Wilmington Savings Fund Society FSB Sells 5,427 Shares of The PNC Financial Services Group, Inc $PNC

Wilmington Savings Fund Society FSB reduced its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 18.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 23,303 shares of the financial services provider’s stock after selling 5,427 shares during the period. Wilmington Savings Fund Society FSB’s holdings in The PNC Financial Services Group were worth $4,682,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of PNC. Quarry LP acquired a new stake in shares of The PNC Financial Services Group during the third quarter worth $25,000. Westfuller Advisors LLC bought a new position in The PNC Financial Services Group during the 3rd quarter worth about $34,000. JPL Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at about $37,000. Financial Life Planners bought a new stake in shares of The PNC Financial Services Group in the third quarter valued at about $39,000. Finally, Bayforest Capital Ltd boosted its position in shares of The PNC Financial Services Group by 237.1% during the third quarter. Bayforest Capital Ltd now owns 209 shares of the financial services provider’s stock worth $42,000 after buying an additional 147 shares during the period. Institutional investors own 83.53% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Alexander E. C. Overstrom sold 2,500 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $233.91, for a total value of $584,775.00. Following the transaction, the executive vice president directly owned 21,120 shares of the company’s stock, valued at $4,940,179.20. This represents a 10.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William S. Demchak sold 50,000 shares of the firm’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $230.88, for a total transaction of $11,544,000.00. Following the sale, the chief executive officer owned 554,274 shares of the company’s stock, valued at approximately $127,970,781.12. This represents a 8.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 64,186 shares of company stock worth $14,840,973 in the last quarter. Insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $200.76 on Thursday. The firm has a market capitalization of $80.98 billion, a P/E ratio of 12.10, a price-to-earnings-growth ratio of 0.91 and a beta of 0.98. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.90. The firm’s fifty day moving average price is $220.65 and its two-hundred day moving average price is $205.19. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $243.94.

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

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th were paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Tuesday, January 20th. The PNC Financial Services Group’s payout ratio is currently 40.99%.

Analyst Upgrades and Downgrades

PNC has been the topic of several research reports. Keefe, Bruyette & Woods boosted their target price on The PNC Financial Services Group from $228.00 to $247.00 and gave the company a “market perform” rating in a research note on Tuesday, January 20th. Wells Fargo & Company increased their target price on shares of The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Royal Bank Of Canada raised their target price on shares of The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. Truist Financial increased their price objective on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the stock a “hold” rating in a research note on Thursday, December 18th. Finally, Oppenheimer raised their price objective on The PNC Financial Services Group from $268.00 to $284.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Fifteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.