Commerzbank Aktiengesellschaft FI Invests $2.71 Million in The PNC Financial Services Group, Inc $PNC

Commerzbank Aktiengesellschaft FI acquired a new stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,010 shares of the financial services provider’s stock, valued at approximately $2,711,000.

A number of other institutional investors also recently bought and sold shares of PNC. Phillips Wealth Planners LLC acquired a new stake in The PNC Financial Services Group during the second quarter valued at $1,403,000. Trust Co. of Vermont purchased a new position in The PNC Financial Services Group in the 2nd quarter valued at about $890,000. Principle Wealth Partners LLC acquired a new stake in The PNC Financial Services Group in the 2nd quarter worth about $5,839,000. UP Strategic Wealth Investment Advisors LLC acquired a new stake in The PNC Financial Services Group in the 2nd quarter worth about $211,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in The PNC Financial Services Group during the 2nd quarter worth approximately $241,013,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on PNC. Argus raised their target price on The PNC Financial Services Group from $250.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Robert W. Baird boosted their price target on The PNC Financial Services Group from $250.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. UBS Group increased their price objective on The PNC Financial Services Group from $263.00 to $288.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Barclays lifted their target price on shares of The PNC Financial Services Group from $277.00 to $284.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Finally, Morgan Stanley upped their target price on shares of The PNC Financial Services Group from $267.00 to $278.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $265.73.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $254.65 on Tuesday. The business’s 50 day moving average price is $247.28 and its 200 day moving average price is $228.73. The company has a market cap of $101.59 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 1.02 and a beta of 0.91. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.84 and a current ratio of 0.85. The PNC Financial Services Group, Inc has a one year low of $176.88 and a one year high of $258.96.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.46 by $0.39. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The business had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.51 billion. During the same period last year, the company earned $3.85 EPS. The company’s revenue for the quarter was up 21.4% on a year-over-year basis. On average, research analysts predict that The PNC Financial Services Group, Inc will post 19.25 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 5th. Investors of record on Monday, July 20th were issued a $2.00 dividend. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.70. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Monday, July 20th. The PNC Financial Services Group’s payout ratio is currently 44.03%.

Insider Activity

In other news, EVP Stephanie Novosel sold 1,800 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the sale, the executive vice president owned 3,107 shares of the company’s stock, valued at $710,664.11. This represents a 36.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Stacy M. Juchno sold 3,354 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $255.84, for a total transaction of $858,087.36. Following the sale, the executive vice president owned 18,800 shares of the company’s stock, valued at $4,809,792. This represents a 15.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 51,654 shares of company stock valued at $11,552,661 in the last ninety days. 0.38% of the stock is currently owned by company insiders.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.