Zurcher Kantonalbank Zurich Cantonalbank Has $40.22 Million Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 37.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 217,598 shares of the financial services provider’s stock after acquiring an additional 58,927 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.05% of The PNC Financial Services Group worth $40,223,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PNC. Bank & Trust Co acquired a new position in The PNC Financial Services Group during the second quarter worth approximately $26,000. ORG Partners LLC increased its position in The PNC Financial Services Group by 203.7% during the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after buying an additional 110 shares during the last quarter. LRI Investments LLC acquired a new position in The PNC Financial Services Group during the first quarter worth approximately $28,000. Y.D. More Investments Ltd acquired a new position in The PNC Financial Services Group during the second quarter worth approximately $33,000. Finally, Valley Wealth Managers Inc. increased its position in The PNC Financial Services Group by 20,000.0% during the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analysts Set New Price Targets

PNC has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their price target on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. Compass Point cut The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Morgan Stanley boosted their price objective on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a report on Wednesday, October 16th. Citigroup increased 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 report on Monday. Finally, Evercore ISI boosted their target price on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $189.15.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $186.45, for a total value of $231,570.90. Following the completion of the transaction, the chief executive officer now directly owns 550,975 shares in the company, valued at approximately $102,729,288.75. This represents a 0.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the transaction, the director now owns 38,649 shares of the company’s stock, valued at $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,546 shares of company stock worth $5,345,530. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Up 0.4 %

NYSE PNC opened at $215.00 on Friday. The business has a fifty day moving average price of $193.50 and a two-hundred day moving average price of $176.17. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc. has a fifty-two week low of $127.83 and a fifty-two week high of $216.18. The stock has a market capitalization of $85.31 billion, a PE ratio of 18.17, a PEG ratio of 2.25 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The firm had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same period in the prior year, the company earned $3.60 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. Equities analysts expect that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is presently 54.10%.

The PNC Financial Services Group Company 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.