Mount Vernon Associates Inc. MD Grows Stock Position in PNC Financial Services Group Inc (NYSE:PNC)

Mount Vernon Associates Inc. MD lifted its stake in PNC Financial Services Group Inc (NYSE:PNC) by 57.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 4,400 shares of the financial services provider’s stock after buying an additional 1,600 shares during the period. Mount Vernon Associates Inc. MD’s holdings in PNC Financial Services Group were worth $604,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GYL Financial Synergies LLC purchased a new position in shares of PNC Financial Services Group in the first quarter worth about $940,000. Moors & Cabot Inc. increased its holdings in shares of PNC Financial Services Group by 2.9% in the second quarter. Moors & Cabot Inc. now owns 11,036 shares of the financial services provider’s stock worth $1,510,000 after buying an additional 311 shares during the period. Park National Corp OH increased its holdings in shares of PNC Financial Services Group by 9.6% in the second quarter. Park National Corp OH now owns 74,862 shares of the financial services provider’s stock worth $10,277,000 after buying an additional 6,529 shares during the period. Joel Isaacson & Co. LLC increased its holdings in shares of PNC Financial Services Group by 31.8% in the second quarter. Joel Isaacson & Co. LLC now owns 4,166 shares of the financial services provider’s stock worth $572,000 after buying an additional 1,006 shares during the period. Finally, Wesbanco Bank Inc. increased its holdings in shares of PNC Financial Services Group by 8.1% in the first quarter. Wesbanco Bank Inc. now owns 89,898 shares of the financial services provider’s stock worth $11,027,000 after buying an additional 6,739 shares during the period. Hedge funds and other institutional investors own 80.59% of the company’s stock.

PNC Financial Services Group stock opened at $137.96 on Monday. The firm’s 50 day moving average price is $138.72. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market cap of $62.28 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 1.80 and a beta of 1.07. PNC Financial Services Group Inc has a fifty-two week low of $108.45 and a fifty-two week high of $147.00.

PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $2.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.83 by $0.05. The business had revenue of $4.44 billion for the quarter, compared to analysts’ expectations of $4.40 billion. PNC Financial Services Group had a return on equity of 11.10% and a net margin of 25.46%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.72 EPS. As a group, equities analysts forecast that PNC Financial Services Group Inc will post 11.29 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Friday, July 19th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.33%. This is a boost from PNC Financial Services Group’s previous quarterly dividend of $0.95. The ex-dividend date is Thursday, July 18th. PNC Financial Services Group’s payout ratio is presently 42.95%.

In other PNC Financial Services Group news, CEO William S. Demchak sold 75,000 shares of PNC Financial Services Group stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $140.63, for a total transaction of $10,547,250.00. Following the sale, the chief executive officer now directly owns 657,179 shares of the company’s stock, valued at approximately $92,419,082.77. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael P. Lyons sold 14,285 shares of PNC Financial Services Group stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $138.84, for a total value of $1,983,329.40. Following the sale, the executive vice president now directly owns 135,484 shares in the company, valued at $18,810,598.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 141,242 shares of company stock worth $19,853,468. Insiders own 0.37% of the company’s stock.

A number of research analysts recently issued reports on PNC shares. Barclays boosted their price target on PNC Financial Services Group from $156.00 to $157.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Morgan Stanley reduced their price target on PNC Financial Services Group from $142.00 to $136.00 and set an “equal weight” rating on the stock in a report on Monday, July 8th. ValuEngine downgraded PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Thursday. Finally, JPMorgan Chase & Co. boosted their price target on PNC Financial Services Group from $137.50 to $142.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $142.99.

PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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