Cullen Frost Bankers Inc. Decreases Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Cullen Frost Bankers Inc. lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 31.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,622 shares of the financial services provider’s stock after selling 5,253 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in The PNC Financial Services Group were worth $1,800,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Everpar Advisors LLC acquired a new position in The PNC Financial Services Group in the 4th quarter valued at $1,097,000. Gryphon Financial Partners LLC purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter worth about $228,000. Barlow Wealth Partners Inc. purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter worth about $1,575,000. Patrick M Sweeney & Associates Inc. purchased a new position in shares of The PNC Financial Services Group during the 4th quarter worth about $355,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in The PNC Financial Services Group by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,336,842 shares of the financial services provider’s stock valued at $361,860,000 after buying an additional 68,262 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the completion of the transaction, the executive vice president now directly owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $148.82, for a total value of $446,460.00. Following the transaction, the executive vice president now owns 36,570 shares in the company, valued at $5,442,347.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the transaction, the executive vice president now directly owns 3,502 shares in the company, valued at approximately $545,856.74. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Morgan Stanley increased their price objective on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research report on Tuesday, January 30th. JPMorgan Chase & Co. dropped their target price on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Evercore ISI dropped their target price on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $152.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Finally, Bank of America increased their target price on The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $157.02.

The PNC Financial Services Group Trading Down 0.1 %

NYSE:PNC opened at $157.12 on Friday. The stock has a market cap of $62.50 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 1.77 and a beta of 1.16. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85. The stock’s 50-day moving average is $154.25 and its two-hundred day moving average is $145.47. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results 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 net margin of 16.05% and a return on equity of 11.64%. The business had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same period last year, the business posted $3.98 EPS. The PNC Financial Services Group’s revenue was down 8.2% compared to the same quarter last year. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 12.64 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.

The PNC Financial Services Group Profile

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.