Central Pacific Bank Trust Division Reduces Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Central Pacific Bank Trust Division decreased its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 31.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,613 shares of the financial services provider’s stock after selling 2,133 shares during the quarter. Central Pacific Bank Trust Division’s holdings in The PNC Financial Services Group were worth $890,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PNC. Concurrent Investment Advisors LLC boosted its position in shares of The PNC Financial Services Group by 45.6% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock valued at $1,185,000 after acquiring an additional 2,009 shares during the last quarter. BSN CAPITAL PARTNERS Ltd purchased a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at approximately $12,548,000. Bleakley Financial Group LLC increased its holdings in shares of The PNC Financial Services Group by 9.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock worth $2,913,000 after buying an additional 1,299 shares during the last quarter. Deerfield Management Company L.P. Series C purchased a new stake in shares of The PNC Financial Services Group during the 2nd quarter valued at approximately $822,000. Finally, Aljian Capital Management LLC acquired a new position in The PNC Financial Services Group in the third quarter valued at approximately $839,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Barclays lifted their target price on The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Evercore ISI upped their target price on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods increased their target price on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group upped their price objective on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, Compass Point lifted their target price on shares of 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. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $200.81.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the transaction, the director now owns 38,649 shares in the company, valued at $8,119,768.41. This represents a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $185.00, for a total value of $229,770.00. Following the sale, the chief executive officer now owns 547,249 shares in the company, valued at $101,241,065. This trade represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,030 shares of company stock valued at $5,916,453 over the last three months. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group Stock Up 2.2 %

Shares of The PNC Financial Services Group stock opened at $195.63 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The PNC Financial Services Group, Inc. has a 52-week low of $139.69 and a 52-week high of $216.26. The company has a market capitalization of $77.62 billion, a P/E ratio of 16.54, a P/E/G ratio of 2.11 and a beta of 1.15. The company has a 50 day moving average of $200.78 and a 200 day moving average of $183.86.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The firm had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the previous year, the firm posted $3.60 earnings per share. The company’s revenue was up 3.8% compared to the same quarter last year. As a group, research analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.27%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

The PNC Financial Services Group 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.