Fifth Third Bancorp Buys 56,767 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Fifth Third Bancorp grew its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 9.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 660,434 shares of the financial services provider's stock after acquiring an additional 56,767 shares during the quarter. Fifth Third Bancorp owned about 0.17% of The PNC Financial Services Group worth $106,726,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of PNC. Rockline Wealth Management LLC purchased a new position in The PNC Financial Services Group in the fourth quarter worth about $1,825,000. KPP Advisory Services LLC purchased a new position in The PNC Financial Services Group in the 3rd quarter worth approximately $323,000. AQR Capital Management LLC lifted its position in The PNC Financial Services Group by 144.2% in the 3rd quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider's stock valued at $14,032,000 after acquiring an additional 67,490 shares in the last quarter. Trust Point Inc. purchased a new stake in The PNC Financial Services Group during the 4th quarter valued at $459,000. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in shares of The PNC Financial Services Group in the 4th quarter worth $295,000. Hedge funds and other institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC traded up $1.74 during trading on Thursday, hitting $155.72. The company had a trading volume of 1,172,875 shares, compared to its average volume of 2,079,596. The stock has a 50 day simple moving average of $153.38 and a 200 day simple moving average of $144.15. The firm has a market capitalization of $61.95 billion, a P/E ratio of 13.07, a price-to-earnings-growth ratio of 1.73 and a beta of 1.16. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $162.24.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping analysts' consensus estimates of $3.09 by $0.01. The company had revenue of $5.15 billion for the quarter, compared to analysts' expectations of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The firm's revenue was down 8.2% compared to the same quarter last year. During the same quarter last year, the business earned $3.98 EPS. As a group, analysts anticipate that The PNC Financial Services Group, Inc. will post 12.65 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date is Friday, April 12th. The PNC Financial Services Group's dividend payout ratio (DPR) is 52.06%.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the firm's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the sale, the executive vice president now directly owns 36,570 shares of the company's stock, valued at $5,442,347.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.42% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PNC has been the topic of several recent analyst reports. UBS Group increased their price objective on The PNC Financial Services Group from $160.00 to $163.00 and gave the company a "neutral" rating in a research report on Thursday, January 18th. Evercore ISI dropped their price target on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an "outperform" rating on the stock in a report on Wednesday, April 17th. Bank of America boosted their price objective on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the company a "neutral" rating in a report on Wednesday, April 17th. Morgan Stanley raised their target price on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an "underweight" rating in a report on Tuesday, January 30th. Finally, HSBC upgraded shares of The PNC Financial Services Group from a "reduce" rating to a "hold" rating and boosted their target price for the company from $141.00 to $155.00 in a research note on Thursday, March 28th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $157.02.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.