Cambridge Trust Co. raised its position in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 406,346 shares of the financial services provider’s stock after buying an additional 1,473 shares during the period. PNC Financial Services Group, Inc. (The) comprises 3.5% of Cambridge Trust Co.’s investment portfolio, making the stock its largest position. Cambridge Trust Co. owned 0.08% of PNC Financial Services Group, Inc. (The) worth $50,741,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in PNC. Advisory Services Network LLC acquired a new stake in shares of PNC Financial Services Group, Inc. (The) during the first quarter worth approximately $539,000. Korea Investment CORP raised its stake in shares of PNC Financial Services Group, Inc. (The) by 48.6% in the first quarter. Korea Investment CORP now owns 439,385 shares of the financial services provider’s stock worth $52,832,000 after buying an additional 143,605 shares during the period. HPM Partners LLC acquired a new stake in shares of PNC Financial Services Group, Inc. (The) during the first quarter worth approximately $362,000. Usca Ria LLC acquired a new stake in shares of PNC Financial Services Group, Inc. (The) during the first quarter worth approximately $376,000. Finally, Maple Capital Management Inc. raised its stake in shares of PNC Financial Services Group, Inc. (The) by 1.8% in the first quarter. Maple Capital Management Inc. now owns 78,670 shares of the financial services provider’s stock worth $9,459,000 after buying an additional 1,415 shares during the period. Institutional investors and hedge funds own 81.16% of the company’s stock.

Shares of PNC Financial Services Group, Inc. (PNC) opened at 125.79 on Thursday. PNC Financial Services Group, Inc. has a 12-month low of $85.80 and a 12-month high of $133.26. The firm’s 50-day moving average is $128.40 and its 200 day moving average is $123.82. The stock has a market capitalization of $60.28 billion, a P/E ratio of 16.01 and a beta of 0.93.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last posted its earnings results on Friday, July 14th. The financial services provider reported $2.10 EPS for the quarter, topping the consensus estimate of $2.02 by $0.08. The firm had revenue of $4.06 billion for the quarter, compared to analyst estimates of $3.97 billion. PNC Financial Services Group, Inc. (The) had a return on equity of 9.17% and a net margin of 24.50%. PNC Financial Services Group, Inc. (The)’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the company earned $1.82 earnings per share. On average, equities research analysts forecast that PNC Financial Services Group, Inc. will post $8.38 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Monday, July 17th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.38%. This is a positive change from PNC Financial Services Group, Inc. (The)’s previous quarterly dividend of $0.55. The ex-dividend date was Thursday, July 13th. PNC Financial Services Group, Inc. (The)’s dividend payout ratio (DPR) is 38.12%.

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

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A number of analysts have commented on PNC shares. BidaskClub lowered shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Piper Jaffray Companies restated a “buy” rating and set a $134.00 price target on shares of PNC Financial Services Group, Inc. (The) in a research note on Sunday. Zacks Investment Research lowered shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Monday, May 22nd. Credit Suisse Group reiterated a “neutral” rating and issued a $126.00 target price (up previously from $114.00) on shares of PNC Financial Services Group, Inc. (The) in a research note on Monday, July 17th. Finally, Rafferty Capital Markets upgraded shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research note on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $123.11.

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

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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