Cullen Frost Bankers Inc. raised its position in PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,563 shares of the financial services provider’s stock after buying an additional 12 shares during the period. Cullen Frost Bankers Inc.’s holdings in PNC Financial Services Group, Inc. (The) were worth $2,068,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. First Interstate Bank raised its stake in PNC Financial Services Group, Inc. (The) by 34.0% in the first quarter. First Interstate Bank now owns 957 shares of the financial services provider’s stock worth $115,000 after buying an additional 243 shares during the last quarter. Ledyard National Bank raised its stake in PNC Financial Services Group, Inc. (The) by 6.3% in the second quarter. Ledyard National Bank now owns 1,257 shares of the financial services provider’s stock worth $157,000 after buying an additional 75 shares during the last quarter. Jacobus Wealth Management Inc. raised its stake in PNC Financial Services Group, Inc. (The) by 3.7% in the first quarter. Jacobus Wealth Management Inc. now owns 1,494 shares of the financial services provider’s stock worth $180,000 after buying an additional 53 shares during the last quarter. Doyle Wealth Management acquired a new stake in PNC Financial Services Group, Inc. (The) during the second quarter worth $203,000. Finally, Investment Partners Ltd. OH ADV acquired a new stake in PNC Financial Services Group, Inc. (The) during the second quarter worth $210,000. 81.16% of the stock is currently owned by hedge funds and other institutional investors.

PNC Financial Services Group, Inc. (NYSE:PNC) opened at 125.79 on Thursday. The firm’s 50-day moving average is $128.40 and its 200 day moving average is $123.82. PNC Financial Services Group, Inc. has a 12-month low of $85.80 and a 12-month high of $133.26. The firm has a market cap of $60.28 billion, a P/E ratio of 16.01 and a beta of 0.93.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last issued its quarterly earnings data on Friday, July 14th. The financial services provider reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.08. PNC Financial Services Group, Inc. (The) had a return on equity of 9.17% and a net margin of 24.50%. The company 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 company earned $1.82 earnings per share. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities analysts forecast that PNC Financial Services Group, Inc. will post $8.38 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Monday, July 17th were given a dividend of $0.75 per share. The ex-dividend date was Thursday, July 13th. This represents a $3.00 dividend on an annualized basis and a yield of 2.38%. 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 dividend payout ratio (DPR) is presently 38.12%.

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

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PNC has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $129.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a research note on Friday, July 14th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $136.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a research note on Friday, August 11th. 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. BidaskClub raised shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $134.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a research note on Sunday. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. PNC Financial Services Group, Inc. (The) has an average rating of “Hold” and a consensus target price of $123.11.

In other PNC Financial Services Group, Inc. (The) news, insider Wyk Steven C. Van sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $128.31, for a total value of $641,550.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael J. Hannon sold 24,111 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The stock was 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 directly 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. 0.43% of the stock is owned by company 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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