First Commonwealth Financial Corp PA Sells 1,030 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

First Commonwealth Financial Corp PA trimmed its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 13.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,919 shares of the financial services provider’s stock after selling 1,030 shares during the period. First Commonwealth Financial Corp PA’s holdings in The PNC Financial Services Group were worth $1,279,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Dynasty Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group during the first quarter worth $225,000. Ancora Advisors LLC grew its position in shares of The PNC Financial Services Group by 0.8% during the 1st quarter. Ancora Advisors LLC now owns 9,391 shares of the financial services provider’s stock worth $1,518,000 after buying an additional 73 shares during the period. B. Riley Wealth Advisors Inc. increased its stake in shares of The PNC Financial Services Group by 13.1% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 13,755 shares of the financial services provider’s stock valued at $2,223,000 after acquiring an additional 1,596 shares during the last quarter. Hancock Whitney Corp raised its position in shares of The PNC Financial Services Group by 2.7% in the 1st quarter. Hancock Whitney Corp now owns 12,084 shares of the financial services provider’s stock valued at $1,953,000 after acquiring an additional 322 shares during the period. Finally, LBP AM SA boosted its stake in The PNC Financial Services Group by 16.4% during the 1st quarter. LBP AM SA now owns 35,753 shares of the financial services provider’s stock worth $5,778,000 after acquiring an additional 5,031 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the sale, the director now owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. This trade represents a 27.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $205.98, for a total value of $255,827.16. Following the transaction, the chief executive officer now directly owns 535,007 shares of the company’s stock, valued at $110,200,741.86. This trade represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 27,788 shares of company stock worth $5,573,027. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock traded up $1.57 during trading on Wednesday, reaching $215.77. The company’s stock had a trading volume of 71,684 shares, compared to its average volume of 1,871,294. The PNC Financial Services Group, Inc. has a 52 week low of $127.83 and a 52 week high of $215.99. The firm has a market cap of $85.61 billion, a PE ratio of 18.11, a P/E/G ratio of 2.22 and a beta of 1.13. The business’s 50-day moving average price is $192.29 and its 200-day moving average price is $175.62. 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 PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same quarter in the prior year, the business posted $3.60 EPS. The business’s revenue was up 3.8% compared to the same quarter last year. Equities analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders 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 annualized dividend and a yield of 2.97%. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price target on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 16th. Evercore ISI increased their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Wells Fargo & Company boosted 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, November 15th. Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $185.00 to $200.00 in a report on Thursday, August 15th. Finally, Citigroup boosted their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus price target of $189.15.

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.