Banco Bilbao Vizcaya Argentaria S.A. Sells 32,942 Shares of The PNC Financial Services Group, Inc $PNC

Banco Bilbao Vizcaya Argentaria S.A. decreased its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 78.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 8,856 shares of the financial services provider’s stock after selling 32,942 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in The PNC Financial Services Group were worth $1,652,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Intrua Financial LLC increased its position in shares of The PNC Financial Services Group by 61.0% in the second quarter. Intrua Financial LLC now owns 2,157 shares of the financial services provider’s stock worth $402,000 after purchasing an additional 817 shares during the last quarter. D Orazio & Associates Inc. raised its stake in The PNC Financial Services Group by 8.0% in the second quarter. D Orazio & Associates Inc. now owns 2,195 shares of the financial services provider’s stock worth $409,000 after buying an additional 163 shares in the last quarter. ABN Amro Investment Solutions purchased a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at approximately $7,415,000. Police & Firemen s Retirement System of New Jersey boosted its stake in The PNC Financial Services Group by 4.2% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 60,100 shares of the financial services provider’s stock worth $11,204,000 after acquiring an additional 2,406 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in The PNC Financial Services Group by 1.1% in the second quarter. Geode Capital Management LLC now owns 8,777,313 shares of the financial services provider’s stock worth $1,628,302,000 after acquiring an additional 93,346 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

PNC has been the topic of a number of research analyst reports. Morgan Stanley upped their price target on The PNC Financial Services Group from $186.00 to $206.00 and gave the company an “underweight” rating in a report on Monday, September 29th. Oppenheimer reaffirmed an “outperform” rating and set a $240.00 target price (up from $235.00) on shares of The PNC Financial Services Group in a research note on Thursday, October 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Wednesday, October 8th. Cfra Research upgraded shares of The PNC Financial Services Group to a “moderate buy” rating in a report on Thursday, October 16th. Finally, Evercore ISI upped their target price on shares of The PNC Financial Services Group from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, The PNC Financial Services Group has an average rating of “Moderate Buy” and a consensus price target of $218.47.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $183.88 on Monday. The company has a market capitalization of $72.11 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 1.26 and a beta of 1.12. The business’s 50-day moving average price is $191.69 and its 200 day moving average price is $188.23. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.06.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, topping analysts’ consensus estimates of $4.05 by $0.30. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The business had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.82 billion. During the same period in the prior year, the firm posted $3.49 EPS. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, research analysts predict that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th were given a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, October 14th. This represents a $6.80 annualized dividend and a yield of 3.7%. The PNC Financial Services Group’s payout ratio is 43.93%.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Guild Deborah sold 1,080 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $186.97, for a total transaction of $201,927.60. Following the sale, the executive vice president directly owned 27,335 shares of the company’s stock, valued at approximately $5,110,824.95. This represents a 3.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael Duane Thomas sold 1,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total value of $183,570.00. Following the completion of the transaction, the executive vice president owned 5,802 shares of the company’s stock, valued at approximately $1,065,073.14. The trade was a 14.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 2,151 shares of company stock valued at $400,092. 0.41% of the stock is currently owned by corporate insiders.

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.