AMG National Trust Bank Purchases 125,738 Shares of The PNC Financial Services Group, Inc $PNC

AMG National Trust Bank boosted its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 2,047.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 131,880 shares of the financial services provider's stock after purchasing an additional 125,738 shares during the quarter. AMG National Trust Bank's holdings in The PNC Financial Services Group were worth $27,443,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Monetary Solutions Ltd bought a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $25,000. Quarry LP purchased a new position in shares of The PNC Financial Services Group in the third quarter worth $25,000. Modus Advisors LLC purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter worth about $29,000. Financial Life Planners purchased a new position in The PNC Financial Services Group in the first quarter worth about $31,000. Finally, Kemnay Advisory Services Inc. bought a new position in The PNC Financial Services Group during the fourth quarter valued at $32,000. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Trading Up 0.4%

Shares of PNC stock opened at $252.85 on Tuesday. The business's fifty day moving average price is $230.50 and its 200 day moving average price is $222.41. The PNC Financial Services Group, Inc has a 1-year low of $176.88 and a 1-year high of $256.00. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a market capitalization of $101.54 billion, a PE ratio of 14.69, a P/E/G ratio of 1.03 and a beta of 0.91.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.92 by $0.40. The business had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The business's revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.51 EPS. As a group, sell-side analysts forecast that The PNC Financial Services Group, Inc will post 18.83 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th will be given a $2.00 dividend. This is a boost from The PNC Financial Services Group's previous quarterly dividend of $1.70. This represents a $8.00 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Monday, July 20th. The PNC Financial Services Group's dividend payout ratio is 39.51%.

Analyst Upgrades and Downgrades

PNC has been the topic of several research reports. Barclays raised their price target on The PNC Financial Services Group from $271.00 to $277.00 and gave the company an "overweight" rating in a research note on Thursday, April 16th. Keefe, Bruyette & Woods lifted their price target on The PNC Financial Services Group from $247.00 to $253.00 and gave the company a "market perform" rating in a research note on Thursday, April 16th. Bank of America lifted their price target on The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Stephens initiated coverage on The PNC Financial Services Group in a research report on Monday, June 15th. They issued an "overweight" rating and a $265.00 price target for the company. Finally, Oppenheimer raised their target price on The PNC Financial Services Group from $268.00 to $271.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of "Moderate Buy" and an average target price of $258.09.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,500 shares of The PNC Financial Services Group stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $238.14, for a total transaction of $357,210.00. Following the transaction, the executive vice president owned 5,059 shares of the company's stock, valued at $1,204,750.26. The trade was a 22.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Stephanie Novosel sold 1,800 shares of the company's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $228.73, for a total transaction of $411,714.00. Following the completion of the sale, the executive vice president owned 3,107 shares of the company's stock, valued at $710,664.11. This represents a 36.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 48,300 shares of company stock worth $10,694,574. Company insiders own 0.38% of the company's stock.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC's core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.

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