Commerzbank Aktiengesellschaft FI Buys 2,717 Shares of The PNC Financial Services Group, Inc (NYSE:PNC)

Commerzbank Aktiengesellschaft FI increased its stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 47.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,500 shares of the financial services provider's stock after purchasing an additional 2,717 shares during the quarter. Commerzbank Aktiengesellschaft FI's holdings in The PNC Financial Services Group were worth $1,495,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of PNC. Quadrant Capital Group LLC lifted its holdings in shares of The PNC Financial Services Group by 0.9% during the fourth quarter. Quadrant Capital Group LLC now owns 6,679 shares of the financial services provider's stock valued at $1,288,000 after acquiring an additional 59 shares during the period. True Wealth Design LLC increased its stake in shares of The PNC Financial Services Group by 41.5% in the fourth quarter. True Wealth Design LLC now owns 201 shares of the financial services provider's stock valued at $39,000 after buying an additional 59 shares in the last quarter. Cornerstone Planning Group LLC increased its position in The PNC Financial Services Group by 50.8% in the first quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock worth $34,000 after purchasing an additional 65 shares during the period. Sandy Spring Bank increased its position in The PNC Financial Services Group by 1.4% in the fourth quarter. Sandy Spring Bank now owns 4,901 shares of the financial services provider's stock worth $945,000 after purchasing an additional 67 shares during the period. Finally, KCM Investment Advisors LLC grew its position in shares of The PNC Financial Services Group by 3.9% during the 4th quarter. KCM Investment Advisors LLC now owns 1,828 shares of the financial services provider's stock worth $353,000 after buying an additional 68 shares during the period. Institutional investors and hedge funds own 83.53% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wells Fargo & Company decreased their target price on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Morgan Stanley boosted their target price on The PNC Financial Services Group from $179.00 to $186.00 and gave the company an "underweight" rating in a research note on Thursday. HSBC raised The PNC Financial Services Group from a "hold" rating to a "buy" rating and lowered their price target for the stock from $206.00 to $202.00 in a research report on Monday, March 31st. Keefe, Bruyette & Woods raised The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and boosted their target price for the stock from $185.00 to $212.00 in a report on Wednesday, July 9th. Finally, Wolfe Research reissued a "peer perform" rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $212.76.

The PNC Financial Services Group Price Performance

Shares of PNC stock traded up $0.55 on Friday, hitting $196.54. 2,548,240 shares of the company's stock were exchanged, compared to its average volume of 2,143,344. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.80 and a quick ratio of 0.81. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $216.26. The stock has a market cap of $77.75 billion, a P/E ratio of 13.44, a price-to-earnings-growth ratio of 1.53 and a beta of 1.07. The company has a 50 day moving average of $181.79 and a 200 day moving average of $180.27.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, beating the consensus estimate of $3.56 by $0.29. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $5.61 billion. The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%. The business's quarterly revenue was up 4.6% on a year-over-year basis. During the same period last year, the company earned $3.39 earnings per share. On average, equities research analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th will be paid a $1.70 dividend. This is a boost from The PNC Financial Services Group's previous quarterly dividend of $1.60. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.80 annualized dividend and a dividend yield of 3.46%. The PNC Financial Services Group's dividend payout ratio is presently 48.02%.

Insider Activity

In other The PNC Financial Services Group news, EVP Kieran John Fallon sold 1,492 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $174.56, for a total value of $260,443.52. Following the transaction, the executive vice president owned 20,490 shares in the company, valued at approximately $3,576,734.40. This represents a 6.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Martin Pfinsgraff purchased 1,000 shares of the business's stock in a transaction on Friday, April 25th. The stock was purchased at an average price of $158.22 per share, for a total transaction of $158,220.00. Following the acquisition, the director owned 2,009 shares of the company's stock, valued at approximately $317,863.98. This represents a 99.11% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 9,545 shares of company stock valued at $1,590,080. Company insiders own 0.41% of the company's stock.

The PNC Financial Services Group Company 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.