Key Points
- PNC director Andrew Feldstein sold 45,000 shares on May 26 at an average price of $220.57, generating about $9.93 million. After the sale, he held 10,749 shares, an ownership drop of 80.72%.
- PNC recently beat earnings expectations, reporting $4.32 EPS versus analyst estimates of $3.92. Quarterly revenue rose 13.1% year over year to $6.17 billion.
- The company continues to pay a solid dividend, with a quarterly payout of $1.70 per share, or $6.80 annualized, for a yield of about 3.1%. Its payout ratio is 39.51%.
The PNC Financial Services Group, Inc (NYSE:PNC - Get Free Report) Director Andrew Feldstein sold 45,000 shares of the firm's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total value of $9,925,650.00. Following the completion of the transaction, the director directly owned 10,749 shares of the company's stock, valued at $2,370,906.93. The trade was a 80.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
The PNC Financial Services Group Price Performance
The PNC Financial Services Group stock opened at $219.94 on Friday. The PNC Financial Services Group, Inc has a one year low of $170.49 and a one year high of $243.94. The business has a fifty day moving average price of $215.86 and a 200-day moving average price of $212.99. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a market capitalization of $88.32 billion, a P/E ratio of 12.78, a PEG ratio of 0.92 and a beta of 0.94.
The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings results 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 PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The firm had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.21 billion. During the same period last year, the company earned $3.51 earnings per share. The business's revenue for the quarter was up 13.1% on a year-over-year basis. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc will post 18.93 EPS for the current year.
The PNC Financial Services Group Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.1%. The ex-dividend date was Tuesday, April 14th. The PNC Financial Services Group's payout ratio is presently 39.51%.
Institutional Investors Weigh In On The PNC Financial Services Group
A number of large investors have recently added to or reduced their stakes in PNC. Monetary Solutions Ltd purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at about $25,000. Quarry LP purchased a new stake in The PNC Financial Services Group during the third quarter valued at about $25,000. Modus Advisors LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at about $29,000. Financial Life Planners purchased a new stake in The PNC Financial Services Group during the first quarter valued at about $31,000. Finally, Wilkerson Advisory Group LLC raised its position in The PNC Financial Services Group by 93.4% during the first quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have weighed in on PNC shares. Oppenheimer upped their target price on The PNC Financial Services Group from $263.00 to $268.00 and gave the stock an "outperform" rating in a research note on Thursday, April 16th. Jefferies Financial Group started coverage on The PNC Financial Services Group in a research note on Thursday, March 26th. They issued a "buy" rating and a $250.00 target price on the stock. Citigroup upped their target price on The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a "buy" rating in a research note on Friday, May 8th. Truist Financial upped their target price on The PNC Financial Services Group from $234.00 to $245.00 and gave the stock a "hold" rating in a research note on Thursday, April 16th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of The PNC Financial Services Group in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $243.11.
View Our Latest Analysis on The PNC Financial Services Group
The PNC Financial Services Group Company Profile
(
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
