Boston Trust Walden Corp Has $14 Million Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Boston Trust Walden Corp reduced its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 6.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 90,025 shares of the financial services provider’s stock after selling 5,922 shares during the quarter. Boston Trust Walden Corp’s holdings in The PNC Financial Services Group were worth $13,997,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Triangle Securities Wealth Management lifted its position 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 buying an additional 70 shares during the last quarter. Cooper Financial Group lifted its holdings in 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 worth $685,000 after buying an additional 70 shares during the period. Berkshire Bank grew its position 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 buying an additional 71 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA raised its position in shares of The PNC Financial Services Group by 22.3% during the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 390 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 71 shares during the last quarter. Finally, Ancora Advisors LLC lifted its stake in shares of The PNC Financial Services Group by 0.8% in the first quarter. Ancora Advisors LLC now owns 9,391 shares of the financial services provider’s stock worth $1,518,000 after acquiring an additional 73 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock traded up $1.18 during midday trading on Friday, reaching $173.00. The stock had a trading volume of 1,365,469 shares, compared to its average volume of 1,923,666. The firm has a market capitalization of $68.77 billion, a PE ratio of 14.53, a P/E/G ratio of 2.14 and a beta of 1.15. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36. The firm’s 50-day moving average price is $165.06 and its 200 day moving average price is $157.33. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $182.84.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.30. The business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.40 billion. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.36 EPS. As a group, research analysts predict that The PNC Financial Services Group, Inc. will post 13.13 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 15th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend was Monday, July 15th. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 53.74%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $153.08, for a total value of $98,124.28. Following the transaction, the chief executive officer now owns 567,682 shares in the company, valued at $86,900,760.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO William S. Demchak sold 2,404 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $160.00, for a total transaction of $384,640.00. Following the sale, the chief executive officer now owns 564,637 shares in the company, valued at approximately $90,341,920. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $153.08, for a total transaction of $98,124.28. Following the transaction, the chief executive officer now directly owns 567,682 shares of the company’s stock, valued at $86,900,760.56. The disclosure for this sale can be found here. Insiders sold a total of 21,537 shares of company stock worth $3,758,458 over the last three months. Company insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

PNC has been the subject of several analyst reports. Wells Fargo & Company raised their price target on shares of The PNC Financial Services Group from $194.00 to $204.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $185.00 to $200.00 in a research note on Thursday. Citigroup raised their price objective 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. Jefferies Financial Group upped their target price on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Finally, StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and a consensus target price of $177.02.

About The PNC Financial Services Group

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.