Commerzbank Aktiengesellschaft FI Boosts Stock Position in The PNC Financial Services Group, Inc (NYSE:PNC)

Commerzbank Aktiengesellschaft FI boosted its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 47.0% in the first quarter, Holdings Channel.com reports. The fund owned 8,500 shares of the financial services provider’s stock after acquiring an additional 2,717 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in The PNC Financial Services Group were worth $1,495,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Cornerstone Planning Group LLC lifted its stake in shares of The PNC Financial Services Group by 50.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 65 shares during the last quarter. REAP Financial Group LLC lifted its stake in shares of The PNC Financial Services Group by 67.2% during the 4th quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 80 shares during the last quarter. Hoey Investments Inc. purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter worth $39,000. True Wealth Design LLC lifted its stake in shares of The PNC Financial Services Group by 41.5% during the 4th quarter. True Wealth Design LLC now owns 201 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 59 shares during the last quarter. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of The PNC Financial Services Group during the 1st quarter worth $35,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Up 1.1%

Shares of NYSE PNC opened at $196.09 on Friday. The company has a market capitalization of $77.57 billion, a price-to-earnings ratio of 13.41, a price-to-earnings-growth ratio of 1.54 and a beta of 1.07. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.80 and a quick ratio of 0.81. The business has a 50-day moving average of $181.79 and a two-hundred day moving average of $180.27. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, beating the consensus estimate of $3.56 by $0.29. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $5.61 billion. The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business earned $3.39 EPS. On average, analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th will be issued a $1.70 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.47%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.60. The PNC Financial Services Group’s dividend payout ratio is currently 48.02%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PNC shares. Bank of America upped their price objective on The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a “buy” rating in a research note on Thursday. Barclays decreased their price objective on The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. The Goldman Sachs Group upped their target price on The PNC Financial Services Group from $178.00 to $196.00 and gave the company a “neutral” rating in a research report on Wednesday, July 2nd. Citigroup upped their target price on The PNC Financial Services Group from $205.00 to $217.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Keefe, Bruyette & Woods raised The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and upped their target price for the company from $185.00 to $212.00 in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $212.76.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Kieran John Fallon sold 1,492 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $174.56, for a total transaction of $260,443.52. Following the sale, the executive vice president owned 20,490 shares in the company, valued at approximately $3,576,734.40. This represents a 6.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Martin Pfinsgraff bought 1,000 shares of the stock in a transaction on Friday, April 25th. The shares were bought at an average price of $158.22 per share, for a total transaction of $158,220.00. Following the acquisition, the director owned 2,009 shares in the company, valued at $317,863.98. The trade was a 99.11% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 9,545 shares of company stock worth $1,590,080 in the last quarter. Company insiders own 0.41% of the company’s stock.

The PNC Financial Services Group 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.