Commerzbank Aktiengesellschaft FI Buys New Holdings in PNC Financial Services Group Inc (PNC)

Commerzbank Aktiengesellschaft FI bought a new stake in PNC Financial Services Group Inc (NYSE:PNC) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,071 shares of the financial services provider’s stock, valued at approximately $549,000.

Several other large investors have also made changes to their positions in the company. Quadrant Capital Group LLC raised its holdings in shares of PNC Financial Services Group by 0.3% in the second quarter. Quadrant Capital Group LLC now owns 1,417 shares of the financial services provider’s stock valued at $137,000 after buying an additional 4 shares during the last quarter. Hudock Capital Group LLC raised its holdings in PNC Financial Services Group by 0.4% during the second quarter. Hudock Capital Group LLC now owns 2,692 shares of the financial services provider’s stock worth $336,000 after purchasing an additional 11 shares in the last quarter. Telemus Capital LLC raised its holdings in PNC Financial Services Group by 0.3% during the second quarter. Telemus Capital LLC now owns 4,981 shares of the financial services provider’s stock worth $622,000 after purchasing an additional 16 shares in the last quarter. Green Square Capital LLC raised its holdings in PNC Financial Services Group by 0.4% during the second quarter. Green Square Capital LLC now owns 4,147 shares of the financial services provider’s stock worth $518,000 after purchasing an additional 18 shares in the last quarter. Finally, Abner Herrman & Brock LLC raised its holdings in PNC Financial Services Group by 0.7% during the second quarter. Abner Herrman & Brock LLC now owns 2,899 shares of the financial services provider’s stock worth $362,000 after purchasing an additional 20 shares in the last quarter. 81.57% of the stock is owned by institutional investors and hedge funds.

PNC has been the subject of several analyst reports. Piper Jaffray Companies reissued a “buy” rating and set a $134.00 price target on shares of PNC Financial Services Group in a report on Wednesday, October 4th. Robert W. Baird reissued a “buy” rating and set a $135.00 price target on shares of PNC Financial Services Group in a report on Sunday, October 1st. Zacks Investment Research raised shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $144.00 price target for the company in a report on Tuesday, September 19th. Royal Bank Of Canada reissued a “buy” rating on shares of PNC Financial Services Group in a report on Monday, October 16th. Finally, Stephens cut shares of PNC Financial Services Group from an “overweight” rating to an “equal weight” rating in a report on Thursday, October 5th. They noted that the move was a valuation call. Sixteen research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $136.13.

In other PNC Financial Services Group news, insider E William Parsley III sold 25,000 shares of the stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $138.68, for a total value of $3,467,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Wyk Steven C. Van sold 5,000 shares of the stock in a transaction that occurred on Thursday, October 19th. The shares were sold at an average price of $135.00, for a total transaction of $675,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,640 shares of company stock valued at $5,901,852. 0.43% of the stock is currently owned by corporate insiders.

Shares of PNC Financial Services Group Inc (NYSE:PNC) traded up $0.38 during trading on Friday, reaching $143.80. 1,515,661 shares of the company’s stock were exchanged, compared to its average volume of 1,641,524. PNC Financial Services Group Inc has a 12 month low of $112.61 and a 12 month high of $145.66. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $68,420.19, a PE ratio of 17.56, a PEG ratio of 1.92 and a beta of 0.90.

PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Friday, October 13th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.13 by $0.03. PNC Financial Services Group had a net margin of 24.61% and a return on equity of 9.29%. The company had revenue of $4.13 billion during the quarter, compared to analysts’ expectations of $4.09 billion. During the same period last year, the company posted $1.84 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. research analysts predict that PNC Financial Services Group Inc will post 8.44 earnings per share for the current fiscal year.

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About PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

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

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