First American Bank Lowers stake in PNC Financial Services Group Inc (PNC)

PNC Financial Services Group Inc (PNC) : First American Bank reduced its stake in PNC Financial Services Group Inc by 14.07% during the most recent quarter end. The investment management company now holds a total of 97,238 shares of PNC Financial Services Group Inc which is valued at $8,054,224 after selling 15,922 shares in PNC Financial Services Group Inc , the firm said in a disclosure report filed with the SEC on Jul 20, 2016.PNC Financial Services Group Inc makes up approximately 0.79% of First American Bank’s portfolio.

Other Hedge Funds, Including , Farmers Trust Co reduced its stake in PNC by selling 50 shares or 0.32% in the most recent quarter. The Hedge Fund company now holds 15,702 shares of PNC which is valued at $1,300,597. PNC Financial Services Group Inc makes up approx 0.41% of Farmers Trust Co’s portfolio.Fragasso Group reduced its stake in PNC by selling 651 shares or 3.61% in the most recent quarter. The Hedge Fund company now holds 17,381 shares of PNC which is valued at $1,426,980. PNC Financial Services Group Inc makes up approx 0.52% of Fragasso Group’s portfolio.Cardinal Capital Management boosted its stake in PNC in the latest quarter, The investment management firm added 1,070 additional shares and now holds a total of 131,464 shares of PNC Financial Services Group Inc which is valued at $10,598,628. PNC Financial Services Group Inc makes up approx 1.16% of Cardinal Capital Management’s portfolio.

PNC Financial Services Group Inc opened for trading at $82.86 and hit $82.8899 on the upside on Wednesday, eventually ending the session at $82.6, with a gain of 0.28% or 0.23 points. The heightened volatility saw the trading volume jump to 24,63,369 shares. Company has a market cap of $41,244 M.

On the company’s financial health, PNC Financial Services Group Inc reported $1.82 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jul 15, 2016. Analyst had a consensus of $1.75. The company had revenue of $3794.00 million for the quarter, compared to analysts expectations of $3826.61 million. The company’s revenue was down -1.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.88 EPS.

Many Wall Street Analysts have commented on PNC Financial Services Group Inc. Shares were Upgraded by Nomura on Jul 7, 2016 to ” Buy” and Lowered the Price Target to $ 84 from a previous price target of $95 .PNC Financial Services Group Inc was Downgraded by Raymond James to ” Underperform” on May 9, 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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