The PNC Financial Services Group, Inc. (NYSE:PNC) Position Lessened by Abbrea Capital LLC

Abbrea Capital LLC lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,227 shares of the financial services provider’s stock after selling 155 shares during the quarter. Abbrea Capital LLC’s holdings in The PNC Financial Services Group were worth $809,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Steph & Co. grew its stake in The PNC Financial Services Group by 1.8% during the 4th quarter. Steph & Co. now owns 3,720 shares of the financial services provider’s stock worth $576,000 after buying an additional 67 shares during the last quarter. Bangor Savings Bank grew its stake in The PNC Financial Services Group by 1.2% during the 4th quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock worth $888,000 after buying an additional 69 shares during the last quarter. Oakworth Capital Inc. grew its stake in The PNC Financial Services Group by 11.7% during the 4th quarter. Oakworth Capital Inc. now owns 715 shares of the financial services provider’s stock worth $111,000 after buying an additional 75 shares during the last quarter. Caprock Group LLC grew its stake in The PNC Financial Services Group by 0.9% during the 4th quarter. Caprock Group LLC now owns 8,574 shares of the financial services provider’s stock worth $1,328,000 after buying an additional 79 shares during the last quarter. Finally, Legacy Advisors LLC grew its stake in The PNC Financial Services Group by 0.8% during the 3rd quarter. Legacy Advisors LLC now owns 10,902 shares of the financial services provider’s stock worth $1,338,000 after buying an additional 84 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock traded down $1.76 during trading on Thursday, hitting $156.30. The stock had a trading volume of 1,220,262 shares, compared to its average volume of 2,126,792. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $162.24. The firm has a market cap of $62.18 billion, a P/E ratio of 13.27, a PEG ratio of 1.78 and a beta of 1.18. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85. The business has a fifty day moving average of $152.48 and a two-hundred day moving average of $142.88.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The business had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the prior year, the business posted $3.98 earnings per share. The PNC Financial Services Group’s revenue was down 8.2% compared to the same quarter last year. On average, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 12.62 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.97%. The ex-dividend date is Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio is 52.06%.

Insider Activity

In other news, EVP Michael J. Hannon sold 3,000 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $148.82, for a total value of $446,460.00. Following the transaction, the executive vice president now owns 36,570 shares in the company, valued at approximately $5,442,347.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.42% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Thursday, April 18th. UBS Group increased their price target on The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. The Goldman Sachs Group increased their price target on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a research note on Monday, April 1st. Wells Fargo & Company increased their price target on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Finally, Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $152.00 price target on shares of The PNC Financial Services Group in a research note on Wednesday, April 17th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $156.63.

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.