Farmers National Bank increased its stake in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 1.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,216 shares of the financial services provider’s stock after buying an additional 103 shares during the period. Farmers National Bank’s holdings in PNC Financial Services Group, Inc. (The) were worth $830,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Kimelman & Baird LLC bought a new position in shares of PNC Financial Services Group, Inc. (The) during the first quarter valued at about $9,471,000. Green Square Capital LLC boosted its position in shares of PNC Financial Services Group, Inc. (The) by 0.4% in the first quarter. Green Square Capital LLC now owns 4,129 shares of the financial services provider’s stock valued at $496,000 after buying an additional 18 shares in the last quarter. Janus Capital Management LLC boosted its position in shares of PNC Financial Services Group, Inc. (The) by 518.1% in the first quarter. Janus Capital Management LLC now owns 504,933 shares of the financial services provider’s stock valued at $60,713,000 after buying an additional 423,245 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in shares of PNC Financial Services Group, Inc. (The) by 10.9% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 18,857 shares of the financial services provider’s stock valued at $2,267,000 after buying an additional 1,857 shares in the last quarter. Finally, Driehaus Capital Management LLC bought a new position in shares of PNC Financial Services Group, Inc. (The) during the first quarter valued at about $280,000. Institutional investors own 81.49% of the company’s stock.

Shares of PNC Financial Services Group, Inc. (NYSE:PNC) traded up 0.7011% on Tuesday, hitting $132.0292. 257,702 shares of the stock traded hands. The stock’s 50 day moving average price is $125.42 and its 200 day moving average price is $122.60. PNC Financial Services Group, Inc. has a 52-week low of $82.17 and a 52-week high of $132.07. The stock has a market cap of $63.37 billion, a P/E ratio of 16.8019 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, beating analysts’ consensus estimates 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 business had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter last year, the firm posted $1.82 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, equities analysts expect that PNC Financial Services Group, Inc. will post $8.38 EPS for the current fiscal year.

PNC Financial Services Group, Inc. (The) declared that its Board of Directors has initiated a share repurchase program on Wednesday, June 28th that permits the company to repurchase $2.70 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 4.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Monday, July 17th were given a $0.75 dividend. The ex-dividend date of this dividend was Thursday, July 13th. 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. PNC Financial Services Group, Inc. (The)’s payout ratio is presently 38.12%.

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Several equities analysts recently issued reports on the stock. BidaskClub upgraded shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. Zacks Investment Research cut shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Deutsche Bank AG reiterated a “buy” rating and set a $130.00 price target (up previously from $120.00) on shares of PNC Financial Services Group, Inc. (The) in a research report on Tuesday, July 25th. Morgan Stanley reiterated an “equal weight” rating and set a $127.00 price target (up previously from $121.00) on shares of PNC Financial Services Group, Inc. (The) in a research report on Monday, July 17th. Finally, Nomura boosted their price target 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 report on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $122.75.

In other news, insider Michael J. Hannon sold 24,111 shares of PNC Financial Services Group, Inc. (The) stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $126.45, for a total value 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 can be accessed through this link. Also, insider Wyk Steven C. Van sold 5,000 shares of PNC Financial Services Group, Inc. (The) stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $128.31, for a total transaction of $641,550.00. The disclosure for this sale can be found here. 0.43% of the stock is owned by insiders.

PNC Financial Services Group, Inc. (The) Company Profile

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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