The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lessened its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 7.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 186,598 shares of the financial services provider’s stock after selling 15,339 shares during the period. Commonwealth Equity Services LLC’s holdings in The PNC Financial Services Group were worth $23,502,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Legacy Capital Group California Inc. lifted its stake in shares of The PNC Financial Services Group by 4.9% in the 2nd quarter. Legacy Capital Group California Inc. now owns 1,958 shares of the financial services provider’s stock worth $247,000 after acquiring an additional 92 shares during the period. Cary Street Partners Asset Management LLC increased its holdings in shares of The PNC Financial Services Group by 14.6% in the 2nd quarter. Cary Street Partners Asset Management LLC now owns 6,134 shares of the financial services provider’s stock valued at $773,000 after purchasing an additional 780 shares in the last quarter. Barr E S & Co. increased its holdings in shares of The PNC Financial Services Group by 3.0% in the 2nd quarter. Barr E S & Co. now owns 6,975 shares of the financial services provider’s stock valued at $879,000 after purchasing an additional 200 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of The PNC Financial Services Group by 3.9% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 88,451 shares of the financial services provider’s stock valued at $11,140,000 after purchasing an additional 3,308 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in shares of The PNC Financial Services Group by 119.4% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 5,729 shares of the financial services provider’s stock valued at $722,000 after purchasing an additional 3,118 shares in the last quarter. Institutional investors and hedge funds own 80.14% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC opened at $130.34 on Tuesday. The company has a 50-day simple moving average of $120.50 and a 200-day simple moving average of $123.00. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.82 and a quick ratio of 0.82. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $170.27. The company has a market cap of $51.92 billion, a PE ratio of 9.05, a price-to-earnings-growth ratio of 1.15 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Friday, October 13th. The financial services provider reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.50. The PNC Financial Services Group had a net margin of 20.39% and a return on equity of 12.91%. The business had revenue of $5.23 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same period last year, the company earned $3.78 earnings per share. The company’s quarterly revenue was down 5.7% on a year-over-year basis. On average, equities analysts anticipate that The PNC Financial Services Group, Inc. will post 13.86 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, November 5th. Investors of record on Tuesday, October 17th were given a $1.55 dividend. The ex-dividend date of this dividend was Monday, October 16th. This represents a $6.20 annualized dividend and a dividend yield of 4.76%. The PNC Financial Services Group’s dividend payout ratio is presently 43.03%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PNC. Bank of America upgraded shares of The PNC Financial Services Group from an “underperform” rating to a “neutral” rating in a report on Tuesday, October 10th. Morgan Stanley cut their price target on shares of The PNC Financial Services Group from $144.00 to $142.00 and set an “underweight” rating for the company in a report on Tuesday, October 3rd. HSBC initiated coverage on shares of The PNC Financial Services Group in a report on Thursday, September 7th. They issued a “reduce” rating and a $110.00 price target for the company. Stephens dropped their target price on shares of The PNC Financial Services Group from $143.00 to $138.00 and set an “equal weight” rating for the company in a report on Monday, October 16th. Finally, Jefferies Financial Group raised their target price on shares of The PNC Financial Services Group from $112.00 to $127.00 in a report on Tuesday, October 10th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $150.99.

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 certificates of 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.