Czech National Bank Increases Stake in The PNC Financial Services Group, Inc $PNC

Czech National Bank raised its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 3.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 100,019 shares of the financial services provider’s stock after acquiring an additional 3,329 shares during the quarter. Czech National Bank’s holdings in The PNC Financial Services Group were worth $20,097,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Avior Wealth Management LLC boosted its holdings in The PNC Financial Services Group by 4.5% during the second quarter. Avior Wealth Management LLC now owns 1,213 shares of the financial services provider’s stock worth $226,000 after buying an additional 52 shares in the last quarter. Rockland Trust Co. grew its position in shares of The PNC Financial Services Group by 0.5% during the 2nd quarter. Rockland Trust Co. now owns 10,499 shares of the financial services provider’s stock valued at $1,957,000 after acquiring an additional 53 shares during the period. Almanack Investment Partners LLC. increased its stake in shares of The PNC Financial Services Group by 2.3% in the 2nd quarter. Almanack Investment Partners LLC. now owns 2,433 shares of the financial services provider’s stock valued at $454,000 after purchasing an additional 55 shares in the last quarter. Winthrop Capital Management LLC increased its stake in shares of The PNC Financial Services Group by 2.1% in the 2nd quarter. Winthrop Capital Management LLC now owns 2,619 shares of the financial services provider’s stock valued at $488,000 after purchasing an additional 55 shares in the last quarter. Finally, SCS Capital Management LLC raised its holdings in The PNC Financial Services Group by 0.6% in the 2nd quarter. SCS Capital Management LLC now owns 8,527 shares of the financial services provider’s stock worth $1,590,000 after purchasing an additional 55 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Down 0.4%

NYSE PNC opened at $209.54 on Friday. The business has a fifty day moving average price of $189.72 and a 200 day moving average price of $192.08. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $213.03. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $82.17 billion, a P/E ratio of 13.54, a P/E/G ratio of 1.18 and a beta of 1.01.

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

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th were paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, October 14th. The PNC Financial Services Group’s dividend payout ratio is currently 43.93%.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,000 shares of the company’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total value of $183,570.00. Following the completion of the sale, the executive vice president directly owned 5,802 shares in the company, valued at $1,065,073.14. This represents a 14.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Guild Deborah sold 1,080 shares of the firm’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $186.97, for a total value of $201,927.60. Following the completion of the sale, the executive vice president directly owned 27,335 shares of the company’s stock, valued at $5,110,824.95. This trade represents a 3.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.41% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PNC has been the subject of a number of recent analyst reports. Citigroup boosted their price objective on The PNC Financial Services Group from $217.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Stephens reissued an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a research note on Wednesday, September 10th. Raymond James Financial upped their price objective on shares of The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, September 19th. UBS Group increased their price objective on shares of The PNC Financial Services Group from $224.00 to $229.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $219.11.

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.