5,701 The PNC Financial Services Group, Inc $PNC Shares Bought by Crossmark Global Holdings Inc.

Key Points

• Crossmark Global Holdings increased its PNC stake by 25.8% in the third quarter, buying 5,701 additional shares for a total holding of 27,816 shares valued at approximately $6.18 million. Institutional investors own 83.53% of PNC’s outstanding stock.
• Analysts maintain a generally positive outlook, with 17 Buy ratings and 7 Holds, producing a consensus “Moderate Buy” rating and an average price target of $266.13. Several firms recently lowered their targets, while Deutsche Bank downgraded the stock to Hold.
• PNC reported quarterly earnings of $5.09 per share, exceeding estimates of $4.91, while revenue rose 10.9% year over year to $6.60 billion. The company also declared a quarterly dividend of $2.00, equivalent to an annualized yield of about 3.6%.

Crossmark Global Holdings Inc. lifted its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 25.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 27,816 shares of the financial services provider's stock after purchasing an additional 5,701 shares during the period. Crossmark Global Holdings Inc.'s holdings in The PNC Financial Services Group were worth $6,182,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the business. Bank of America Corp DE bought a new position in shares of The PNC Financial Services Group during the second quarter valued at $2,102,631,000. Nykredit A S purchased a new position in shares of The PNC Financial Services Group in the 2nd quarter worth about $33,532,000. AMG National Trust Bank bought a new position in The PNC Financial Services Group in the 2nd quarter worth about $30,557,000. Amundi boosted its stake in The PNC Financial Services Group by 5.2% in the 2nd quarter. Amundi now owns 1,824,741 shares of the financial services provider's stock worth $449,288,000 after purchasing an additional 90,734 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in The PNC Financial Services Group during the 2nd quarter valued at about $69,078,000. 83.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Evercore reduced their price objective on The PNC Financial Services Group from $265.00 to $260.00 and set an "outperform" rating for the company in a research report on Monday, October 19th. Royal Bank Of Canada dropped their target price on The PNC Financial Services Group from $273.00 to $250.00 and set an "outperform" rating on the stock in a research report on Friday, October 16th. Weiss Ratings restated a "buy (b)" rating on shares of The PNC Financial Services Group in a research note on Tuesday, October 13th. Keefe, Bruyette & Woods reduced their price target on shares of The PNC Financial Services Group from $260.00 to $250.00 and set a "market perform" rating for the company in a research report on Friday, October 16th. Finally, Deutsche Bank Aktiengesellschaft cut shares of The PNC Financial Services Group from a "buy" rating to a "hold" rating and increased their price objective for the stock from $230.00 to $265.00 in a research note on Thursday, July 23rd. Seventeen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $266.13.

Insiders Place Their Bets

In other news, EVP Stacy Juchno sold 3,354 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $255.84, for a total value of $858,087.36. Following the completion of the sale, the executive vice president owned 18,800 shares in the company, valued at approximately $4,809,792. This trade represents a 15.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.38% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Stock Down 0.5%

Shares of The PNC Financial Services Group stock opened at $224.49 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a market cap of $89.56 billion, a price-to-earnings ratio of 11.95, a PEG ratio of 1.17 and a beta of 0.94. The firm's 50-day moving average is $232.07 and its two-hundred day moving average is $233.54. The PNC Financial Services Group, Inc has a 1 year low of $177.08 and a 1 year high of $258.96.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Thursday, October 15th. The financial services provider reported $5.09 earnings per share for the quarter, topping the consensus estimate of $4.91 by $0.18. The company had revenue of $6.60 billion for the quarter, compared to the consensus estimate of $6.61 billion. The PNC Financial Services Group had a net margin of 21.83% and a return on equity of 12.82%. The PNC Financial Services Group's quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.35 EPS. As a group, research analysts expect that The PNC Financial Services Group, Inc will post 19.22 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 5th. Shareholders of record on Wednesday, October 14th will be issued a $2.00 dividend. The ex-dividend date is Wednesday, October 14th. This represents a $8.00 annualized dividend and a yield of 3.6%. The PNC Financial Services Group's payout ratio is 42.58%.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its principal banking subsidiary, PNC Bank, the company provides banking, lending, investment, and related financial services to individuals, small businesses, corporations, government entities, and institutional clients.

PNC's consumer offerings include checking and savings accounts, credit cards, mortgages, home equity loans, personal lending, and online and mobile banking.

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