First County Bank CT Trims Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

First County Bank CT decreased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 6,830 shares of the financial services provider’s stock after selling 323 shares during the period. First County Bank CT’s holdings in The PNC Financial Services Group were worth $1,317,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PNC. Concurrent Investment Advisors LLC increased its position in The PNC Financial Services Group by 45.6% during the third quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock worth $1,185,000 after purchasing an additional 2,009 shares during the last quarter. BSN CAPITAL PARTNERS Ltd acquired a new stake in shares of The PNC Financial Services Group during the 3rd quarter worth $12,548,000. Bleakley Financial Group LLC raised its position in shares of The PNC Financial Services Group by 9.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock worth $2,913,000 after buying an additional 1,299 shares during the period. Deerfield Management Company L.P. Series C acquired a new position in The PNC Financial Services Group in the second quarter valued at $822,000. Finally, Aljian Capital Management LLC purchased a new stake in The PNC Financial Services Group during the third quarter valued at about $839,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of research reports. Stephens raised their price objective on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock 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 company an “overweight” rating in a research report on Friday, November 15th. Morgan Stanley increased their price objective on shares of 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 lifted their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a report on Monday. Finally, Evercore ISI increased their price target on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Hold” and an average target price of $203.29.

Insider Buying and Selling

In related news, Director Martin Pfinsgraff sold 859 shares of the company’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total transaction of $159,877.08. Following the completion of the transaction, the director now directly owns 915 shares in the company, valued at $170,299.80. This represents a 48.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $190.57, for a total value of $236,687.94. Following the completion of the sale, the chief executive officer now owns 546,007 shares in the company, valued at $104,052,553.99. The trade was a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,272 shares of company stock worth $6,155,103 over the last ninety days. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Stock Down 0.1 %

NYSE PNC traded down $0.14 during trading hours on Tuesday, reaching $195.45. 1,476,632 shares of the company traded hands, compared to its average volume of 1,789,938. The stock has a market capitalization of $77.55 billion, a PE ratio of 16.52, a PEG ratio of 2.11 and a beta of 1.16. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The PNC Financial Services Group, Inc. has a 12 month low of $139.69 and a 12 month high of $216.26. The company has a 50 day moving average of $201.08 and a two-hundred day moving average of $184.87.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping the consensus estimate of $3.30 by $0.19. The business had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $3.60 earnings per share. As a group, equities analysts expect that The PNC Financial Services Group, Inc. will post 13.45 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 Wednesday, February 5th. Investors of record on Wednesday, January 15th will be given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

About The PNC Financial Services Group

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.