D.A. Davidson & CO. Has $15.84 Million Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

D.A. Davidson & CO. trimmed its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 9.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 102,275 shares of the financial services provider's stock after selling 10,366 shares during the period. D.A. Davidson & CO.'s holdings in The PNC Financial Services Group were worth $15,837,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. increased its stake in The PNC Financial Services Group by 6.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 5,223 shares of the financial services provider's stock valued at $641,000 after buying an additional 311 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of The PNC Financial Services Group by 7.4% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,728 shares of the financial services provider's stock worth $1,072,000 after acquiring an additional 599 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of The PNC Financial Services Group by 13.9% during the third quarter. Private Advisor Group LLC now owns 57,866 shares of the financial services provider's stock worth $7,104,000 after acquiring an additional 7,082 shares in the last quarter. Main Street Financial Solutions LLC grew its stake in The PNC Financial Services Group by 5.1% in the third quarter. Main Street Financial Solutions LLC now owns 2,332 shares of the financial services provider's stock valued at $286,000 after purchasing an additional 114 shares in the last quarter. Finally, SteelPeak Wealth LLC acquired a new position in The PNC Financial Services Group in the 3rd quarter worth about $6,870,000. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Performance

PNC stock traded up $1.43 on Tuesday, reaching $158.57. 1,167,970 shares of the company were exchanged, compared to its average volume of 1,969,184. The firm has a market capitalization of $63.10 billion, a PE ratio of 13.31, a PEG ratio of 1.81 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $162.24. The stock's fifty day moving average price is $155.68 and its 200 day moving average price is $148.53. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The firm had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same period in the previous year, the company posted $3.98 earnings per share. The company's quarterly revenue was down 8.2% compared to the same quarter last year. On average, research analysts anticipate that The PNC Financial Services Group, Inc. will post 12.62 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were paid a dividend of $1.55 per share. The ex-dividend date was Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.91%. The PNC Financial Services Group's dividend payout ratio is currently 52.06%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Evercore ISI lowered their price target on The PNC Financial Services Group from $184.00 to $175.00 and set an "outperform" rating for the company in a research note on Wednesday, April 17th. Wells Fargo & Company raised their price target on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the company an "overweight" rating in a report on Thursday, March 28th. Bank of America lifted 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 research note on Wednesday, April 17th. JPMorgan Chase & Co. cut their target price on The PNC Financial Services Group from $163.50 to $163.00 and set an "overweight" rating on the stock in a report on Wednesday, May 1st. Finally, Jefferies Financial Group decreased their price target on The PNC Financial Services Group from $171.00 to $162.00 and set a "hold" rating for the company in a research note on Wednesday, April 17th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $157.02.

Insiders Place Their Bets

In other news, EVP Richard Kevin Bynum sold 850 shares of the firm's stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the transaction, the executive vice president now directly owns 3,502 shares of the company's stock, valued at approximately $545,856.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.42% of the company's stock.

The PNC Financial Services Group 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.