4,223,131. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Trading Up 0.3 %

The PNC Financial Services Group stock opened at $189.38 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36. The firm has a market cap of $75.28 billion, a PE ratio of 15.86, a P/E/G ratio of 2.06 and a beta of 1.14. The stock’s 50 day simple moving average is $180.83 and its two-hundred day simple moving average is $167.20. 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 results 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 15.53% and a return on equity of 11.33%. The company had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same quarter last year, the business earned $3.60 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. Analysts anticipate that The PNC Financial Services Group, Inc. will post 13.18 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be paid a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.38%. The PNC Financial Services Group’s dividend payout ratio is presently 53.60%.

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.