Stock Yards Bank & Trust Co. Acquires 604 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Stock Yards Bank & Trust Co. lifted its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 64,070 shares of the financial services provider’s stock after purchasing an additional 604 shares during the period. Stock Yards Bank & Trust Co.’s holdings in The PNC Financial Services Group were worth $9,921,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. OFI Invest Asset Management purchased a new stake in The PNC Financial Services Group in the 3rd quarter worth approximately $25,000. BKM Wealth Management LLC purchased a new stake in The PNC Financial Services Group in the 4th quarter worth approximately $26,000. Tennessee Valley Asset Management Partners purchased a new stake in The PNC Financial Services Group in the 4th quarter worth approximately $26,000. Fortitude Family Office LLC purchased a new stake in The PNC Financial Services Group in the 4th quarter worth approximately $28,000. Finally, Householder Group Estate & Retirement Specialist LLC increased its holdings in The PNC Financial Services Group by 350.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 140 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling

In related news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the sale, the executive vice president now directly owns 36,570 shares in the company, valued at $5,442,347.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.42% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PNC has been the subject of several analyst reports. Evercore ISI reduced their target price on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $152.00 target price on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. The Goldman Sachs Group increased their price objective on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a report on Monday, April 1st. UBS Group increased their price objective on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a report on Thursday, January 18th. Finally, Morgan Stanley increased their price objective on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a report on Tuesday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $156.63.

The PNC Financial Services Group Price Performance

Shares of PNC stock traded up $3.26 on Monday, reaching $155.56. The company’s stock had a trading volume of 1,131,425 shares, compared to its average volume of 2,133,974. The stock’s fifty day simple moving average is $151.89 and its 200-day simple moving average is $142.26. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $162.24. 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 company has a market capitalization of $61.88 billion, a price-to-earnings ratio of 12.90, a price-to-earnings-growth ratio of 1.72 and a beta of 1.18.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) 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 the consensus estimate of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The PNC Financial Services Group’s revenue was down 8.2% on a year-over-year basis. During the same period last year, the company earned $3.98 earnings per share. Analysts forecast that The PNC Financial Services Group, Inc. will post 12.62 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be given a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.99%. The PNC Financial Services Group’s dividend payout ratio 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.