Bangor Savings Bank Sells 432 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Bangor Savings Bank lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 7.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,463 shares of the financial services provider’s stock after selling 432 shares during the quarter. Bangor Savings Bank’s holdings in The PNC Financial Services Group were worth $960,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in The PNC Financial Services Group by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 37,717,367 shares of the financial services provider’s stock worth $7,273,794,000 after acquiring an additional 268,827 shares during the last quarter. Franklin Resources Inc. grew its holdings in The PNC Financial Services Group by 5.3% during the 4th quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider’s stock worth $2,089,622,000 after acquiring an additional 549,278 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in The PNC Financial Services Group by 10.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider’s stock worth $1,453,763,000 after acquiring an additional 726,115 shares during the last quarter. Norges Bank bought a new stake in The PNC Financial Services Group during the 4th quarter worth about $1,352,151,000. Finally, Northern Trust Corp grew its holdings in The PNC Financial Services Group by 14.9% during the 4th quarter. Northern Trust Corp now owns 4,695,514 shares of the financial services provider’s stock worth $905,530,000 after acquiring an additional 608,375 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on PNC shares. Hsbc Global Res raised shares of The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 31st. JPMorgan Chase & Co. reduced their target price on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating on the stock in a research note on Thursday, April 3rd. Morgan Stanley reduced their target price on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 16th. HSBC raised shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and reduced their target price for the company from $206.00 to $202.00 in a research note on Monday, March 31st. Finally, Barclays reduced their target price on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $202.67.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Kieran John Fallon sold 1,492 shares of the business’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $174.56, for a total value of $260,443.52. Following the sale, the executive vice president now owns 20,490 shares of the company’s stock, valued at $3,576,734.40. The trade was a 6.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $171.15, for a total transaction of $212,568.30. Following the completion of the sale, the chief executive officer now directly owns 567,299 shares in the company, valued at approximately $97,093,223.85. This represents a 0.22% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,154 shares of company stock valued at $2,525,591. 0.41% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $178.72 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc. has a twelve month low of $145.12 and a twelve month high of $216.26. The firm’s 50 day moving average price is $165.16 and its two-hundred day moving average price is $183.42. The firm has a market cap of $70.70 billion, a P/E ratio of 13.00, a PEG ratio of 1.55 and a beta of 1.06.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating analysts’ consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. On average, analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group’s payout ratio is currently 45.20%.

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 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.