Stock Yards Bank & Trust Co. Sells 3,868 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Stock Yards Bank & Trust Co. lowered its stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 8.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,185 shares of the financial services provider's stock after selling 3,868 shares during the quarter. Stock Yards Bank & Trust Co.'s holdings in The PNC Financial Services Group were worth $7,766,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC increased its position in shares of The PNC Financial Services Group by 32.2% during the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider's stock worth $779,000 after buying an additional 984 shares during the period. Gladstone Institutional Advisory LLC boosted its position in shares of The PNC Financial Services Group by 21.1% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 8,894 shares of the financial services provider's stock valued at $1,715,000 after buying an additional 1,550 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in The PNC Financial Services Group by 69.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 50,440 shares of the financial services provider's stock worth $9,670,000 after purchasing an additional 20,621 shares during the last quarter. Windward Private Wealth Management Inc. bought a new position in The PNC Financial Services Group in the 4th quarter valued at $208,000. Finally, Asset Management One Co. Ltd. increased its holdings in The PNC Financial Services Group by 2.2% during the fourth quarter. Asset Management One Co. Ltd. now owns 158,514 shares of the financial services provider's stock worth $30,638,000 after buying an additional 3,395 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $169.75, for a total value of $210,829.50. Following the completion of the sale, the chief executive officer now directly owns 554,879 shares in the company, valued at approximately $94,190,710.25. This trade represents a 0.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Martin Pfinsgraff acquired 1,000 shares of the firm's stock in a transaction dated Friday, April 25th. The shares were bought at an average cost of $158.22 per share, with a total value of $158,220.00. Following the completion of the acquisition, the director now directly owns 2,009 shares of the company's stock, valued at $317,863.98. The trade was a 99.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 13,912 shares of company stock valued at $2,313,022. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Morgan Stanley cut their price target on The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating for the company in a research note on Wednesday, April 16th. Hsbc Global Res upgraded shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. JPMorgan Chase & Co. cut their target price on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating for the company in a research report on Thursday, April 3rd. HSBC upgraded The PNC Financial Services Group from a "hold" rating to a "buy" rating and lowered their price target for the company from $206.00 to $202.00 in a research report on Monday, March 31st. Finally, Wells Fargo & Company cut their price objective on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Two analysts have rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, The PNC Financial Services Group has an average rating of "Moderate Buy" and a consensus price target of $202.67.

The PNC Financial Services Group Trading Down 1.1%

Shares of PNC traded down $1.91 during trading hours on Tuesday, reaching $173.23. 1,390,811 shares of the company traded hands, compared to its average volume of 2,057,624. The PNC Financial Services Group, Inc. has a 12 month low of $145.12 and a 12 month high of $216.26. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The company's fifty day moving average price is $167.56 and its two-hundred day moving average price is $181.73. The company has a market capitalization of $68.52 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. Equities research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group's payout ratio is 45.20%.

About The PNC Financial Services Group

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.