PNC Financial Services Group Inc (NYSE:PNC) Shares Purchased by Sandy Spring Bank

Sandy Spring Bank boosted its holdings in PNC Financial Services Group Inc (NYSE:PNC) by 490.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 49,247 shares of the financial services provider’s stock after acquiring an additional 40,904 shares during the period. Sandy Spring Bank’s holdings in PNC Financial Services Group were worth $6,761,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Coastal Investment Advisors Inc. lifted its holdings in PNC Financial Services Group by 106.1% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 1,286 shares of the financial services provider’s stock valued at $174,000 after purchasing an additional 662 shares in the last quarter. Provident Trust Co. lifted its holdings in PNC Financial Services Group by 5.6% in the 2nd quarter. Provident Trust Co. now owns 1,634,479 shares of the financial services provider’s stock valued at $224,381,000 after purchasing an additional 87,388 shares in the last quarter. Tdam USA Inc. lifted its holdings in PNC Financial Services Group by 1.7% in the 2nd quarter. Tdam USA Inc. now owns 13,367 shares of the financial services provider’s stock valued at $1,835,000 after purchasing an additional 224 shares in the last quarter. Dumont & Blake Investment Advisors LLC lifted its holdings in PNC Financial Services Group by 1.3% in the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 7,350 shares of the financial services provider’s stock valued at $1,009,000 after purchasing an additional 94 shares in the last quarter. Finally, Wedbush Securities Inc. lifted its holdings in PNC Financial Services Group by 12.5% in the 2nd quarter. Wedbush Securities Inc. now owns 2,431 shares of the financial services provider’s stock valued at $334,000 after purchasing an additional 270 shares in the last quarter. Institutional investors own 81.65% of the company’s stock.

A number of research analysts have issued reports on PNC shares. ValuEngine lowered shares of PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Morgan Stanley set a $141.00 price objective on shares of PNC Financial Services Group and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. increased their price objective on shares of PNC Financial Services Group from $137.50 to $142.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $143.41.

In related news, CEO William S. Demchak sold 75,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $140.63, for a total transaction of $10,547,250.00. Following the completion of the sale, the chief executive officer now owns 657,179 shares of the company’s stock, valued at approximately $92,419,082.77. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Stacy M. Juchno sold 710 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $141.90, for a total transaction of $100,749.00. Following the sale, the executive vice president now directly owns 4,583 shares of the company’s stock, valued at approximately $650,327.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 141,242 shares of company stock worth $19,853,468. Insiders own 0.37% of the company’s stock.

Shares of PNC stock traded down $6.00 during trading hours on Wednesday, hitting $124.75. 128,841 shares of the company were exchanged, compared to its average volume of 2,064,554. The stock has a market cap of $58.93 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 1.72 and a beta of 1.07. PNC Financial Services Group Inc has a 1 year low of $108.45 and a 1 year high of $147.00. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 0.90. The business’s fifty day moving average price is $138.47.

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

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Friday, July 19th were issued a dividend of $1.15 per share. This is a positive change from PNC Financial Services Group’s previous quarterly dividend of $0.95. This represents a $4.60 annualized dividend and a dividend yield of 3.69%. The ex-dividend date was Thursday, July 18th. PNC Financial Services Group’s dividend payout ratio is presently 42.95%.

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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