Bank of Montreal Can Has $168.11 Million Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Bank of Montreal Can lowered its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 10.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,080,249 shares of the financial services provider’s stock after selling 128,789 shares during the period. Bank of Montreal Can’s holdings in The PNC Financial Services Group were worth $168,108,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Bank & Trust Co bought a new position in The PNC Financial Services Group in the 2nd quarter valued at about $26,000. ORG Partners LLC raised its position in The PNC Financial Services Group by 203.7% during the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 110 shares in the last quarter. LRI Investments LLC bought a new stake in The PNC Financial Services Group during the first quarter worth $28,000. Palisade Asset Management LLC acquired a new stake in shares of The PNC Financial Services Group in the 1st quarter valued at $29,000. Finally, Core Wealth Advisors Inc. bought a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PNC. Compass Point lowered The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Barclays raised their price target on shares of The PNC Financial Services Group from $199.00 to $209.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. UBS Group increased their price objective on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. StockNews.com raised shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Finally, The Goldman Sachs Group dropped their price target on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $176.90.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $158.10, for a total value of $101,342.10. Following the completion of the sale, the chief executive officer now directly owns 567,041 shares in the company, valued at approximately $89,649,182.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $158.10, for a total value of $101,342.10. Following the transaction, the chief executive officer now owns 567,041 shares in the company, valued at $89,649,182.10. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $186.45, for a total value of $231,570.90. Following the sale, the chief executive officer now owns 550,975 shares of the company’s stock, valued at approximately $102,729,288.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,864 shares of company stock worth $4,551,485. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $185.09 on Tuesday. The firm has a market cap of $73.65 billion, a P/E ratio of 15.54, a P/E/G ratio of 2.00 and a beta of 1.14. The stock’s 50 day moving average is $177.43 and its 200 day moving average is $163.29. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.83 and a quick ratio of 0.82. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $187.78.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.30. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The business had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the previous year, the business earned $3.36 earnings per share. The PNC Financial Services Group’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, research analysts expect that The PNC Financial Services Group, Inc. will post 13.1 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 15th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.46%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date was Monday, July 15th. The PNC Financial Services Group’s dividend payout ratio is presently 53.74%.

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.