Breton Hill Capital Ltd. Has $2.34 Million Position in PNC Financial Services Group, Inc. (The) (NYSE:PNC)

Breton Hill Capital Ltd. increased its position in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,752 shares of the financial services provider’s stock after buying an additional 17 shares during the period. Breton Hill Capital Ltd.’s holdings in PNC Financial Services Group, Inc. (The) were worth $2,342,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Advisory Services Network LLC acquired a new position in shares of PNC Financial Services Group, Inc. (The) during the first quarter worth about $539,000. Korea Investment CORP raised its position in shares of PNC Financial Services Group, Inc. (The) by 48.6% in the first quarter. Korea Investment CORP now owns 439,385 shares of the financial services provider’s stock worth $52,832,000 after buying an additional 143,605 shares during the period. First National Bank & Trust Co. of Newtown raised its position in shares of PNC Financial Services Group, Inc. (The) by 1.7% in the first quarter. First National Bank & Trust Co. of Newtown now owns 9,234 shares of the financial services provider’s stock worth $1,110,000 after buying an additional 155 shares during the period. Rockland Trust Co. raised its position in shares of PNC Financial Services Group, Inc. (The) by 5.2% in the first quarter. Rockland Trust Co. now owns 3,790 shares of the financial services provider’s stock worth $456,000 after buying an additional 187 shares during the period. Finally, HPM Partners LLC acquired a new position in shares of PNC Financial Services Group, Inc. (The) during the first quarter worth about $362,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

Shares of PNC Financial Services Group, Inc. (NYSE PNC) traded down 0.62% on Friday, reaching $128.19. The company’s stock had a trading volume of 1,932,401 shares. PNC Financial Services Group, Inc. has a 52-week low of $84.60 and a 52-week high of $133.26. The firm has a 50 day moving average of $126.99 and a 200 day moving average of $123.22. The company has a market cap of $61.43 billion, a PE ratio of 16.31 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, topping the consensus estimate of $2.02 by $0.08. PNC Financial Services Group, Inc. (The) had a net margin of 24.50% and a return on equity of 9.17%. The company had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter in the previous year, the firm posted $1.82 earnings per share. PNC Financial Services Group, Inc. (The)’s revenue for the quarter was up 7.0% on a year-over-year basis. Analysts predict that PNC Financial Services Group, Inc. will post $8.38 earnings per share for the current year.

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 outstanding 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 typically an indication that the company’s leadership believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Monday, July 17th were paid a $0.75 dividend. This is a boost 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 dividend yield of 2.33%. PNC Financial Services Group, Inc. (The)’s payout ratio is currently 38.12%.

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PNC has been the subject of a number of analyst reports. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of PNC Financial Services Group, Inc. (The) in a research report on Monday, April 17th. Rafferty Capital Markets downgraded PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating and set a $121.00 price objective on the stock. in a research note on Monday, April 17th. Zacks Investment Research lowered PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research report on Monday, June 19th. Hilliard Lyons raised PNC Financial Services Group, Inc. (The) from an “underperform” rating to a “hold” rating and cut their target price for the stock from $127.00 to $123.00 in a research report on Monday, April 17th. Finally, Instinet boosted their target price on PNC Financial Services Group, Inc. (The) from $121.00 to $127.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 19th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. PNC Financial Services Group, Inc. (The) presently has an average rating of “Hold” and an average target price of $122.57.

In related news, insider Wyk Steven C. Van sold 5,000 shares of the business’s 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael J. Hannon sold 24,111 shares of the business’s 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 completion of the sale, the insider now directly owns 83,931 shares in the company, valued at approximately $10,613,074.95. The disclosure for this sale can be found here. 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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