First National Bank & Trust Co. of Newtown Lowers Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

First National Bank & Trust Co. of Newtown lowered its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 10.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,690 shares of the financial services provider’s stock after selling 1,075 shares during the period. First National Bank & Trust Co. of Newtown’s holdings in The PNC Financial Services Group were worth $1,869,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Handelsbanken Fonder AB grew its position in shares of The PNC Financial Services Group by 8.7% in the fourth quarter. Handelsbanken Fonder AB now owns 132,604 shares of the financial services provider’s stock valued at $25,573,000 after purchasing an additional 10,607 shares during the period. Ieq Capital LLC grew its position in The PNC Financial Services Group by 67.5% during the fourth quarter. Ieq Capital LLC now owns 32,486 shares of the financial services provider’s stock valued at $6,265,000 after acquiring an additional 13,091 shares during the period. Bryn Mawr Capital Management LLC grew its position in The PNC Financial Services Group by 4.5% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 2,243 shares of the financial services provider’s stock valued at $423,000 after acquiring an additional 96 shares during the period. Private Advisor Group LLC grew its position in The PNC Financial Services Group by 24.0% during the fourth quarter. Private Advisor Group LLC now owns 81,799 shares of the financial services provider’s stock valued at $15,775,000 after acquiring an additional 15,822 shares during the period. Finally, Pasadena Private Wealth LLC grew its position in The PNC Financial Services Group by 49.2% during the fourth quarter. Pasadena Private Wealth LLC now owns 2,122 shares of the financial services provider’s stock valued at $409,000 after acquiring an additional 700 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

PNC has been the subject of a number of research reports. Stephens reissued an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Morgan Stanley boosted their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. Citigroup boosted their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. The Goldman Sachs Group boosted their price objective on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Piper Sandler boosted their price objective on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $205.00.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $216.01, for a total transaction of $268,284.42. Following the completion of the transaction, the chief executive officer now directly owns 533,765 shares of the company’s stock, valued at approximately $115,298,577.65. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 13,662 shares of company stock valued at $2,730,549. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Trading Down 1.2 %

Shares of NYSE PNC opened at $194.19 on Thursday. The stock’s 50 day moving average price is $196.55 and its two-hundred day moving average price is $191.49. The PNC Financial Services Group, Inc. has a 52-week low of $139.69 and a 52-week high of $216.26. The stock has a market capitalization of $77.05 billion, a P/E ratio of 14.12, a PEG ratio of 1.59 and a beta of 1.16. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the prior year, the firm posted $3.16 earnings per share. The PNC Financial Services Group’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.30%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

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.