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

PNC Financial Services Group Inc (PNC) : First Mercantile Trust Co reduced its stake in PNC Financial Services Group Inc by 16.7% during the most recent quarter end. The investment management company now holds a total of 11,225 shares of PNC Financial Services Group Inc which is valued at $1,026,190 after selling 2,250 shares in PNC Financial Services Group Inc , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.PNC Financial Services Group Inc makes up approximately 0.14% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Exxonmobil Investment Management Inc Tx reduced its stake in PNC by selling 3,776 shares or 2.92% in the most recent quarter. The Hedge Fund company now holds 125,474 shares of PNC which is valued at $11,470,833. PNC Financial Services Group Inc makes up approx 0.24% of Exxonmobil Investment Management Inc Tx’s portfolio.Washington Trust Bank boosted its stake in PNC in the latest quarter, The investment management firm added 1,124 additional shares and now holds a total of 27,308 shares of PNC Financial Services Group Inc which is valued at $2,499,228. PNC Financial Services Group Inc makes up approx 0.60% of Washington Trust Bank’s portfolio.West Oak Capital boosted its stake in PNC in the latest quarter, The investment management firm added 52 additional shares and now holds a total of 153 shares of PNC Financial Services Group Inc which is valued at $14,003. PNC Financial Services Group Inc makes up approx 0.01% of West Oak Capital’s portfolio.Lvm Capital Management Ltdmi boosted its stake in PNC in the latest quarter, The investment management firm added 78,105 additional shares and now holds a total of 83,325 shares of PNC Financial Services Group Inc which is valued at $7,625,904. PNC Financial Services Group Inc makes up approx 2.41% of Lvm Capital Management Ltdmi’s portfolio.Bath Savings Trust Co boosted its stake in PNC in the latest quarter, The investment management firm added 560 additional shares and now holds a total of 6,781 shares of PNC Financial Services Group Inc which is valued at $620,597. PNC Financial Services Group Inc makes up approx 0.20% of Bath Savings Trust Co’s portfolio.

PNC Financial Services Group Inc closed down -0.4 points or -0.44% at $91.42 with 20,81,672 shares getting traded on Friday. Post opening the session at $91.78, the shares hit an intraday low of $90.79 and an intraday high of $91.99 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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. PNC Financial Services Group Inc was Downgraded by Nomura to ” Neutral” on Oct 10, 2016. PNC Financial Services Group Inc was Resumed by Keefe Bruyette to “Outperform” on Aug 31, 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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