First City Capital Management Inc. Has $469,000 Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

First City Capital Management Inc. trimmed its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,537 shares of the financial services provider’s stock after selling 130 shares during the period. First City Capital Management Inc.’s holdings in The PNC Financial Services Group were worth $469,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Bank & Trust Co acquired a new position in shares of The PNC Financial Services Group during the 2nd quarter worth about $26,000. ORG Partners LLC lifted its holdings in shares of 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 worth $26,000 after buying an additional 110 shares during the last quarter. LRI Investments LLC bought a new stake in shares of The PNC Financial Services Group in the first quarter valued at approximately $28,000. Y.D. More Investments Ltd bought a new stake in shares of The PNC Financial Services Group in the second quarter valued at approximately $33,000. Finally, Valley Wealth Managers Inc. grew its stake in shares of The PNC Financial Services Group by 20,000.0% in the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 200 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $176.15, for a total value of $218,778.30. Following the completion of the sale, the chief executive officer now directly owns 555,943 shares of the company’s stock, valued at approximately $97,929,359.45. This trade represents a 0.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the transaction, the director now owns 38,649 shares in the company, valued at approximately $8,119,768.41. This represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,788 shares of company stock valued at $5,535,978. Insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PNC. Barclays upped their target price on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Wells Fargo & Company upped their price objective on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday. Keefe, Bruyette & Woods increased their target price on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research note on Wednesday, October 16th. Morgan Stanley boosted their price target on The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research note on Wednesday, October 16th. Finally, Compass Point downgraded The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $186.96.

The PNC Financial Services Group Trading Down 0.4 %

Shares of PNC stock opened at $206.83 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $82.07 billion, a P/E ratio of 17.48, a P/E/G ratio of 2.17 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 12-month low of $127.08 and a 12-month high of $214.19. The firm has a 50-day moving average price of $188.73 and a 200 day moving average price of $173.43.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the previous year, the business earned $3.60 EPS. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. Research analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were issued a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.09%. The PNC Financial Services Group’s dividend payout ratio is 54.10%.

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.