Provident Trust Co Lowers stake in PNC Financial Services Group Inc (PNC)

PNC Financial Services Group Inc (PNC) : Provident Trust Co reduced its stake in PNC Financial Services Group Inc by 1.78% during the most recent quarter end. The investment management company now holds a total of 1,379,422 shares of PNC Financial Services Group Inc which is valued at $121,085,663 after selling 24,971 shares in PNC Financial Services Group Inc , the firm said in a disclosure report filed with the SEC on Apr 25, 2016.PNC Financial Services Group Inc makes up approximately 6.63% of Provident Trust Co’s portfolio.

PNC Financial Services Group Inc opened for trading at $88.52 and hit $88.55 on the upside on Monday, eventually ending the session at $87.91, with a gain of 0.15% or 0.13 points. The heightened volatility saw the trading volume jump to 28,67,535 shares. Company has a market cap of $44,052 M.

Other Hedge Funds, Including , Hudson Valley Investment Advisors Inc Adv boosted its stake in PNC in the latest quarter, The investment management firm added 275 additional shares and now holds a total of 17,487 shares of PNC Financial Services Group Inc which is valued at $1,535,009. PNC Financial Services Group Inc makes up approx 0.50% of Hudson Valley Investment Advisors Inc Adv’s portfolio.First National Bank Trust Co Of Newtown boosted its stake in PNC in the latest quarter, The investment management firm added 67 additional shares and now holds a total of 9,079 shares of PNC Financial Services Group Inc which is valued at $799,769. PNC Financial Services Group Inc makes up approx 0.25% of First National Bank Trust Co Of Newtown’s portfolio. Beacon Capital Management sold out all of its stake in PNC during the most recent quarter. The investment firm sold 117 shares of PNC which is valued $10,307.Gofen Glossberg Il reduced its stake in PNC by selling 19 shares or 0.1% in the most recent quarter. The Hedge Fund company now holds 18,315 shares of PNC which is valued at $1,541,390. PNC Financial Services Group Inc makes up approx 0.06% of Gofen Glossberg Il’s portfolio.

On the company’s financial health, PNC Financial Services Group Inc reported $1.68 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Apr 14, 2016. Analyst had a consensus of $1.70. The company had revenue of $3665.00 million for the quarter, compared to analysts expectations of $3758.25 million. The company’s revenue was down -1.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.75 EPS.

Many Wall Street Analysts have commented on PNC Financial Services Group Inc. Shares were Reiterated by Compass Point on Apr 15, 2016 to “Neutral” and Lowered the Price Target to $ 93 from a previous price target of $99 .PNC Financial Services Group Inc was Downgraded by Atlantic Equities to ” Neutral” on Mar 14, 2016.

The PNC Financial Services Group Inc. is a diversified financial services company in the United States. The Company has businesses engaged in retail banking corporate and institutional banking asset management and residential mortgage banking as well as other products and services in its primary geographic markets located in Pennsylvania Ohio New Jersey Michigan Illinois Maryland Indiana North Carolina Florida Kentucky Washington D.C. Delaware Virginia Alabama Missouri Georgia Wisconsin and South Carolina. The Company operates through six segments: Retail Banking Corporate & Institutional Banking Asset Management Group Residential Mortgage Banking BlackRock and Non-Strategic Assets Portfolio.

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