Greenleaf Trust increased its position in PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 6.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,515 shares of the financial services provider’s stock after buying an additional 156 shares during the period. Greenleaf Trust’s holdings in PNC Financial Services Group, Inc. (The) were worth $314,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PNC. Tompkins Financial Corp increased its stake in shares of PNC Financial Services Group, Inc. (The) by 82.1% in the first quarter. Tompkins Financial Corp now owns 8,875 shares of the financial services provider’s stock valued at $750,000 after buying an additional 4,001 shares in the last quarter. Baldwin Brothers Inc. MA increased its stake in shares of PNC Financial Services Group, Inc. (The) by 104.3% in the first quarter. Baldwin Brothers Inc. MA now owns 35,098 shares of the financial services provider’s stock valued at $4,220,000 after buying an additional 17,918 shares in the last quarter. First National Bank & Trust Co. of Newtown increased its stake in shares of PNC Financial Services Group, Inc. (The) by 1.7% in the first quarter. First National Bank & Trust Co. of Newtown now owns 9,234 shares of the financial services provider’s stock valued at $1,110,000 after buying an additional 155 shares in the last quarter. Winslow Evans & Crocker Inc. increased its stake in shares of PNC Financial Services Group, Inc. (The) by 2.7% in the first quarter. Winslow Evans & Crocker Inc. now owns 11,868 shares of the financial services provider’s stock valued at $1,427,000 after buying an additional 314 shares in the last quarter. Finally, Parametrica Management Ltd purchased a new stake in shares of PNC Financial Services Group, Inc. (The) during the first quarter valued at $444,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

PNC Financial Services Group, Inc. (PNC) traded down 0.62% during mid-day trading on Friday, hitting $128.19. 1,932,401 shares of the stock were exchanged. The firm has a market cap of $61.43 billion, a P/E ratio of 16.31 and a beta of 0.93. PNC Financial Services Group, Inc. has a 12-month low of $84.60 and a 12-month high of $133.26. The company has a 50 day moving average of $126.99 and a 200 day moving average of $123.22.

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

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

The company also recently announced a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Monday, July 17th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.33%. 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 is presently 38.12%.

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Several equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $143.00 target price on the stock in a research note on Friday, July 28th. BidaskClub raised shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Keefe, Bruyette & Woods set a $125.00 target price on shares of PNC Financial Services Group, Inc. (The) and gave the company a “hold” rating in a research note on Friday, May 19th. Instinet reissued a “neutral” rating and issued a $126.00 target price on shares of PNC Financial Services Group, Inc. (The) in a research note on Wednesday, July 12th. Finally, Nomura increased their target price on shares of 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. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $122.57.

In related news, insider Wyk Steven C. Van sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The shares were 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 this hyperlink. Also, insider Michael J. Hannon sold 24,111 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now 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 currently owned by corporate 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.

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

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