Commerzbank Aktiengesellschaft FI Raises Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Commerzbank Aktiengesellschaft FI grew its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 193.9% in the third quarter, HoldingsChannel reports. The firm owned 4,511 shares of the financial services provider’s stock after buying an additional 2,976 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in The PNC Financial Services Group were worth $834,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. BSN CAPITAL PARTNERS Ltd purchased a new position in shares of The PNC Financial Services Group during the third quarter valued at about $12,548,000. Bleakley Financial Group LLC grew its position in shares of The PNC Financial Services Group by 9.0% during the third quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock valued at $2,913,000 after purchasing an additional 1,299 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new position in shares of The PNC Financial Services Group during the second quarter valued at about $822,000. Equity Investment Corp grew its position in shares of The PNC Financial Services Group by 3.4% during the first quarter. Equity Investment Corp now owns 682,532 shares of the financial services provider’s stock valued at $110,297,000 after purchasing an additional 22,188 shares in the last quarter. Finally, Duality Advisers LP lifted its holdings in shares of The PNC Financial Services Group by 108.5% in the 1st quarter. Duality Advisers LP now owns 20,641 shares of the financial services provider’s stock valued at $3,336,000 after acquiring an additional 10,743 shares during the last quarter. 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 opened at $188.21 on Thursday. The firm has a market cap of $74.81 billion, a PE ratio of 15.91, a price-to-earnings-growth ratio of 2.02 and a beta of 1.14. The firm’s 50 day simple moving average is $181.96 and its 200-day simple moving average is $167.82. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $196.64. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.82 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $3.60 earnings per share. As a group, equities analysts predict that The PNC Financial Services Group, Inc. will post 13.3 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend is Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is 54.10%.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $180.48, for a total transaction of $224,156.16. Following the transaction, the chief executive officer now directly owns 560,911 shares of the company’s stock, valued at $101,233,217.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $180.48, for a total transaction of $224,156.16. Following the transaction, the chief executive officer now directly owns 560,911 shares of the company’s stock, valued at $101,233,217.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the transaction, the president now directly owns 199,095 shares in the company, valued at approximately $36,151,670.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,662 shares of company stock valued at $4,459,819 over the last ninety days. 0.42% of the stock is owned by company insiders.

Analysts Set New Price Targets

PNC has been the subject of a number of analyst reports. Royal Bank of Canada increased their price target on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their price target for the company from $185.00 to $200.00 in a report on Thursday, August 15th. Wells Fargo & Company increased their price target on shares of The PNC Financial Services Group from $204.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Keefe, Bruyette & Woods increased their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a report on Wednesday, October 16th. Finally, Citigroup increased their price target on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $185.71.

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.