The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC trimmed its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,299 shares of the financial services provider’s stock after selling 105 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in The PNC Financial Services Group were worth $357,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Bank & Trust Co purchased a new stake in shares of The PNC Financial Services Group in the second quarter valued at $26,000. ORG Partners LLC lifted its stake in The PNC Financial Services Group by 203.7% in the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 110 shares in the last quarter. LRI Investments LLC acquired a new stake in The PNC Financial Services Group during the 1st quarter worth about $28,000. Palisade Asset Management LLC purchased a new position in The PNC Financial Services Group during the 1st quarter valued at about $29,000. Finally, Core Wealth Advisors Inc. acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on PNC. Wells Fargo & Company boosted their price objective on shares of The PNC Financial Services Group from $194.00 to $204.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $185.00 to $200.00 in a research report on Thursday, August 15th. UBS Group upped their target price on The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Finally, Royal Bank of Canada boosted their price target on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus price target of $177.02.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $153.08, for a total transaction of $98,124.28. Following the completion of the transaction, the chief executive officer now owns 567,682 shares of the company’s stock, valued at $86,900,760.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other The PNC Financial Services Group news, CEO William S. Demchak sold 2,404 shares of The PNC Financial Services Group stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $160.00, for a total transaction of $384,640.00. Following the sale, the chief executive officer now owns 564,637 shares in the company, valued at $90,341,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William S. Demchak sold 641 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $153.08, for a total transaction of $98,124.28. Following the completion of the transaction, the chief executive officer now owns 567,682 shares of the company’s stock, valued at approximately $86,900,760.56. The disclosure for this sale can be found here. Insiders have sold 24,021 shares of company stock worth $4,190,611 in the last ninety days. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock traded up $2.05 during trading on Friday, reaching $185.09. The company’s stock had a trading volume of 1,978,286 shares, compared to its average volume of 1,889,618. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $185.57. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.82 and a current ratio of 0.83. The firm has a market cap of $73.65 billion, a price-to-earnings ratio of 15.55, a price-to-earnings-growth ratio of 1.92 and a beta of 1.15. The business’s fifty day moving average price is $169.52 and its 200-day moving average price is $159.10.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 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 company had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the previous year, the business posted $3.36 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, equities research analysts predict that The PNC Financial Services Group, Inc. will post 13.1 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 15th were issued a $1.60 dividend. The ex-dividend date was Monday, July 15th. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. This represents a $6.40 dividend on an annualized basis and a yield of 3.46%. The PNC Financial Services Group’s dividend payout ratio is 53.74%.

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.