The PNC Financial Services Group, Inc (NYSE:PNC) Shares Bought by United Community Bank

United Community Bank raised its holdings in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 687.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,325 shares of the financial services provider's stock after buying an additional 10,759 shares during the period. The PNC Financial Services Group comprises about 0.8% of United Community Bank's holdings, making the stock its 24th largest position. United Community Bank's holdings in The PNC Financial Services Group were worth $2,166,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. 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 purchasing an additional 984 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of The PNC Financial Services Group by 3.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,782 shares of the financial services provider's stock worth $4,008,000 after purchasing an additional 653 shares in the last quarter. Associated Banc Corp acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $223,000. Frank Rimerman Advisors LLC increased its position in shares of The PNC Financial Services Group by 25.1% during the fourth quarter. Frank Rimerman Advisors LLC now owns 3,635 shares of the financial services provider's stock worth $701,000 after purchasing an additional 730 shares in the last quarter. Finally, Choate Investment Advisors increased its position in shares of The PNC Financial Services Group by 2.4% during the fourth quarter. Choate Investment Advisors now owns 8,846 shares of the financial services provider's stock worth $1,706,000 after purchasing an additional 207 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Martin Pfinsgraff bought 1,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the completion of 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $169.75, for a total transaction of $210,829.50. Following the sale, the chief executive officer owned 554,879 shares of the company's stock, valued at $94,190,710.25. The trade was a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,545 shares of company stock worth $1,590,080. 0.41% of the stock is owned by company insiders.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $196.98 on Monday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a 50-day moving average of $179.40 and a two-hundred day moving average of $180.03. The stock has a market cap of $77.92 billion, a P/E ratio of 13.91, a PEG ratio of 1.66 and a beta of 1.07. The PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-year high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, topping the consensus estimate of $3.47 by $0.04. The business had revenue of $5.45 billion for the quarter, compared to analysts' expectations of $5.50 billion. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. On average, research analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th will be paid a $1.70 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.80 annualized dividend and a dividend yield of 3.45%. This is a positive change from The PNC Financial Services Group's previous quarterly dividend of $1.60. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 45.20%.

Analyst Ratings Changes

PNC has been the topic of several recent research reports. Wells Fargo & Company dropped their price target on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Keefe, Bruyette & Woods raised The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and boosted their price target for the stock from $185.00 to $212.00 in a research note on Wednesday, July 9th. Hsbc Global Res raised The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 31st. The Goldman Sachs Group lifted their price objective on The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Finally, Barclays cut their price objective on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group currently has an average rating of "Moderate Buy" and a consensus price target of $209.11.

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.

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