Bangor Savings Bank Grows Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Bangor Savings Bank lifted its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,910 shares of the financial services provider’s stock after buying an additional 173 shares during the period. Bangor Savings Bank’s holdings in The PNC Financial Services Group were worth $955,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Steph & Co. boosted its holdings in The PNC Financial Services Group by 1.8% in the 4th quarter. Steph & Co. now owns 3,720 shares of the financial services provider’s stock worth $576,000 after acquiring an additional 67 shares during the period. Triangle Securities Wealth Management grew its holdings in The PNC Financial Services Group by 1.8% during the 1st quarter. Triangle Securities Wealth Management now owns 4,019 shares of the financial services provider’s stock valued at $649,000 after purchasing an additional 70 shares in the last quarter. Oakworth Capital Inc. grew its holdings in The PNC Financial Services Group by 11.7% during the 4th quarter. Oakworth Capital Inc. now owns 715 shares of the financial services provider’s stock valued at $111,000 after purchasing an additional 75 shares in the last quarter. Caprock Group LLC increased its stake in The PNC Financial Services Group by 0.9% during the 4th quarter. Caprock Group LLC now owns 8,574 shares of the financial services provider’s stock worth $1,328,000 after buying an additional 79 shares during the period. Finally, RMR Wealth Builders boosted its position in The PNC Financial Services Group by 1.2% in the 4th quarter. RMR Wealth Builders now owns 6,561 shares of the financial services provider’s stock valued at $1,016,000 after buying an additional 79 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

PNC has been the topic of several recent analyst reports. StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Jefferies Financial Group cut their target price on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a research report on Wednesday, April 17th. HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and raised their price target for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. JPMorgan Chase & Co. cut their price target on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Finally, Wells Fargo & Company boosted their target price on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus price target of $157.83.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $153.20 on Monday. The company has a market cap of $60.96 billion, a P/E ratio of 12.86, a PEG ratio of 2.18 and a beta of 1.16. The business has a 50 day moving average of $154.73 and a two-hundred day moving average of $152.55. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $162.24. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The business had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the previous year, the firm posted $3.98 EPS. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. As a group, analysts anticipate that The PNC Financial Services Group, Inc. will post 12.64 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Monday, April 15th were issued a $1.55 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.05%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.

Insider Activity at The PNC Financial Services Group

In other news, EVP Richard Kevin Bynum sold 850 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total transaction of $132,489.50. Following the sale, the executive vice president now owns 3,502 shares of the company’s stock, valued at $545,856.74. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.42% of the stock is currently owned by insiders.

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.