Key Points
- Insider sale: EVP Alexander Overstrom sold 2,500 PNC shares on Feb. 18 at an average of $233.91 for $584,775, cutting his holding by 10.58% to 21,120 shares (~$4.94M).
- Earnings beat and growth: PNC reported Q4 EPS of $4.88 vs. $4.23 expected and revenue of $6.07B (up 9.1% YoY), with a market cap of ~$91.3B and a PE of about 14.0.
- Dividend & analyst stance: PNC pays a $1.70 quarterly dividend (annualized $6.80, 2.9% yield) and holds a consensus "Moderate Buy" from analysts with an average price target near $234.
The PNC Financial Services Group, Inc (NYSE:PNC - Get Free Report) EVP Alexander 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 transaction of $584,775.00. Following the sale, the executive vice president directly owned 21,120 shares of the company's stock, valued at approximately $4,940,179.20. The trade was a 10.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
The PNC Financial Services Group Trading Up 0.7%
NYSE PNC opened at $232.80 on Thursday. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $243.94. The company has a 50 day moving average price of $220.58 and a 200 day moving average price of $202.80. 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 firm has a market cap of $91.30 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 0.96 and a beta of 0.99.
The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.23 by $0.65. The business had revenue of $6.07 billion for the quarter, compared to the consensus estimate 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 in the prior year, the firm posted $3.77 earnings per share. As a group, sell-side analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS 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. Stockholders of record on Tuesday, January 20th were issued a dividend of $1.70 per share. The ex-dividend date was Tuesday, January 20th. This represents a $6.80 annualized dividend and a dividend yield of 2.9%. The PNC Financial Services Group's dividend payout ratio is 40.99%.
Institutional Investors Weigh In On The PNC Financial Services Group
A number of hedge funds and other institutional investors have recently made changes to their positions in PNC. Cvfg LLC increased its position in shares of The PNC Financial Services Group by 2.5% during the fourth quarter. Cvfg LLC now owns 1,753 shares of the financial services provider's stock worth $366,000 after purchasing an additional 43 shares in the last quarter. YANKCOM Partnership boosted its stake in The PNC Financial Services Group by 1.8% during the 4th quarter. YANKCOM Partnership now owns 2,583 shares of the financial services provider's stock worth $539,000 after purchasing an additional 46 shares during the last quarter. Westfuller Advisors LLC grew its holdings in shares of The PNC Financial Services Group by 26.9% during the fourth quarter. Westfuller Advisors LLC now owns 217 shares of the financial services provider's stock worth $45,000 after buying an additional 46 shares in the last quarter. Atom Investors LP raised its position in shares of The PNC Financial Services Group by 1.8% in the fourth quarter. Atom Investors LP now owns 2,534 shares of the financial services provider's stock valued at $529,000 after buying an additional 46 shares during the last quarter. Finally, Flavin Financial Services Inc. lifted its stake in shares of The PNC Financial Services Group by 0.4% in the fourth quarter. Flavin Financial Services Inc. now owns 13,641 shares of the financial services provider's stock worth $2,847,000 after buying an additional 48 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on the stock. TD Cowen lifted their price objective on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a "buy" rating in a research note on Tuesday, January 20th. Truist Financial boosted their price target on The PNC Financial Services Group from $210.00 to $229.00 and gave the company a "hold" rating in a research note on Thursday, December 18th. Weiss Ratings reissued a "buy (b)" rating on shares of The PNC Financial Services Group in a report on Monday, December 22nd. Royal Bank Of Canada lifted their target price 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. Finally, Wells Fargo & Company increased their price target 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. Fifteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, The PNC Financial Services Group currently has an average rating of "Moderate Buy" and an average price target of $234.44.
View Our Latest Stock Analysis on The PNC Financial Services Group
About The PNC Financial Services Group
(
Get Free Report)
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.
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