Morton Community Bank Cuts Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Morton Community Bank cut its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.3% during the fourth quarter, Holdings Channel reports. The firm owned 19,703 shares of the financial services provider’s stock after selling 60 shares during the quarter. Morton Community Bank’s holdings in The PNC Financial Services Group were worth $3,800,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PNC. Bank of New York Mellon Corp increased its stake in shares of The PNC Financial Services Group by 22.5% during the fourth quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider’s stock worth $746,435,000 after buying an additional 710,311 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of The PNC Financial Services Group by 88.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 585,431 shares of the financial services provider’s stock worth $108,217,000 after buying an additional 274,186 shares during the period. Toronto Dominion Bank increased its stake in shares of The PNC Financial Services Group by 129.3% during the third quarter. Toronto Dominion Bank now owns 447,755 shares of the financial services provider’s stock worth $82,768,000 after buying an additional 252,473 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth approximately $37,587,000. Finally, KBC Group NV increased its stake in shares of The PNC Financial Services Group by 214.4% during the fourth quarter. KBC Group NV now owns 271,588 shares of the financial services provider’s stock worth $52,375,000 after buying an additional 185,210 shares during the period. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Trading Up 0.4 %

Shares of PNC stock opened at $179.75 on Monday. The PNC Financial Services Group, Inc. has a fifty-two week low of $143.52 and a fifty-two week high of $216.26. The stock has a market cap of $71.14 billion, a P/E ratio of 13.07, a P/E/G ratio of 1.55 and a beta of 1.13. The business has a fifty day simple moving average of $194.20 and a 200-day simple moving average of $192.96. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter last year, the business posted $3.16 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is currently 46.55%.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $189.29, for a total transaction of $235,098.18. Following the sale, the chief executive officer now owns 530,039 shares of the company’s stock, valued at $100,331,082.31. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 12,420 shares of company stock valued at $2,421,788 over the last quarter. Insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Barclays upped their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Wells Fargo & Company upped their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Stephens reaffirmed an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a report on Friday, January 17th. Compass Point upped their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, The Goldman Sachs Group upped their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $205.00.

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.