Bank of Montreal Can raised its stake in shares of PNC Financial Services Group Inc (NYSE:PNC) by 1.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,123,890 shares of the financial services provider’s stock after acquiring an additional 11,492 shares during the quarter. Bank of Montreal Can owned approximately 0.24% of PNC Financial Services Group worth $153,064,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of PNC. Braun Bostich & Associates Inc. bought a new position in PNC Financial Services Group during the 1st quarter valued at $105,000. Moneta Group Investment Advisors LLC acquired a new stake in shares of PNC Financial Services Group during the second quarter worth $143,000. Archford Capital Strategies LLC raised its holdings in shares of PNC Financial Services Group by 197.0% during the second quarter. Archford Capital Strategies LLC now owns 1,090 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 723 shares during the period. Landaas & Co. WI ADV acquired a new stake in shares of PNC Financial Services Group during the second quarter worth $147,000. Finally, McKinley Carter Wealth Services Inc. acquired a new stake in shares of PNC Financial Services Group during the first quarter worth $150,000. Hedge funds and other institutional investors own 79.83% of the company’s stock.
Shares of NYSE:PNC opened at $124.26 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.90 and a current ratio of 0.91. PNC Financial Services Group Inc has a 1-year low of $121.61 and a 1-year high of $163.59. The firm has a market cap of $63.23 billion, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 1.24 and a beta of 0.92.
PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Friday, October 12th. The financial services provider reported $2.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.73 by $0.09. PNC Financial Services Group had a net margin of 30.40% and a return on equity of 10.33%. During the same period in the previous year, the firm posted $2.16 EPS. As a group, equities research analysts anticipate that PNC Financial Services Group Inc will post 10.71 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 5th. Investors of record on Wednesday, October 17th will be issued a $0.95 dividend. The ex-dividend date is Tuesday, October 16th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.06%. PNC Financial Services Group’s dividend payout ratio (DPR) is presently 44.71%.
In related news, EVP Robert Q. Reilly sold 24,710 shares of the stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $140.49, for a total value of $3,471,507.90. Following the sale, the executive vice president now owns 131,020 shares of the company’s stock, valued at approximately $18,406,999.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Wyk Steven C. Van sold 15,000 shares of the stock in a transaction dated Tuesday, July 17th. The stock was sold at an average price of $141.09, for a total transaction of $2,116,350.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,957 shares of company stock worth $8,301,859. Corporate insiders own 0.38% of the company’s stock.
A number of brokerages have weighed in on PNC. Vining Sparks reissued a “buy” rating and set a $160.00 target price on shares of PNC Financial Services Group in a report on Tuesday. ValuEngine cut shares of PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $156.37.
About PNC Financial Services Group
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, 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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