Farmers Trust Co. decreased its stake in PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 1.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 12,960 shares of the financial services provider’s stock after selling 229 shares during the period. Farmers Trust Co.’s holdings in PNC Financial Services Group, Inc. (The) were worth $1,618,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Capital One National Association raised its stake in PNC Financial Services Group, Inc. (The) by 11.8% in the second quarter. Capital One National Association now owns 15,071 shares of the financial services provider’s stock valued at $1,882,000 after buying an additional 1,585 shares during the period. Cardinal Capital Management Inc. raised its stake in PNC Financial Services Group, Inc. (The) by 1.5% in the second quarter. Cardinal Capital Management Inc. now owns 121,751 shares of the financial services provider’s stock valued at $15,203,000 after buying an additional 1,850 shares during the period. BKD Wealth Advisors LLC raised its stake in PNC Financial Services Group, Inc. (The) by 41.7% in the second quarter. BKD Wealth Advisors LLC now owns 2,755 shares of the financial services provider’s stock valued at $344,000 after buying an additional 811 shares during the period. Fox Run Management L.L.C. acquired a new stake in PNC Financial Services Group, Inc. (The) during the second quarter valued at $974,000. Finally, First Command Bank raised its stake in PNC Financial Services Group, Inc. (The) by 70.2% in the second quarter. First Command Bank now owns 3,757 shares of the financial services provider’s stock valued at $468,000 after buying an additional 1,549 shares during the period. 82.12% of the stock is currently owned by institutional investors and hedge funds.

PNC Financial Services Group, Inc. (NYSE PNC) traded down 0.10% on Tuesday, hitting $130.77. 694,000 shares of the stock traded hands. The stock has a 50-day moving average price of $127.52 and a 200 day moving average price of $123.42. PNC Financial Services Group, Inc. has a 12-month low of $84.60 and a 12-month high of $133.26. The stock has a market cap of $62.67 billion, a P/E ratio of 16.64 and a beta of 0.93.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last posted its quarterly 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. The business had revenue of $4.06 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.82 earnings per share. On average, equities analysts expect that PNC Financial Services Group, Inc. will post $8.38 EPS for the current fiscal year.

The firm also recently declared 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 2.29%. This is an increase 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 payout ratio is 38.12%.

PNC Financial Services Group, Inc. (The) declared that its Board of Directors has initiated a share buyback plan on Wednesday, June 28th that permits the company to buyback $2.70 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 4.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

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Several research firms recently weighed in on PNC. BidaskClub lowered shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Saturday. Jefferies Group LLC reiterated a “hold” rating and set a $136.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a research note on Friday. Wells Fargo & Company began coverage on shares of PNC Financial Services Group, Inc. (The) in a research note on Wednesday, August 9th. They set a “market perform” rating and a $119.00 price objective on the stock. 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 Thursday, August 3rd. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $130.00 price objective (up previously from $120.00) on shares of PNC Financial Services Group, Inc. (The) in a research note on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $122.57.

In related news, insider Wyk Steven C. Van sold 5,000 shares of the business’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael J. Hannon sold 24,111 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The shares were 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 disclosure for this sale can be found here. Insiders own 0.43% of the company’s stock.

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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