Montecito Bank & Trust Purchases Shares of 2,182 PNC Financial Services Group Inc (PNC)

Montecito Bank & Trust purchased a new position in shares of PNC Financial Services Group Inc (NYSE:PNC) during the third quarter, Holdings Channel reports. The firm purchased 2,182 shares of the financial services provider’s stock, valued at approximately $297,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. NEXT Financial Group Inc increased its position in PNC Financial Services Group by 12.8% during the first quarter. NEXT Financial Group Inc now owns 3,086 shares of the financial services provider’s stock worth $467,000 after buying an additional 350 shares during the last quarter. Putnam FL Investment Management Co. increased its position in PNC Financial Services Group by 0.6% during the second quarter. Putnam FL Investment Management Co. now owns 62,570 shares of the financial services provider’s stock worth $8,453,000 after buying an additional 364 shares during the last quarter. Argent Trust Co increased its position in PNC Financial Services Group by 10.1% during the second quarter. Argent Trust Co now owns 3,981 shares of the financial services provider’s stock worth $538,000 after buying an additional 365 shares during the last quarter. Coastline Trust Co increased its position in PNC Financial Services Group by 9.6% during the second quarter. Coastline Trust Co now owns 4,225 shares of the financial services provider’s stock worth $571,000 after buying an additional 370 shares during the last quarter. Finally, Windsor Group LTD increased its position in PNC Financial Services Group by 11.9% during the second quarter. Windsor Group LTD now owns 3,537 shares of the financial services provider’s stock worth $478,000 after buying an additional 375 shares during the last quarter. 79.83% of the stock is currently owned by hedge funds and other institutional investors.

PNC Financial Services Group stock opened at $124.26 on Friday. PNC Financial Services Group Inc has a 12 month low of $121.61 and a 12 month high of $163.59. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.90 and a current ratio of 0.91. The company has a market capitalization of $63.23 billion, a PE ratio of 14.62, a PEG ratio of 1.24 and a beta of 0.92.

PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Friday, October 12th. The financial services provider reported $2.82 EPS for the quarter, beating the consensus estimate of $2.73 by $0.09. PNC Financial Services Group had a return on equity of 10.33% and a net margin of 30.40%. During the same period in the prior year, the business earned $2.16 EPS. On average, analysts anticipate that PNC Financial Services Group Inc will post 10.71 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 5th. Investors of record on Wednesday, October 17th will be paid a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Tuesday, October 16th. PNC Financial Services Group’s dividend payout ratio (DPR) is currently 44.71%.

A number of brokerages have weighed in on PNC. Vining Sparks reissued a “buy” rating and set a $160.00 price target on shares of PNC Financial Services Group in a research report on Tuesday. ValuEngine downgraded PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Friday. One analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the stock. PNC Financial Services Group has an average rating of “Hold” and an average price target of $156.37.

In related news, insider Michael J. Hannon sold 5,247 shares of the business’s stock in a transaction that occurred on Tuesday, July 17th. The stock was sold at an average price of $141.38, for a total value of $741,820.86. Following the completion of the sale, the insider now directly owns 58,239 shares in the company, valued at $8,233,829.82. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Martin Pfinsgraff purchased 700 shares of the business’s stock in a transaction that occurred on Wednesday, July 18th. The stock was bought at an average price of $142.15 per share, with a total value of $99,505.00. Following the completion of the purchase, the director now owns 1,050 shares of the company’s stock, valued at approximately $149,257.50. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 58,957 shares of company stock valued at $8,301,859. 0.38% of the stock is currently owned by corporate insiders.

PNC Financial Services Group Company Profile

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.

Further Reading: Price to Earnings Ratio (PE) Basics

Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PNC Financial Services Group Inc (NYSE:PNC).

Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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