The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by First Foundation Advisors

First Foundation Advisors raised its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,006 shares of the financial services provider’s stock after buying an additional 83 shares during the period. First Foundation Advisors’ holdings in The PNC Financial Services Group were worth $486,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Steph & Co. increased its position in shares of The PNC Financial Services Group by 1.8% during the fourth quarter. Steph & Co. now owns 3,720 shares of the financial services provider’s stock worth $576,000 after purchasing an additional 67 shares in the last quarter. Bangor Savings Bank increased its position in shares of The PNC Financial Services Group by 1.2% during the fourth quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock worth $888,000 after purchasing an additional 69 shares in the last quarter. Triangle Securities Wealth Management increased its position in shares of The PNC Financial Services Group by 1.8% during the first quarter. Triangle Securities Wealth Management now owns 4,019 shares of the financial services provider’s stock worth $649,000 after purchasing an additional 70 shares in the last quarter. Cooper Financial Group increased its position in shares of The PNC Financial Services Group by 1.7% during the first quarter. Cooper Financial Group now owns 4,241 shares of the financial services provider’s stock worth $685,000 after purchasing an additional 70 shares in the last quarter. Finally, Berkshire Bank increased its position in shares of The PNC Financial Services Group by 2.0% during the first quarter. Berkshire Bank now owns 3,562 shares of the financial services provider’s stock worth $576,000 after purchasing an additional 71 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wells Fargo & Company lifted their target price on The PNC Financial Services Group from $194.00 to $204.00 and gave the stock an “overweight” rating in a research report on Wednesday. Barclays raised their price target on The PNC Financial Services Group from $199.00 to $209.00 and gave the stock an “overweight” rating in a report on Wednesday. Bank of America raised their price target on The PNC Financial Services Group from $169.00 to $185.00 and gave the stock a “neutral” rating in a report on Wednesday. Citigroup raised their price target on The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, HSBC raised The PNC Financial Services Group from a “reduce” rating to a “hold” rating and raised their price target for the stock from $141.00 to $155.00 in a report on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $175.34.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC traded down $0.56 during trading on Friday, hitting $175.51. 1,601,122 shares of the stock were exchanged, compared to its average volume of 1,989,651. The company has a fifty day moving average price of $158.03 and a two-hundred day moving average price of $154.24. The company has a market cap of $69.84 billion, a PE ratio of 14.74, a P/E/G ratio of 2.27 and a beta of 1.15. The company has a current ratio of 0.83, a quick ratio of 0.85 and a debt-to-equity ratio of 1.36. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $180.97.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.30. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The firm had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the previous year, the firm posted $3.36 EPS. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, analysts forecast that The PNC Financial Services Group, Inc. will post 12.95 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Monday, July 15th will be given a dividend of $1.60 per share. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. This represents a $6.40 annualized dividend and a dividend yield of 3.65%. The ex-dividend date is Monday, July 15th. The PNC Financial Services Group’s payout ratio is currently 53.74%.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $153.19, for a total value of $98,194.79. Following the completion of the transaction, the chief executive officer now directly owns 568,323 shares in the company, valued at approximately $87,061,400.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $153.19, for a total value of $98,194.79. Following the completion of the transaction, the chief executive officer now directly owns 568,323 shares in the company, valued at approximately $87,061,400.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Richard Kevin Bynum sold 850 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the completion of the transaction, the executive vice president now owns 3,502 shares of the company’s stock, valued at $545,856.74. The disclosure for this sale can be found here. Insiders sold 6,419 shares of company stock worth $1,022,826 in the last ninety days. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.