First Foundation Advisors Lowers Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

First Foundation Advisors lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 42.4% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,730 shares of the financial services provider’s stock after selling 1,276 shares during the period. First Foundation Advisors’ holdings in The PNC Financial Services Group were worth $269,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Valley Brook Capital Group Inc. boosted its holdings in The PNC Financial Services Group by 0.6% during the second quarter. Valley Brook Capital Group Inc. now owns 10,598 shares of the financial services provider’s stock worth $1,648,000 after buying an additional 62 shares in the last quarter. Triangle Securities Wealth Management boosted its stake in shares of The PNC Financial Services Group by 1.8% during the 1st quarter. Triangle Securities Wealth Management now owns 4,019 shares of the financial services provider’s stock worth $649,000 after acquiring an additional 70 shares in the last quarter. Cooper Financial Group grew its position in shares of The PNC Financial Services Group by 1.7% during the 1st quarter. Cooper Financial Group now owns 4,241 shares of the financial services provider’s stock valued at $685,000 after acquiring an additional 70 shares during the period. Berkshire Bank increased its stake in shares of The PNC Financial Services Group by 2.0% in the 1st quarter. Berkshire Bank now owns 3,562 shares of the financial services provider’s stock valued at $576,000 after purchasing an additional 71 shares in the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA raised its holdings in The PNC Financial Services Group by 22.3% in the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 390 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 71 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

PNC has been the topic of several research analyst reports. UBS Group raised their price objective on The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Citigroup lifted their price target on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods upped their price objective on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 17th. Jefferies Financial Group lifted their target price on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Finally, Evercore ISI upped their price target on shares of The PNC Financial Services Group from $184.00 to $200.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $177.02.

Insider Buying and Selling

In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total value of $1,997,380.00. Following the sale, the president now owns 199,095 shares of the company’s stock, valued at $36,151,670.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total value of $1,997,380.00. Following the completion of the sale, the president now directly owns 199,095 shares of the company’s stock, valued at $36,151,670.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William S. Demchak sold 2,404 shares of the stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $160.00, for a total value of $384,640.00. Following the transaction, the chief executive officer now directly owns 564,637 shares in the company, valued at approximately $90,341,920. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,263 shares of company stock valued at $4,418,109. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Down 2.1 %

PNC stock opened at $178.78 on Wednesday. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $185.84. The firm has a market cap of $71.07 billion, a PE ratio of 15.01, a PEG ratio of 1.96 and a beta of 1.14. The firm’s 50 day moving average price is $173.97 and its 200-day moving average price is $161.22. 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 PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the business earned $3.36 earnings per share. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.1 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 15th were issued a $1.60 dividend. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. This represents a $6.40 annualized dividend and a dividend yield of 3.58%. The ex-dividend date was Monday, July 15th. The PNC Financial Services Group’s dividend payout ratio is currently 53.74%.

The PNC Financial Services Group Company 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.