BRYN MAWR TRUST Co grew its position in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 2.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,440 shares of the financial services provider’s stock after purchasing an additional 635 shares during the period. BRYN MAWR TRUST Co’s holdings in PNC Financial Services Group, Inc. (The) were worth $3,426,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC raised its position in shares of PNC Financial Services Group, Inc. (The) by 1,365.4% in the second quarter. Proficio Capital Partners LLC now owns 762 shares of the financial services provider’s stock valued at $100,000 after buying an additional 710 shares during the last quarter. First Interstate Bank lifted its stake in shares of PNC Financial Services Group, Inc. (The) by 34.0% during the first quarter. First Interstate Bank now owns 957 shares of the financial services provider’s stock valued at $115,000 after buying an additional 243 shares during the period. Ledyard National Bank lifted its stake in shares of PNC Financial Services Group, Inc. (The) by 6.3% during the second quarter. Ledyard National Bank now owns 1,257 shares of the financial services provider’s stock valued at $157,000 after buying an additional 75 shares during the period. Jacobus Wealth Management Inc. lifted its stake in shares of PNC Financial Services Group, Inc. (The) by 3.7% during the first quarter. Jacobus Wealth Management Inc. now owns 1,494 shares of the financial services provider’s stock valued at $180,000 after buying an additional 53 shares during the period. Finally, Doyle Wealth Management acquired a new stake in PNC Financial Services Group, Inc. (The) during the second quarter worth approximately $203,000. 80.80% of the stock is currently owned by institutional investors.

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In other news, insider Michael J. Hannon sold 24,111 shares of the stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $126.45, for a total transaction of $3,048,835.95. Following the transaction, the insider now owns 83,931 shares of the company’s stock, valued at approximately $10,613,074.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Wyk Steven C. Van sold 5,000 shares of the stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $128.31, for a total value of $641,550.00. The disclosure for this sale can be found here. 0.43% of the stock is owned by company insiders.

Shares of PNC Financial Services Group, Inc. (PNC) opened at 135.12 on Tuesday. The stock has a 50 day moving average price of $128.64 and a 200-day moving average price of $124.22. The firm has a market cap of $64.75 billion, a price-to-earnings ratio of 17.20 and a beta of 0.95. PNC Financial Services Group, Inc. has a 1-year low of $87.34 and a 1-year high of $135.73.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last issued its quarterly earnings data on Friday, July 14th. The financial services provider reported $2.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.08. The firm had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $3.97 billion. PNC Financial Services Group, Inc. (The) had a net margin of 24.50% and a return on equity of 9.17%. PNC Financial Services Group, Inc. (The)’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.82 earnings per share. On average, equities research analysts expect that PNC Financial Services Group, Inc. will post $8.41 earnings per share for the current fiscal year.

PNC Financial Services Group, Inc. (The) announced that its board has authorized a stock buyback program on Wednesday, June 28th that authorizes the company to repurchase $2.70 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.

PNC has been the subject of several analyst reports. Zacks Investment Research upgraded PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $143.00 price target for the company in a report on Friday, July 28th. BidaskClub upgraded PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Robert W. Baird reaffirmed a “buy” rating and issued a $135.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a research report on Monday, August 28th. Instinet reaffirmed a “neutral” rating and issued a $126.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a research report on Wednesday, July 12th. Finally, Nomura upped their target price on PNC Financial Services Group, Inc. (The) from $126.00 to $129.00 and gave the company a “neutral” rating in a research note on Monday, July 17th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $126.81.

About PNC Financial Services Group, Inc. (The)

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.

Institutional Ownership by Quarter for PNC Financial Services Group, Inc. (The) (NYSE:PNC)

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