PNC Financial Services Group Inc (PNC) Shares Bought by Bank of Montreal Can

Bank of Montreal Can raised its stake in shares of PNC Financial Services Group Inc (NYSE:PNC) by 1.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,123,890 shares of the financial services provider’s stock after buying an additional 11,492 shares during the period. Bank of Montreal Can’s holdings in PNC Financial Services Group were worth $153,064,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. NEXT Financial Group Inc boosted its position in shares of PNC Financial Services Group by 12.8% during the 1st quarter. NEXT Financial Group Inc now owns 3,086 shares of the financial services provider’s stock valued at $467,000 after purchasing an additional 350 shares in the last quarter. Putnam FL Investment Management Co. boosted its position in shares of PNC Financial Services Group by 0.6% during the 2nd quarter. Putnam FL Investment Management Co. now owns 62,570 shares of the financial services provider’s stock valued at $8,453,000 after purchasing an additional 364 shares in the last quarter. Argent Trust Co boosted its position in shares of PNC Financial Services Group by 10.1% during the 2nd quarter. Argent Trust Co now owns 3,981 shares of the financial services provider’s stock valued at $538,000 after purchasing an additional 365 shares in the last quarter. Coastline Trust Co boosted its position in shares of PNC Financial Services Group by 9.6% during the 2nd quarter. Coastline Trust Co now owns 4,225 shares of the financial services provider’s stock valued at $571,000 after purchasing an additional 370 shares in the last quarter. Finally, Windsor Group LTD boosted its position in shares of PNC Financial Services Group by 11.9% during the 2nd quarter. Windsor Group LTD now owns 3,537 shares of the financial services provider’s stock valued at $478,000 after purchasing an additional 375 shares in the last quarter. 79.83% of the stock is currently owned by hedge funds and other institutional investors.

In other PNC Financial Services Group news, EVP Robert Q. Reilly sold 24,710 shares of the firm’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $140.49, for a total value of $3,471,507.90. Following the completion of the transaction, the executive vice president now directly owns 131,020 shares in the company, valued at $18,406,999.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michael J. Hannon sold 5,247 shares of the firm’s stock in a transaction dated Tuesday, July 17th. The stock was sold at an average price of $141.38, for a total transaction of $741,820.86. Following the completion of the transaction, the insider now owns 58,239 shares of the company’s stock, valued at $8,233,829.82. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,957 shares of company stock valued at $8,301,859. Corporate insiders own 0.38% of the company’s stock.

PNC has been the subject of several research reports. ValuEngine lowered shares of PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Friday. Vining Sparks restated a “buy” rating and set a $160.00 price objective on shares of PNC Financial Services Group in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company. PNC Financial Services Group currently has an average rating of “Hold” and an average target price of $156.37.

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

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

The company also recently announced a quarterly dividend, which will be paid on Monday, November 5th. Shareholders of record on Wednesday, October 17th will be issued a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Tuesday, October 16th. PNC Financial Services Group’s payout ratio is 44.71%.

PNC Financial Services Group 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.

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

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