National Bank of Canada FI Trims Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

National Bank of Canada FI trimmed its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 105,932 shares of the financial services provider’s stock after selling 3,148 shares during the period. National Bank of Canada FI’s holdings in The PNC Financial Services Group were worth $16,578,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PNC. OFI Invest Asset Management purchased a new stake in shares of The PNC Financial Services Group in the third quarter worth about $25,000. BKM Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $26,000. Tennessee Valley Asset Management Partners acquired a new stake in The PNC Financial Services Group during the fourth quarter valued at $26,000. Fortitude Family Office LLC acquired a new position in shares of The PNC Financial Services Group in the fourth quarter worth about $28,000. Finally, Householder Group Estate & Retirement Specialist LLC boosted its position in The PNC Financial Services Group by 350.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $156.15 on Wednesday. The firm has a market cap of $62.12 billion, a P/E ratio of 13.11, a P/E/G ratio of 1.77 and a beta of 1.16. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $162.24. The firm’s 50 day moving average price is $154.02 and its 200-day moving average price is $145.39.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.01. The firm had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The company’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.98 EPS. As a group, equities research analysts predict that The PNC Financial Services Group, Inc. will post 12.64 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were issued a dividend of $1.55 per share. The ex-dividend date was Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.97%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.

Wall Street Analyst Weigh In

PNC has been the topic of a number of recent analyst reports. UBS Group increased their target price on The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a research report on Thursday, January 18th. Morgan Stanley raised their target price on The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research report on Tuesday, January 30th. Evercore ISI decreased their price objective on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $152.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Finally, Wells Fargo & Company increased their price objective on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $157.02.

Insiders Place Their Bets

In related news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction on Monday, February 12th. The stock was sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the transaction, the executive vice president now directly owns 36,570 shares in the company, valued at $5,442,347.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.42% of the company’s stock.

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.