Canandaigua National Bank & Trust Co. Sells 193 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Canandaigua National Bank & Trust Co. decreased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,461 shares of the financial services provider’s stock after selling 193 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in The PNC Financial Services Group were worth $721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of PNC. BKM Wealth Management LLC bought a new stake in The PNC Financial Services Group during the 4th quarter valued at $26,000. Tennessee Valley Asset Management Partners bought a new stake in The PNC Financial Services Group during the 4th quarter valued at $26,000. Fortitude Family Office LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth $28,000. Householder Group Estate & Retirement Specialist LLC increased its holdings in shares of The PNC Financial Services Group by 350.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares during the period. Finally, Core Wealth Advisors Inc. bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth $31,000. Institutional investors own 83.53% of the company’s stock.

Insiders Place Their Bets

In other The PNC Financial Services Group 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 value of $132,489.50. Following the completion of the sale, the executive vice president now directly owns 3,502 shares in the company, valued at $545,856.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.42% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PNC has been the topic of several research analyst reports. Jefferies Financial Group decreased their price target on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a report on Wednesday, April 17th. The Goldman Sachs Group increased their target price on The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. HSBC raised The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their target price for the company from $141.00 to $155.00 in a research note on Thursday, March 28th. Evercore ISI reduced their target price on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. Finally, JPMorgan Chase & Co. reduced 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 research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $157.83.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $154.48 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42. The firm has a 50-day moving average of $154.71 and a 200-day moving average of $152.26. The firm has a market cap of $61.47 billion, a P/E ratio of 12.97, a P/E/G ratio of 2.94 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The company had revenue of $5.15 billion during the quarter, compared to analyst estimates 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 PNC Financial Services Group’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period in the prior year, the business posted $3.98 earnings per share. Sell-side analysts expect that The PNC Financial Services Group, Inc. will post 12.64 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were issued a $1.55 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 4.01%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.

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.