First National Bank of Mount Dora Trust Investment Services decreased its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,147 shares of the financial services provider’s stock after selling 862 shares during the period. First National Bank of Mount Dora Trust Investment Services’ holdings in The PNC Financial Services Group were worth $3,183,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of the stock. Koshinski Asset Management Inc. acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at approximately $249,000. Bard Financial Services Inc. bought a new position in The PNC Financial Services Group in the fourth quarter worth about $600,000. Legacy Wealth Asset Management LLC acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter worth approximately $836,000. Alpha DNA Investment Management LLC bought a new position in The PNC Financial Services Group during the 4th quarter worth $35,000. Finally, Curi Capital acquired a new stake in The PNC Financial Services Group in the fourth quarter worth $62,000. Institutional investors and hedge funds own 80.56% of the company’s stock.
A number of equities analysts recently issued reports on PNC shares. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $140.00 to $179.00 in a report on Monday, January 11th. Wells Fargo & Company boosted their price objective on The PNC Financial Services Group from $173.00 to $192.00 and gave the stock an “overweight” rating in a research note on Thursday, April 1st. Morgan Stanley boosted their price target on shares of The PNC Financial Services Group from $177.00 to $182.00 and gave the stock an “equal weight” rating in a research report on Monday, March 8th. Barclays boosted their target price on shares of The PNC Financial Services Group from $171.00 to $182.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods increased their price objective on The PNC Financial Services Group from $150.00 to $167.00 and gave the company a “market perform” rating in a research report on Monday, January 18th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $156.29.
The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Thursday, January 14th. The financial services provider reported $3.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.65 by $0.61. The PNC Financial Services Group had a return on equity of 5.97% and a net margin of 38.16%. The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same quarter last year, the firm posted $2.97 EPS. The company’s revenue was down 2.6% on a year-over-year basis. Sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 6.09 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 5th. Stockholders of record on Friday, April 16th will be issued a dividend of $1.15 per share. The ex-dividend date is Thursday, April 15th. This represents a $4.60 annualized dividend and a dividend yield of 2.62%. The PNC Financial Services Group’s payout ratio is 40.39%.
In other news, EVP Guild Deborah sold 3,840 shares of the business’s stock in a transaction that occurred on Tuesday, January 26th. The stock was sold at an average price of $151.37, for a total transaction of $581,260.80. Following the sale, the executive vice president now directly owns 18,804 shares in the company, valued at $2,846,361.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Karen L. Larrimer sold 3,205 shares of the company’s stock in a transaction on Friday, February 5th. The shares were sold at an average price of $156.92, for a total value of $502,928.60. Following the completion of the transaction, the executive vice president now owns 24,580 shares of the company’s stock, valued at $3,857,093.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,295 shares of company stock valued at $1,128,071. 0.30% of the stock is owned by corporate insiders.
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. The Retail Banking segment offers brokerage, insurance, and investment and cash management services; checking, savings, and money market accounts; certificates of deposits; and lending products, which includes residential mortgages, home equity loans and lines of credit, auto loans, education loans, and personal and small business loans, and credit cards to consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels.
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