First Business Financial Services Inc. Sells 591 Shares of PNC Financial Services Group Inc (NYSE:PNC)

First Business Financial Services Inc. cut its stake in shares of PNC Financial Services Group Inc (NYSE:PNC) by 21.5% during the 3rd quarter, Holdings Channel reports. The fund owned 2,160 shares of the financial services provider’s stock after selling 591 shares during the period. First Business Financial Services Inc.’s holdings in PNC Financial Services Group were worth $303,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Institute for Wealth Management LLC. boosted its position in shares of PNC Financial Services Group by 3.6% in the second quarter. Institute for Wealth Management LLC. now owns 2,902 shares of the financial services provider’s stock valued at $398,000 after acquiring an additional 101 shares during the period. Moors & Cabot Inc. raised its holdings in shares of PNC Financial Services Group by 2.9% in the 2nd quarter. Moors & Cabot Inc. now owns 11,036 shares of the financial services provider’s stock valued at $1,510,000 after buying an additional 311 shares during the period. Joel Isaacson & Co. LLC raised its holdings in shares of PNC Financial Services Group by 31.8% in the 2nd quarter. Joel Isaacson & Co. LLC now owns 4,166 shares of the financial services provider’s stock valued at $572,000 after buying an additional 1,006 shares during the period. Park National Corp OH raised its holdings in shares of PNC Financial Services Group by 9.6% in the 2nd quarter. Park National Corp OH now owns 74,862 shares of the financial services provider’s stock valued at $10,277,000 after buying an additional 6,529 shares during the period. Finally, Tiverton Asset Management LLC raised its holdings in shares of PNC Financial Services Group by 21.4% in the 2nd quarter. Tiverton Asset Management LLC now owns 20,769 shares of the financial services provider’s stock valued at $2,851,000 after buying an additional 3,665 shares during the period. Hedge funds and other institutional investors own 80.68% of the company’s stock.

Several equities research analysts recently issued reports on PNC shares. Morgan Stanley boosted their price objective on PNC Financial Services Group from $141.00 to $157.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Wells Fargo & Co upped their price target on PNC Financial Services Group from $134.00 to $147.00 and gave the stock a “market perform” rating in a report on Thursday, October 17th. Zacks Investment Research downgraded PNC Financial Services Group from a “hold” rating to a “sell” rating and set a $147.00 price target on the stock. in a report on Tuesday, October 1st. UBS Group upped their price target on PNC Financial Services Group from $142.00 to $146.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Finally, ValuEngine upgraded PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $146.20.

In other PNC Financial Services Group news, Director Charles E. Bunch acquired 1,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was acquired at an average cost of $124.38 per share, with a total value of $124,380.00. Following the transaction, the director now owns 3,781 shares in the company, valued at approximately $470,280.78. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Joseph E. Rockey sold 10,000 shares of the company’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $145.00, for a total value of $1,450,000.00. Following the transaction, the executive vice president now directly owns 18,453 shares of the company’s stock, valued at $2,675,685. The disclosure for this sale can be found here. Corporate insiders own 0.37% of the company’s stock.

Shares of NYSE:PNC traded down $0.87 on Friday, hitting $152.20. 1,573,036 shares of the company’s stock were exchanged, compared to its average volume of 2,010,443. The firm’s 50-day moving average is $143.35 and its 200 day moving average is $136.47. The company has a market capitalization of $67.25 billion, a PE ratio of 14.21, a P/E/G ratio of 1.83 and a beta of 1.14. PNC Financial Services Group Inc has a 1-year low of $108.45 and a 1-year high of $154.75. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.87 and a current ratio of 0.88.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $2.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.80 by $0.14. The business had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.41 billion. PNC Financial Services Group had a return on equity of 10.94% and a net margin of 24.96%. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.82 EPS. On average, analysts anticipate that PNC Financial Services Group Inc will post 11.33 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Thursday, October 17th were given a dividend of $1.15 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $4.60 annualized dividend and a dividend yield of 3.02%. PNC Financial Services Group’s dividend payout ratio is currently 42.95%.

PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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