Field & Main Bank Invests $1.20 Million in The PNC Financial Services Group, Inc $PNC

Field & Main Bank bought a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 4,890 shares of the financial services provider's stock, valued at approximately $1,204,000.

A number of other large investors have also added to or reduced their stakes in the business. Quarry LP acquired a new position in The PNC Financial Services Group in the 3rd quarter valued at about $25,000. Monetary Solutions Ltd bought a new position in The PNC Financial Services Group in the 4th quarter valued at about $25,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in The PNC Financial Services Group during the second quarter worth approximately $28,000. Modus Advisors LLC acquired a new stake in The PNC Financial Services Group during the fourth quarter worth approximately $29,000. Finally, Financial Life Planners bought a new stake in shares of The PNC Financial Services Group during the first quarter worth approximately $31,000. Institutional investors own 83.53% of the company's stock.

Insider Buying and Selling

In other news, EVP Stephanie Novosel sold 1,800 shares of the business's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the transaction, the executive vice president directly owned 3,107 shares in the company, valued at approximately $710,664.11. The trade was a 36.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Stacy M. Juchno sold 3,354 shares of the company's stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $255.84, for a total transaction of $858,087.36. Following the sale, the executive vice president directly owned 18,800 shares of the company's stock, valued at approximately $4,809,792. This trade represents a 15.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 6,654 shares of company stock valued at $1,627,011 over the last quarter. 0.38% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on PNC shares. Morgan Stanley upped their target price on The PNC Financial Services Group from $267.00 to $278.00 and gave the company an "equal weight" rating in a research report on Monday, June 29th. Weiss Ratings reissued a "buy (b)" rating on shares of The PNC Financial Services Group in a report on Wednesday, July 15th. Citigroup boosted their price target on The PNC Financial Services Group from $280.00 to $290.00 and gave the company a "buy" rating in a research note on Monday, July 20th. UBS Group upped their price objective on The PNC Financial Services Group from $263.00 to $288.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. increased their price objective on The PNC Financial Services Group from $264.50 to $269.50 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group has an average rating of "Moderate Buy" and a consensus target price of $265.73.

The PNC Financial Services Group Trading Down 0.5%

Shares of NYSE:PNC opened at $242.24 on Friday. The business's 50 day simple moving average is $249.40 and its 200 day simple moving average is $229.61. The PNC Financial Services Group, Inc has a 1 year low of $176.88 and a 1 year high of $258.96. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.85 and a quick ratio of 0.84. The company has a market capitalization of $96.64 billion, a P/E ratio of 13.33, a P/E/G ratio of 0.97 and a beta of 0.91.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share for the quarter, beating the consensus estimate of $4.46 by $0.39. The firm had revenue of $6.88 billion during the quarter, compared to analysts' expectations of $6.51 billion. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The company's quarterly revenue was up 21.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.85 EPS. On average, research analysts anticipate that The PNC Financial Services Group, Inc will post 19.25 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 5th. Investors of record on Monday, July 20th were given a dividend of $2.00 per share. This is a positive change from The PNC Financial Services Group's previous quarterly dividend of $1.70. This represents a $8.00 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Monday, July 20th. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 44.03%.

About The PNC Financial Services Group

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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