PNC Financial Services Group, Inc. (The) (PNC) Stake Held by First City Capital Management Inc.

First City Capital Management Inc. maintained its position in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,374 shares of the financial services provider’s stock at the end of the second quarter. First City Capital Management Inc.’s holdings in PNC Financial Services Group, Inc. (The) were worth $546,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PNC. Empire Life Investments Inc. bought a new position in PNC Financial Services Group, Inc. (The) in the 1st quarter valued at about $4,446,000. Pax World Management LLC raised its holdings in PNC Financial Services Group, Inc. (The) by 6.1% in the 1st quarter. Pax World Management LLC now owns 3,500 shares of the financial services provider’s stock valued at $421,000 after acquiring an additional 200 shares during the period. Engineers Gate Manager LP raised its holdings in PNC Financial Services Group, Inc. (The) by 262.1% in the 1st quarter. Engineers Gate Manager LP now owns 7,966 shares of the financial services provider’s stock valued at $958,000 after acquiring an additional 5,766 shares during the period. First Personal Financial Services raised its holdings in PNC Financial Services Group, Inc. (The) by 10.1% in the 1st quarter. First Personal Financial Services now owns 3,979 shares of the financial services provider’s stock valued at $478,000 after acquiring an additional 366 shares during the period. Finally, Commerce Bank raised its holdings in PNC Financial Services Group, Inc. (The) by 28.4% in the 1st quarter. Commerce Bank now owns 15,542 shares of the financial services provider’s stock valued at $1,869,000 after acquiring an additional 3,438 shares during the period. 80.80% of the stock is currently owned by hedge funds and other institutional investors.

Shares of PNC Financial Services Group, Inc. (PNC) opened at 136.72 on Wednesday. The firm has a 50-day moving average of $129.77 and a 200-day moving average of $124.86. The firm has a market cap of $65.52 billion, a price-to-earnings ratio of 17.40 and a beta of 0.95. PNC Financial Services Group, Inc. has a 12 month low of $87.34 and a 12 month high of $136.92.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last issued its quarterly earnings results on Friday, July 14th. The financial services provider reported $2.10 EPS for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.08. The firm had revenue of $4.06 billion for the quarter, compared to analyst estimates of $3.97 billion. PNC Financial Services Group, Inc. (The) had a net margin of 24.50% and a return on equity of 9.17%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.82 EPS. On average, analysts anticipate that PNC Financial Services Group, Inc. will post $8.41 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, November 5th. Stockholders of record on Tuesday, October 17th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Monday, October 16th. PNC Financial Services Group, Inc. (The)’s payout ratio is 38.12%.

PNC Financial Services Group, Inc. (The) declared that its Board of Directors has approved a share buyback program on Wednesday, June 28th that authorizes the company to repurchase $2.70 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 4.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

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Several research analysts have weighed in on the stock. J P Morgan Chase & Co reissued an “overweight” rating and issued a $139.50 price target (up from $138.50) on shares of PNC Financial Services Group, Inc. (The) in a report on Friday, October 6th. Citigroup Inc. reissued a “neutral” rating and issued a $144.00 price target (up from $125.00) on shares of PNC Financial Services Group, Inc. (The) in a report on Monday. Zacks Investment Research raised shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $152.00 price target on the stock in a report on Tuesday. Instinet reissued a “neutral” rating and issued a $132.00 price target (up from $129.00) on shares of PNC Financial Services Group, Inc. (The) in a report on Saturday, September 30th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $135.00 target price on shares of PNC Financial Services Group, Inc. (The) in a report on Sunday, October 1st. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $129.26.

In other news, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 completion of the transaction, 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. 0.43% of the stock is owned by corporate insiders.

PNC Financial Services Group, Inc. (The) Profile

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.

Institutional Ownership by Quarter for PNC Financial Services Group, Inc. (The) (NYSE:PNC)

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