Maple Capital Management Inc. Sells 398 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Maple Capital Management Inc. lessened its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,383 shares of the financial services provider’s stock after selling 398 shares during the period. Maple Capital Management Inc.’s holdings in The PNC Financial Services Group were worth $1,180,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank & Trust Co bought a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at about $26,000. ORG Partners LLC lifted its holdings in shares of The PNC Financial Services Group by 203.7% in the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 110 shares during the last quarter. LRI Investments LLC bought a new position in shares of The PNC Financial Services Group in the 1st quarter valued at about $28,000. Palisade Asset Management LLC bought a new position in shares of The PNC Financial Services Group in the 1st quarter valued at about $29,000. Finally, Y.D. More Investments Ltd bought a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at about $33,000. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $184.80 on Tuesday. The company has a market cap of $73.53 billion, a price-to-earnings ratio of 15.59, a price-to-earnings-growth ratio of 2.06 and a beta of 1.14. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $196.64. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36. The company has a 50 day moving average of $181.20 and a two-hundred day moving average of $167.47.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.30 by $0.19. The company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm earned $3.60 earnings per share. As a group, analysts predict that The PNC Financial Services Group, Inc. will post 13.18 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be paid a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.46%. The PNC Financial Services Group’s payout ratio is currently 53.74%.

Insider Transactions at The PNC Financial Services Group

In other news, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the completion of the sale, the president now directly owns 199,095 shares in the company, valued at approximately $36,151,670.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the completion of the sale, the president now directly owns 199,095 shares in the company, valued at approximately $36,151,670.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $180.48, for a total transaction of $224,156.16. Following the transaction, the chief executive officer now directly owns 560,911 shares of the company’s stock, valued at approximately $101,233,217.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,662 shares of company stock worth $4,459,819. Company insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on PNC shares. Stephens increased their price target on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. Jefferies Financial Group increased their price objective on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Keefe, Bruyette & Woods increased their price objective on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. Finally, Citigroup increased their price objective on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $185.71.

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.