The PNC Financial Services Group (NYSE:PNC) EVP Louis Robert Cestello Sells 4,279 Shares

The PNC Financial Services Group, Inc (NYSE:PNC) EVP Louis Robert Cestello sold 4,279 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $234.01, for a total transaction of $1,001,328.79. Following the completion of the sale, the executive vice president directly owned 18,867 shares of the company’s stock, valued at approximately $4,415,066.67. This trade represents a 18.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

The PNC Financial Services Group Price Performance

PNC traded up $1.56 during midday trading on Wednesday, reaching $232.80. 2,362,517 shares of the company’s stock were exchanged, compared to its average volume of 2,952,891. The firm has a market capitalization of $91.30 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 0.96 and a beta of 0.99. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.94. The business has a 50-day simple moving average of $220.07 and a two-hundred day simple moving average of $202.59. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, topping analysts’ consensus estimates of $4.23 by $0.65. The company had revenue of $6.07 billion for the quarter, compared to analyst estimates of $5.90 billion. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The business’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.77 earnings per share. As a group, research analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th were issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 2.9%. The ex-dividend date was Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 40.99%.

Institutional Trading of The PNC Financial Services Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP purchased a new stake in The PNC Financial Services Group during the third quarter valued at about $25,000. IMG Wealth Management Inc. bought a new position in The PNC Financial Services Group in the second quarter worth $27,000. Modus Advisors LLC purchased a new position in shares of The PNC Financial Services Group in the 4th quarter worth about $29,000. Kemnay Advisory Services Inc. bought a new position in shares of The PNC Financial Services Group during the fourth quarter valued at $32,000. Finally, EFG International AG purchased a new position in shares of The PNC Financial Services Group in the 4th quarter worth $33,000. 83.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PNC. TD Cowen lifted their price objective on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Truist Financial boosted their price objective on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a report on Thursday, December 18th. Morgan Stanley boosted their price target on The PNC Financial Services Group from $211.00 to $221.00 and gave the company an “underweight” rating in a research note on Tuesday, January 20th. Wells Fargo & Company raised their target price on The PNC Financial Services Group from $252.00 to $264.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Finally, Barclays raised their target price on shares of The PNC Financial Services Group from $235.00 to $271.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Fifteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Moderate Buy” and an average price target of $234.44.

The PNC Financial Services Group Company Profile

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.