AMG National Trust Bank Grows Position in The PNC Financial Services Group, Inc (NYSE:PNC)

AMG National Trust Bank raised its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 5.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,889 shares of the financial services provider’s stock after purchasing an additional 371 shares during the period. AMG National Trust Bank’s holdings in The PNC Financial Services Group were worth $1,211,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Cornerstone Planning Group LLC lifted its holdings in shares of The PNC Financial Services Group by 50.8% in the first quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after buying an additional 65 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in The PNC Financial Services Group in the 1st quarter worth approximately $35,000. REAP Financial Group LLC increased its holdings in shares of The PNC Financial Services Group by 67.2% in the fourth quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 80 shares during the period. Hoey Investments Inc. bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth $39,000. Finally, True Wealth Design LLC raised its position in shares of The PNC Financial Services Group by 41.5% in the fourth quarter. True Wealth Design LLC now owns 201 shares of the financial services provider’s stock worth $39,000 after buying an additional 59 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PNC. Morgan Stanley raised their price objective on shares of The PNC Financial Services Group from $179.00 to $186.00 and gave the company an “underweight” rating in a research report on Thursday. Barclays decreased their price objective on The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. JPMorgan Chase & Co. cut their target price on The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating for the company in a research note on Thursday, April 3rd. Wall Street Zen raised shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Royal Bank Of Canada lowered their price objective on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating for the company in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Moderate Buy” and an average price target of $212.76.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $196.54 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.80 and a debt-to-equity ratio of 1.05. The firm’s fifty day simple moving average is $182.39 and its 200 day simple moving average is $180.21. The stock has a market cap of $77.75 billion, a P/E ratio of 13.44, a price-to-earnings-growth ratio of 1.54 and a beta of 1.07. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.56 by $0.29. The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $5.61 billion. The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%. The business’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.39 EPS. As a group, research analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th will be paid a $1.70 dividend. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.60. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.80 dividend on an annualized basis and a yield of 3.46%. The PNC Financial Services Group’s payout ratio is presently 46.51%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Martin Pfinsgraff purchased 1,000 shares of the stock in a transaction dated Friday, April 25th. The shares were purchased at an average cost of $158.22 per share, with a total value of $158,220.00. Following the completion of the acquisition, the director directly owned 2,009 shares in the company, valued at $317,863.98. This trade represents a 99.11% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $169.75, for a total value of $210,829.50. Following the sale, the chief executive officer directly owned 554,879 shares in the company, valued at $94,190,710.25. This trade represents a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,545 shares of company stock valued at $1,590,080. 0.41% of the stock is owned by insiders.

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.