800,587 Shares in The PNC Financial Services Group, Inc $PNC Purchased by Fifth Third Bancorp

Fifth Third Bancorp bought a new position in The PNC Financial Services Group, Inc (NYSE:PNC) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 800,587 shares of the financial services provider’s stock, valued at approximately $177,938,000. Fifth Third Bancorp owned approximately 0.20% of The PNC Financial Services Group at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of PNC. BlackRock Inc. bought a new position in The PNC Financial Services Group in the 2nd quarter valued at $7,921,455,000. State Street Corp grew its holdings in shares of The PNC Financial Services Group by 4.3% during the second quarter. State Street Corp now owns 18,434,446 shares of the financial services provider’s stock worth $4,538,929,000 after purchasing an additional 765,097 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of The PNC Financial Services Group during the second quarter worth $2,102,631,000. Deutsche Bank AG bought a new stake in shares of The PNC Financial Services Group during the second quarter worth $1,054,189,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of The PNC Financial Services Group by 1.1% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,607,786 shares of the financial services provider’s stock worth $888,309,000 after purchasing an additional 39,112 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Performance

Shares of NYSE:PNC opened at $232.26 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.28. The PNC Financial Services Group, Inc has a 1-year low of $177.08 and a 1-year high of $258.96. The stock has a market capitalization of $92.15 billion, a P/E ratio of 12.09, a P/E/G ratio of 1.20 and a beta of 0.92. The business has a 50-day moving average price of $228.09 and a two-hundred day moving average price of $229.34.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Thursday, October 15th. The financial services provider reported $5.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.91 by $0.18. The PNC Financial Services Group had a net margin of 21.83% and a return on equity of 12.82%. The company had revenue of $6.60 billion for the quarter, compared to analyst estimates of $6.61 billion. During the same quarter last year, the firm earned $4.35 EPS. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. Equities analysts predict that The PNC Financial Services Group, Inc will post 19.24 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 5th. Shareholders of record on Wednesday, October 14th were paid a $2.00 dividend. The ex-dividend date of this dividend was Wednesday, October 14th. This represents a $8.00 dividend on an annualized basis and a yield of 3.4%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 42.58%.

Analysts Set New Price Targets

PNC has been the subject of a number of research analyst reports. UBS Group cut their price target on The PNC Financial Services Group from $286.00 to $278.00 and set a “buy” rating for the company in a report on Monday, November 2nd. Jefferies Financial Group decreased their price objective on shares of The PNC Financial Services Group from $305.00 to $280.00 and set a “buy” rating on the stock in a report on Thursday, September 24th. JPMorgan Chase & Co. increased their price objective on shares of The PNC Financial Services Group from $258.00 to $259.00 and gave the stock an “overweight” rating in a report on Friday, October 30th. Keefe, Bruyette & Woods lowered their price objective on shares of The PNC Financial Services Group from $260.00 to $250.00 and set a “market perform” rating for the company in a research report on Friday, October 16th. Finally, Raymond James Financial dropped their target price on shares of The PNC Financial Services Group from $275.00 to $255.00 and set an “outperform” rating for the company in a research note on Friday, October 16th. Seventeen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $266.04.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc. is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. It serves consumers, small businesses, corporations, government entities and institutional clients through a range of banking and financial services. PNC’s businesses include retail banking, corporate and institutional banking, and asset management. Its offerings include deposit accounts, lending, cash management, treasury services, investment and wealth management, and other financial products and services.