US Bancorp DE Trims Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

US Bancorp DE cut its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 314,791 shares of the financial services provider’s stock after selling 12,982 shares during the quarter. US Bancorp DE’s holdings in The PNC Financial Services Group were worth $48,745,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. BKM Wealth Management LLC bought a new stake in The PNC Financial Services Group during the fourth quarter valued at $26,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at about $26,000. Householder Group Estate & Retirement Specialist LLC boosted its position in shares of The PNC Financial Services Group by 350.0% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 140 shares during the last quarter. Fortitude Family Office LLC purchased a new position in shares of The PNC Financial Services Group during the fourth quarter worth about $28,000. Finally, Criterion Capital Advisors LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth approximately $32,000. 83.53% of the stock is owned by institutional investors.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the transaction, the executive vice president now directly owns 3,502 shares of the company’s stock, valued at approximately $545,856.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Trading Up 1.0 %

The PNC Financial Services Group stock traded up $1.49 during trading hours on Friday, reaching $154.26. The stock had a trading volume of 1,486,425 shares, compared to its average volume of 1,284,169. The company has a fifty day simple moving average of $155.95 and a 200-day simple moving average of $148.84. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $162.24. The stock has a market cap of $61.38 billion, a PE ratio of 12.95, a PEG ratio of 2.95 and a beta of 1.16. 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 PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.01. The company had revenue of $5.15 billion for the quarter, compared to analysts’ expectations 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 PNC Financial Services Group’s quarterly revenue was down 8.2% on a year-over-year basis. During the same period last year, the firm earned $3.98 earnings per share. Analysts forecast that The PNC Financial Services Group, Inc. will post 12.63 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Monday, April 15th were issued a dividend of $1.55 per share. The ex-dividend date of this dividend was Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.02%. The PNC Financial Services Group’s dividend payout ratio is presently 52.06%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Jefferies Financial Group dropped their target price on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a research report on Wednesday, April 17th. Bank of America upped their target price on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. StockNews.com downgraded The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Tuesday. The Goldman Sachs Group upped their price objective on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. Finally, HSBC raised The PNC Financial Services Group from a “reduce” rating to a “hold” rating and raised their price objective for the company from $141.00 to $155.00 in a report on Thursday, March 28th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $157.02.

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.