VNBTrust National Association held its stake in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,486 shares of the financial services provider’s stock at the end of the second quarter. VNBTrust National Association’s holdings in PNC Financial Services Group, Inc. (The) were worth $310,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Coastline Trust Co boosted its stake in shares of PNC Financial Services Group, Inc. (The) by 11.8% in the first quarter. Coastline Trust Co now owns 2,835 shares of the financial services provider’s stock worth $341,000 after buying an additional 300 shares during the period. DnB Asset Management AS boosted its stake in shares of PNC Financial Services Group, Inc. (The) by 5.2% in the first quarter. DnB Asset Management AS now owns 52,155 shares of the financial services provider’s stock worth $6,271,000 after buying an additional 2,600 shares during the period. Pinnacle Bank bought a new stake in shares of PNC Financial Services Group, Inc. (The) during the first quarter worth $157,000. Viking Fund Management LLC boosted its stake in shares of PNC Financial Services Group, Inc. (The) by 37.5% in the first quarter. Viking Fund Management LLC now owns 5,500 shares of the financial services provider’s stock worth $661,000 after buying an additional 1,500 shares during the period. Finally, Tompkins Financial Corp boosted 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 worth $750,000 after buying an additional 4,001 shares during the period. Hedge funds and other institutional investors own 81.49% of the company’s stock.

PNC Financial Services Group, Inc. (NYSE PNC) traded down 0.73% during mid-day trading on Friday, reaching $128.05. The company had a trading volume of 2,931,654 shares. The firm’s 50 day moving average price is $127.20 and its 200-day moving average price is $123.30. PNC Financial Services Group, Inc. has a 12 month low of $84.97 and a 12 month high of $133.26. The company has a market capitalization of $61.36 billion, a price-to-earnings ratio of 16.30 and a beta of 0.93.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last released its quarterly earnings results on Friday, July 14th. The financial services provider reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.08. The business had revenue of $4.06 billion for the quarter, compared to analysts’ expectations 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%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.82 EPS. Equities research analysts anticipate that PNC Financial Services Group, Inc. will post $8.38 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, August 7th. Shareholders of record on Monday, July 17th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date was Thursday, July 13th. This is a boost from PNC Financial Services Group, Inc. (The)’s previous quarterly dividend of $0.55. PNC Financial Services Group, Inc. (The)’s dividend payout ratio is 38.12%.

PNC Financial Services Group, Inc. (The) announced that its Board of Directors has approved a share repurchase plan 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 reacquire up to 4.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

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A number of brokerages recently weighed in on PNC. Wells Fargo & Company began coverage on PNC Financial Services Group, Inc. (The) in a research note on Wednesday. They set a “market perform” rating and a $119.00 price objective for the company. Zacks Investment Research cut PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. BidaskClub upgraded PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Deutsche Bank AG reiterated a “buy” rating and issued a $130.00 price target (up from $120.00) on shares of PNC Financial Services Group, Inc. (The) in a research note on Tuesday, July 25th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $136.00 price target on shares of PNC Financial Services Group, Inc. (The) in a research note on Friday. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. PNC Financial Services Group, Inc. (The) currently has an average rating of “Hold” and an average target price of $122.57.

In other PNC Financial Services Group, Inc. (The) news, insider Michael J. Hannon sold 24,111 shares of the stock in a transaction 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 approximately $10,613,074.95. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Wyk Steven C. Van sold 5,000 shares of the stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $128.31, for a total value of $641,550.00. 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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