The PNC Financial Services Group, Inc $PNC Shares Sold by Leeward Financial Partners LLC

Leeward Financial Partners LLC cut its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 73.1% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 3,516 shares of the financial services provider’s stock after selling 9,552 shares during the period. Leeward Financial Partners LLC’s holdings in The PNC Financial Services Group were worth $655,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in PNC. Saudi Central Bank acquired a new stake in shares of The PNC Financial Services Group in the first quarter valued at about $27,000. IMG Wealth Management Inc. acquired a new stake in shares of The PNC Financial Services Group in the second quarter valued at about $27,000. Concord Wealth Partners raised its position in shares of The PNC Financial Services Group by 144.9% in the second quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock valued at $32,000 after buying an additional 100 shares during the last quarter. Cornerstone Planning Group LLC raised its position 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 valued at $34,000 after buying an additional 65 shares during the last quarter. Finally, WPG Advisers LLC acquired a new stake in shares of The PNC Financial Services Group in the first quarter valued at about $36,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Evercore ISI increased their target price on shares of The PNC Financial Services Group from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Bank of America increased their target price on shares of The PNC Financial Services Group from $223.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. Morgan Stanley upped their price objective on shares of 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 reissued an “outperform” rating and issued a $240.00 price objective (up previously from $235.00) on shares of The PNC Financial Services Group in a report on Thursday, October 16th. Finally, Stephens reissued an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday, September 10th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $218.47.

Insiders Place Their Bets

In related news, EVP Guild Deborah sold 1,080 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $186.97, for a total value of $201,927.60. Following the sale, the executive vice president 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is currently owned by company insiders.

The PNC Financial Services Group Trading Up 0.2%

NYSE PNC opened at $182.66 on Friday. The firm has a 50 day simple moving average of $195.95 and a 200-day simple moving average of $185.83. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26. The firm has a market cap of $71.93 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 1.26 and a beta of 1.10.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, beating the consensus estimate of $4.05 by $0.30. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The business had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.82 billion. During the same quarter last year, the firm posted $3.49 earnings per share. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. Equities 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $6.80 annualized dividend and a dividend yield of 3.7%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 43.93%.

The PNC Financial Services Group Company 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.