Stock Yards Bank & Trust Co. Has $5.11 Million Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Stock Yards Bank & Trust Co. cut its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,115 shares of the financial services provider’s stock after selling 1,425 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in The PNC Financial Services Group were worth $5,109,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PNC. Cubist Systematic Strategies LLC increased its holdings in shares of The PNC Financial Services Group by 17.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 9,152 shares of the financial services provider’s stock worth $1,605,000 after acquiring an additional 1,328 shares during the last quarter. Axiom Investment Management LLC acquired a new position in shares of The PNC Financial Services Group during the 1st quarter worth approximately $211,000. B. Metzler seel. Sohn & Co. Holding AG grew its holdings in The PNC Financial Services Group by 6.0% in the 1st quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 15,788 shares of the financial services provider’s stock valued at $2,769,000 after buying an additional 894 shares in the last quarter. Sargent Bickham Lagudis LLC grew its holdings in The PNC Financial Services Group by 701.8% in the 1st quarter. Sargent Bickham Lagudis LLC now owns 457 shares of the financial services provider’s stock valued at $80,000 after buying an additional 400 shares in the last quarter. Finally, Schroder Investment Management Group grew its holdings in The PNC Financial Services Group by 1,140.7% in the 1st quarter. Schroder Investment Management Group now owns 306,639 shares of the financial services provider’s stock valued at $53,787,000 after buying an additional 281,924 shares in the last quarter. 81.74% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction dated Monday, October 25th. The shares were sold at an average price of $216.20, for a total transaction of $648,600.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kieran John Fallon sold 125 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, November 16th. The shares were sold at an average price of $204.99, for a total value of $25,623.75. The disclosure for this sale can be found here. Insiders have sold 3,625 shares of company stock worth $773,528 over the last three months. Insiders own 0.30% of the company’s stock.

A number of research analysts have commented on the company. Citigroup lowered The PNC Financial Services Group from a “buy” rating to a “neutral” rating in a report on Friday, October 1st. Barclays increased their target price on The PNC Financial Services Group from $203.00 to $220.00 and gave the stock an “equal weight” rating in a report on Monday, October 18th. Bank of America downgraded The PNC Financial Services Group from a “buy” rating to a “neutral” rating in a research report on Friday, October 15th. Credit Suisse Group upped their price objective on The PNC Financial Services Group from $195.00 to $201.00 and gave the stock a “neutral” rating in a research report on Monday, October 18th. Finally, Morgan Stanley increased their target price on The PNC Financial Services Group from $192.00 to $193.00 and gave the company an “equal weight” rating in a research report on Thursday, July 29th. Thirteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $203.31.

Shares of PNC traded down $0.46 during mid-day trading on Thursday, reaching $208.63. The company’s stock had a trading volume of 1,433,739 shares, compared to its average volume of 1,736,618. The company’s fifty day moving average price is $203.12 and its two-hundred day moving average price is $194.39. The PNC Financial Services Group, Inc. has a 52 week low of $137.48 and a 52 week high of $217.60. The stock has a market cap of $88.18 billion, a PE ratio of 15.94, a P/E/G ratio of 0.84 and a beta of 1.38. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Thursday, October 14th. The financial services provider reported $3.75 earnings per share for the quarter, beating analysts’ consensus estimates of $3.64 by $0.11. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.05 billion. The PNC Financial Services Group had a return on equity of 12.60% and a net margin of 30.94%. The business’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.39 earnings per share. Research analysts anticipate that The PNC Financial Services Group, Inc. will post 14.7 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 5th. Stockholders of record on Friday, October 15th were given a $1.25 dividend. The ex-dividend date was Thursday, October 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.40%. The PNC Financial Services Group’s dividend payout ratio is currently 38.20%.

The PNC Financial Services Group Company Profile

PNC Financial Services Group, Inc is a holding company, which engages in the provision of financial services. It operates through the following segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, investment management, and cash management products and services to consumer and small business customers.

Further Reading: Why do analysts give a neutral rating?

Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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