Home Federal Bank of Tennessee maintained its position in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,900 shares of the financial services provider’s stock at the end of the second quarter. Home Federal Bank of Tennessee’s holdings in PNC Financial Services Group, Inc. (The) were worth $237,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PNC. Parametrica Management Ltd purchased a new position in shares of PNC Financial Services Group, Inc. (The) during the first quarter worth approximately $444,000. Inverness Counsel LLC NY raised its position in shares of PNC Financial Services Group, Inc. (The) by 1.6% in the first quarter. Inverness Counsel LLC NY now owns 228,228 shares of the financial services provider’s stock worth $26,474,000 after buying an additional 3,685 shares during the last quarter. Private Trust Co. NA raised its position in shares of PNC Financial Services Group, Inc. (The) by 1.7% in the first quarter. Private Trust Co. NA now owns 11,455 shares of the financial services provider’s stock worth $1,377,000 after buying an additional 192 shares during the last quarter. Gierl Augustine Investment Management Inc raised its position in shares of PNC Financial Services Group, Inc. (The) by 11.2% in the first quarter. Gierl Augustine Investment Management Inc now owns 2,569 shares of the financial services provider’s stock worth $309,000 after buying an additional 259 shares during the last quarter. Finally, Honkamp Krueger Financial Services Inc. raised its position in shares of PNC Financial Services Group, Inc. (The) by 6.5% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 3,100 shares of the financial services provider’s stock worth $373,000 after buying an additional 188 shares during the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Shares of PNC Financial Services Group, Inc. (PNC) traded down 0.52% during mid-day trading on Wednesday, reaching $131.67. The company had a trading volume of 1,202,485 shares. The firm has a market capitalization of $63.20 billion, a price-to-earnings ratio of 16.76 and a beta of 0.93. PNC Financial Services Group, Inc. has a one year low of $84.60 and a one year high of $132.67. The stock has a 50 day moving average of $126.06 and a 200-day moving average of $122.79.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last posted its quarterly earnings data on Friday, July 14th. The financial services provider reported $2.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.08. The firm had revenue of $4.06 billion during the quarter, compared to analyst estimates 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%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the business posted $1.82 EPS. Equities analysts predict that PNC Financial Services Group, Inc. will post $8.38 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 7th. Shareholders of record on Monday, July 17th were paid a $0.75 dividend. 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. This represents a $3.00 annualized dividend and a yield of 2.27%. 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 buyback plan on Wednesday, June 28th that permits the company to repurchase $2.70 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 4.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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A number of research analysts have commented on the company. Zacks Investment Research lowered PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. BidaskClub upgraded PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. Deutsche Bank AG reiterated a “buy” rating and issued a $130.00 price objective (up from $120.00) on shares of PNC Financial Services Group, Inc. (The) in a research report on Tuesday, July 25th. Instinet reiterated 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, Morgan Stanley reiterated an “equal weight” rating and issued a $127.00 price objective (up from $121.00) on shares of PNC Financial Services Group, Inc. (The) in a research report on Monday, July 17th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. PNC Financial Services Group, Inc. (The) currently has a consensus rating of “Hold” and an average target price of $122.75.

In other PNC Financial Services Group, Inc. (The) news, insider Michael J. Hannon sold 24,111 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 83,931 shares in the company, valued at approximately $10,613,074.95. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 transaction of $641,550.00. The disclosure for this sale can be found here. Company 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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