First Foundation Advisors Sells 1,276 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

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

Several other institutional investors and hedge funds also recently bought and sold shares of the company. ORG Partners LLC grew its stake in shares of The PNC Financial Services Group by 203.7% during the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after buying an additional 110 shares during the last quarter. Bank & Trust Co bought a new position in The PNC Financial Services Group in the 2nd quarter valued at $26,000. LRI Investments LLC purchased a new stake in The PNC Financial Services Group in the first quarter worth $28,000. Palisade Asset Management LLC bought a new stake in shares of The PNC Financial Services Group during the first quarter worth $29,000. Finally, Fortis Group Advisors LLC boosted its stake in shares of The PNC Financial Services Group by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 100 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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 shares were sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the sale, the president now owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $153.08, for a total transaction of $98,124.28. Following the completion of the sale, the chief executive officer now owns 567,682 shares of the company’s stock, valued at approximately $86,900,760.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Michael P. Lyons sold 11,000 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total value of $1,997,380.00. Following the completion of the transaction, the president now directly owns 199,095 shares in the company, valued at $36,151,670.10. The disclosure for this sale can be found here. Insiders have sold a total of 25,263 shares of company stock worth $4,418,109 over the last 90 days. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Trading Down 2.1 %

NYSE:PNC opened at $178.78 on Wednesday. The stock has a market capitalization of $71.07 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 1.96 and a beta of 1.14. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $185.84. 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 has a 50 day moving average of $173.97 and a 200 day moving average of $161.22.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the prior year, the business posted $3.36 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 13.1 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

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

Analyst Upgrades and Downgrades

PNC has been the topic of several recent analyst reports. Jefferies Financial Group raised their price target on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods lifted their price target on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the company an “underperform” rating in a research note on Wednesday, July 17th. Royal Bank of Canada boosted their price target on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Finally, Barclays upped their target price on The PNC Financial Services Group from $199.00 to $209.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $177.02.

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.