Zions Bancorporation National Association UT Sells 8,168 Shares of The PNC Financial Services Group, Inc $PNC

Zions Bancorporation National Association UT lowered its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 14.3% during the third quarter, HoldingsChannel reports. The fund owned 48,886 shares of the financial services provider’s stock after selling 8,168 shares during the quarter. The PNC Financial Services Group makes up about 0.5% of Zions Bancorporation National Association UT’s portfolio, making the stock its 29th biggest holding. Zions Bancorporation National Association UT’s holdings in The PNC Financial Services Group were worth $9,823,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PNC. IMG Wealth Management Inc. acquired a new stake in The PNC Financial Services Group in the 2nd quarter worth $27,000. Westfuller Advisors LLC acquired a new position in shares of The PNC Financial Services Group during the third quarter valued at about $34,000. FNY Investment Advisers LLC bought a new stake in shares of The PNC Financial Services Group in the second quarter valued at about $37,000. True Wealth Design LLC grew its position in The PNC Financial Services Group by 1,133.3% during the second quarter. True Wealth Design LLC now owns 222 shares of the financial services provider’s stock worth $41,000 after buying an additional 204 shares in the last quarter. Finally, Bayforest Capital Ltd grew its position in The PNC Financial Services Group by 237.1% during the third quarter. Bayforest Capital Ltd now owns 209 shares of the financial services provider’s stock worth $42,000 after buying an additional 147 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $229.54 on Monday. The firm has a market capitalization of $90.02 billion, a P/E ratio of 13.84, a P/E/G ratio of 0.96 and a beta of 0.99. The stock has a fifty day moving average price of $218.84 and a two-hundred day moving average price of $201.99. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $243.94. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, topping the consensus estimate of $4.23 by $0.65. The business had revenue of $6.07 billion for the quarter, compared to analyst estimates of $5.90 billion. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.77 EPS. As a group, analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th were issued a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, January 20th. This represents a $6.80 annualized dividend and a dividend yield of 3.0%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 40.99%.

Analyst Ratings Changes

Several research firms have commented on PNC. Oppenheimer upped their price target on The PNC Financial Services Group from $268.00 to $284.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Wells Fargo & Company upped their target price on The PNC Financial Services Group from $252.00 to $264.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Royal Bank Of Canada raised their target price on The PNC Financial Services Group from $222.00 to $235.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. Keefe, Bruyette & Woods boosted their price target on shares of The PNC Financial Services Group from $228.00 to $247.00 and gave the company a “market perform” rating in a report on Tuesday, January 20th. Finally, Barclays increased their price objective on shares of The PNC Financial Services Group from $235.00 to $271.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Fifteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $234.44.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.