The PNC Financial Services Group, Inc $PNC Shares Sold by Huntington National Bank

Huntington National Bank lessened its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 5.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 80,403 shares of the financial services provider’s stock after selling 4,949 shares during the quarter. Huntington National Bank’s holdings in The PNC Financial Services Group were worth $16,783,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Quarry LP acquired a new position in shares of The PNC Financial Services Group in the 3rd quarter valued at about $25,000. Beacon Financial Strategies CORP acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $35,000. JPL Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group in the 3rd quarter valued at about $37,000. Financial Life Planners acquired a new position in shares of The PNC Financial Services Group in the 3rd quarter valued at about $39,000. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of The PNC Financial Services Group by 2,100.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 176 shares of the financial services provider’s stock valued at $39,000 after buying an additional 168 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on PNC. Jefferies Financial Group began coverage on The PNC Financial Services Group in a research note on Thursday, March 26th. They issued a “buy” rating and a $250.00 price target on the stock. Keefe, Bruyette & Woods raised their price target on The PNC Financial Services Group from $247.00 to $253.00 and gave the company a “market perform” rating in a research note on Thursday, April 16th. Citigroup raised their price target on The PNC Financial Services Group from $245.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Weiss Ratings restated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Friday, March 27th. Finally, Morgan Stanley raised their price target on The PNC Financial Services Group from $263.00 to $267.00 and gave the company an “equal weight” rating in a research note on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $243.11.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $220.86 on Thursday. The stock’s 50-day moving average is $215.54 and its two-hundred day moving average is $212.73. The firm has a market cap of $88.69 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 0.92 and a beta of 0.94. The PNC Financial Services Group, Inc has a 1 year low of $170.49 and a 1 year high of $243.94. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.92 by $0.40. The company had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The business’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the company posted $3.51 earnings per share. Analysts predict that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were issued a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $6.80 annualized dividend and a dividend yield of 3.1%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 39.51%.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.