The PNC Financial Services Group (NYSE:PNC) EVP Richard Kevin Bynum Sells 7,407 Shares

The PNC Financial Services Group, Inc (NYSE:PNC) EVP Richard Kevin Bynum sold 7,407 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $230.98, for a total value of $1,710,868.86. Following the completion of the transaction, the executive vice president owned 1,942 shares of the company’s stock, valued at $448,563.16. The trade was a 79.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

The PNC Financial Services Group Trading Up 0.7%

The PNC Financial Services Group stock traded up $1.56 during trading on Wednesday, reaching $232.80. The company had a trading volume of 2,362,517 shares, compared to its average volume of 2,952,891. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market capitalization of $91.30 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 0.96 and a beta of 0.99. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $243.94. The stock’s 50 day moving average price is $220.07 and its two-hundred day moving average price is $202.59.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results 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 business 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 quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the company posted $3.77 EPS. As a group, equities analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

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

Hedge Funds Weigh In On The PNC Financial Services Group

A number of hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in The PNC Financial Services Group during the 4th quarter valued at approximately $1,967,080,000. Viking Global Investors LP grew its position in shares of The PNC Financial Services Group by 234.9% during the third quarter. Viking Global Investors LP now owns 7,956,766 shares of the financial services provider’s stock worth $1,598,753,000 after acquiring an additional 5,581,102 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of The PNC Financial Services Group by 108.2% in the 4th quarter. Deutsche Bank AG now owns 3,836,936 shares of the financial services provider’s stock worth $800,884,000 after acquiring an additional 1,994,431 shares during the period. AQR Capital Management LLC lifted its position in The PNC Financial Services Group by 134.9% in the 2nd quarter. AQR Capital Management LLC now owns 3,338,964 shares of the financial services provider’s stock valued at $622,450,000 after purchasing an additional 1,917,530 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in The PNC Financial Services Group by 50.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,485,320 shares of the financial services provider’s stock valued at $700,305,000 after purchasing an additional 1,162,964 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PNC shares. Royal Bank Of Canada upped their price target on The PNC Financial Services Group from $222.00 to $235.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Wells Fargo & Company boosted their price objective 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. Morgan Stanley lifted their target price on The PNC Financial Services Group from $211.00 to $221.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 20th. JPMorgan Chase & Co. increased their price target on The PNC Financial Services Group from $228.50 to $251.00 and gave the company an “overweight” rating in a report on Monday, February 9th. 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 research note on Tuesday, January 20th. Fifteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and a consensus target price of $234.44.

About The PNC Financial Services Group

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.