The PNC Financial Services Group (NYSE:PNC) EVP Sells 3,354 Shares

The PNC Financial Services Group, Inc (NYSE:PNC) EVP Stacy Juchno sold 3,354 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $255.84, for a total value of $858,087.36. Following the completion of the sale, the executive vice president directly owned 18,800 shares in the company, valued at approximately $4,809,792. The trade was a 15.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock traded up $1.64 during mid-day trading on Friday, hitting $256.84. 104,782 shares of the company were exchanged, compared to its average volume of 2,309,743. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.85 and a quick ratio of 0.84. The business’s 50 day simple moving average is $246.16 and its two-hundred day simple moving average is $228.25. The company has a market capitalization of $102.46 billion, a P/E ratio of 14.13, a PEG ratio of 1.01 and a beta of 0.91. The PNC Financial Services Group, Inc has a 12-month low of $176.88 and a 12-month high of $258.13.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.46 by $0.39. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The business had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.51 billion. During the same period in the prior year, the business earned $3.85 earnings per share. The business’s revenue was up 21.4% on a year-over-year basis. Analysts forecast that The PNC Financial Services Group, Inc will post 19.25 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 5th. Investors of record on Monday, July 20th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 3.1%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The ex-dividend date was Monday, July 20th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 44.03%.

Analysts Set New Price Targets

Several brokerages have issued reports on PNC. Deutsche Bank Aktiengesellschaft cut The PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $265.00 price objective on the stock. in a research note on Thursday, July 23rd. UBS Group raised their price objective on The PNC Financial Services Group from $263.00 to $288.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Robert W. Baird boosted their target price on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Stephens raised their price target on shares of The PNC Financial Services Group from $265.00 to $275.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Finally, Argus boosted their price objective on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $265.73.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Monetary Solutions Ltd bought a new stake in The PNC Financial Services Group during the fourth quarter worth approximately $25,000. Quarry LP acquired a new position in The PNC Financial Services Group in the 3rd quarter valued at approximately $25,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in The PNC Financial Services Group in the 2nd quarter worth approximately $28,000. Modus Advisors LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $29,000. Finally, Financial Life Planners purchased a new position in The PNC Financial Services Group in the first quarter valued at about $31,000. 83.53% of the stock is owned by institutional investors and hedge funds.

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.