Cullen Frost Bankers Inc. Has $1.71 Million Holdings in The PNC Financial Services Group, Inc (NYSE:PNC)

Cullen Frost Bankers Inc. cut its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 5.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,725 shares of the financial services provider’s stock after selling 563 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in The PNC Financial Services Group were worth $1,709,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PNC. Quadrant Capital Group LLC increased its position in shares of The PNC Financial Services Group by 0.9% during the fourth quarter. Quadrant Capital Group LLC now owns 6,679 shares of the financial services provider’s stock worth $1,288,000 after acquiring an additional 59 shares in the last quarter. True Wealth Design LLC grew its holdings in shares of The PNC Financial Services Group by 41.5% during the 4th quarter. True Wealth Design LLC now owns 201 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 59 shares during the last quarter. Cornerstone Planning Group LLC grew its holdings in shares of The PNC Financial Services Group by 50.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 65 shares during the last quarter. Sandy Spring Bank grew its holdings in The PNC Financial Services Group by 1.4% in the 4th quarter. Sandy Spring Bank now owns 4,901 shares of the financial services provider’s stock worth $945,000 after acquiring an additional 67 shares during the last quarter. Finally, KCM Investment Advisors LLC lifted its position in shares of The PNC Financial Services Group by 3.9% in the 4th quarter. KCM Investment Advisors LLC now owns 1,828 shares of the financial services provider’s stock worth $353,000 after purchasing an additional 68 shares during the period. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Trading Up 1.1%

NYSE:PNC opened at $196.09 on Friday. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $216.26. The stock has a market capitalization of $77.57 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 1.54 and a beta of 1.07. The stock has a fifty day moving average price of $181.79 and a two-hundred day moving average price of $180.27. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.81 and a current ratio of 0.80.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, beating the consensus estimate of $3.56 by $0.29. The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%. The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $5.61 billion. During the same period last year, the business posted $3.39 EPS. The company’s revenue was up 4.6% on a year-over-year basis. As a group, sell-side analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th will be given a dividend of $1.70 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.80 dividend on an annualized basis and a yield of 3.47%. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.60. The PNC Financial Services Group’s payout ratio is currently 48.02%.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $169.75, for a total value of $210,829.50. Following the sale, the chief executive officer owned 554,879 shares of the company’s stock, valued at approximately $94,190,710.25. The trade was a 0.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kieran John Fallon sold 1,492 shares of the company’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $174.56, for a total value of $260,443.52. Following the completion of the sale, the executive vice president owned 20,490 shares of the company’s stock, valued at approximately $3,576,734.40. This trade represents a 6.79% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,545 shares of company stock worth $1,590,080. 0.41% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PNC shares. Wells Fargo & Company lowered their price target on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Raymond James Financial upgraded shares of The PNC Financial Services Group from a “market perform” rating to an “outperform” rating and set a $220.00 price objective for the company in a research report on Tuesday, July 8th. Barclays dropped their target price on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Keefe, Bruyette & Woods upgraded shares of The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and raised their price target for the company from $185.00 to $212.00 in a report on Wednesday, July 9th. Finally, Morgan Stanley raised their price target on shares of The PNC Financial Services Group from $179.00 to $186.00 and gave the stock an “underweight” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $212.76.

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.