The PNC Financial Services Group (NYSE:PNC) EVP Sells 1,500 Shares

The PNC Financial Services Group, Inc (NYSE:PNC) EVP Michael Duane Thomas sold 1,500 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $238.14, for a total transaction of $357,210.00. Following the sale, the executive vice president directly owned 5,059 shares of the company’s stock, valued at $1,204,750.26. This represents a 22.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

The PNC Financial Services Group Stock Up 1.6%

Shares of PNC traded up $3.78 during mid-day trading on Tuesday, hitting $234.34. The company’s stock had a trading volume of 990,833 shares, compared to its average volume of 2,419,258. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The company’s 50-day moving average is $221.21 and its 200-day moving average is $216.56. The PNC Financial Services Group, Inc has a 52-week low of $172.88 and a 52-week high of $243.94. The firm has a market capitalization of $94.10 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 0.99 and a beta of 0.92.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The company had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.21 billion. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The PNC Financial Services Group’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.51 earnings per share. On average, equities research analysts forecast that The PNC Financial Services Group, Inc will post 18.93 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, April 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 39.51%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PNC shares. Keefe, Bruyette & Woods upped their target price on The PNC Financial Services Group from $247.00 to $253.00 and gave the company a “market perform” rating in a research report on Thursday, April 16th. JPMorgan Chase & Co. lifted their price target on The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Royal Bank Of Canada reiterated an “outperform” rating and set a $235.00 price target on shares of The PNC Financial Services Group in a research note on Wednesday, April 15th. Morgan Stanley increased their price objective on The PNC Financial Services Group from $263.00 to $267.00 and gave the company an “equal weight” rating in a report on Thursday, April 16th. Finally, Jefferies Financial Group started coverage on The PNC Financial Services Group in a report on Thursday, March 26th. They set a “buy” rating and a $250.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $246.72.

Institutional Investors Weigh In On The PNC Financial Services Group

Several hedge funds and other institutional investors have recently bought and sold shares of PNC. Brighton Jones LLC lifted its position in The PNC Financial Services Group by 32.2% in the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock valued at $779,000 after buying an additional 984 shares during the last quarter. Empowered Funds LLC lifted its holdings in The PNC Financial Services Group by 2.1% during the 1st quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock worth $1,452,000 after buying an additional 170 shares in the last quarter. Sivia Capital Partners LLC boosted its position in The PNC Financial Services Group by 50.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider’s stock valued at $807,000 after buying an additional 1,449 shares during the period. Treasurer of the State of North Carolina boosted its position in The PNC Financial Services Group by 1.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 184,579 shares of the financial services provider’s stock valued at $34,409,000 after buying an additional 2,808 shares during the period. Finally, Diversify Advisory Services LLC acquired a new position in shares of The PNC Financial Services Group in the second quarter worth $482,000. 83.53% of the stock is currently 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.