North Dallas Bank & Trust Co. Purchases New Holdings in The PNC Financial Services Group, Inc $PNC

North Dallas Bank & Trust Co. purchased a new stake in shares of The PNC Financial Services Group, Inc (NYSE:PNCFree Report) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 3,675 shares of the financial services provider’s stock, valued at approximately $767,000.

Other large investors also recently bought and sold shares of the company. Quarry LP purchased a new position in The PNC Financial Services Group during the 3rd quarter valued at about $25,000. Modus Advisors LLC purchased a new position in The PNC Financial Services Group during the 4th quarter valued at about $29,000. Beacon Financial Strategies CORP purchased a new position in The PNC Financial Services Group during the 4th quarter valued at about $35,000. JPL Wealth Management LLC purchased a new position in The PNC Financial Services Group during the 3rd quarter valued at about $37,000. Finally, Financial Life Planners purchased a new position in The PNC Financial Services Group during the 3rd quarter valued at about $39,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Stephanie Novosel sold 1,800 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the sale, the executive vice president directly owned 3,107 shares in the company, valued at $710,664.11. The trade was a 36.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the completion of the sale, the director owned 10,749 shares of the company’s stock, valued at $2,370,906.93. This represents a 80.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on PNC shares. Bank of America lifted their price target on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Jefferies Financial Group initiated coverage on The PNC Financial Services Group in a research report on Thursday, March 26th. They issued a “buy” rating and a $250.00 price target for the company. Barclays lifted their price target on The PNC Financial Services Group from $271.00 to $277.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Citigroup raised their price objective on shares of The PNC Financial Services Group from $245.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Finally, Oppenheimer raised their price objective on shares of The PNC Financial Services Group from $263.00 to $268.00 and gave the company an “outperform” rating in a research note on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $243.11.

Read Our Latest Report on The PNC Financial Services Group

The PNC Financial Services Group Stock Up 1.9%

NYSE:PNC opened at $231.51 on Wednesday. The firm has a market cap of $92.97 billion, a P/E ratio of 13.45, a P/E/G ratio of 0.94 and a beta of 0.92. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83. The PNC Financial Services Group, Inc has a fifty-two week low of $172.73 and a fifty-two week high of $243.94. The firm has a 50-day simple moving average of $219.13 and a two-hundred day simple moving average of $215.28.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last released its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, beating analysts’ consensus estimates of $3.92 by $0.40. The business had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.21 billion. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The PNC Financial Services Group’s revenue was up 13.1% compared to the same quarter last year. During the same period last year, the business earned $3.51 EPS. Analysts predict that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Tuesday, April 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 39.51%.

The PNC Financial Services Group Profile

(Free Report)

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.

See Also

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

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

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