Key Points
- PNC EVP Stephanie Novosel sold 1,800 shares on June 5 at an average price of $228.73, totaling about $411,714. After the sale, she held 3,107 shares, a 36.68% reduction in her position.
- PNC’s stock was down 0.6% and opened at $227.02, with the company carrying a market value of about $91.17 billion. The shares have traded between $172.73 and $243.94 over the past year.
- The bank reported solid quarterly results, posting EPS of $4.32 versus expectations of $3.92, while revenue grew 13.1% year over year. PNC also pays a quarterly dividend of $1.70 per share, or $6.80 annualized, yielding about 3.0%.
The PNC Financial Services Group, Inc (NYSE:PNC - Get Free Report) EVP Stephanie Novosel sold 1,800 shares of the business's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $228.73, for a total value of $411,714.00. Following the transaction, the executive vice president directly owned 3,107 shares in the company, valued at $710,664.11. This trade represents a 36.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
The PNC Financial Services Group Stock Down 0.6%
NYSE:PNC opened at $227.02 on Tuesday. The firm has a market capitalization of $91.17 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 0.95 and a beta of 0.92. The PNC Financial Services Group, Inc has a twelve month low of $172.73 and a twelve month high of $243.94. The stock's 50 day moving average price is $218.55 and its two-hundred day moving average price is $214.93. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05.
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 earnings per share for the quarter, topping the consensus estimate of $3.92 by $0.40. The firm had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The business's quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.51 EPS. Equities research analysts expect that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current fiscal year.
The PNC Financial Services Group Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were given a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $6.80 annualized dividend and a dividend yield of 3.0%. The PNC Financial Services Group's payout ratio is 39.51%.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the business. Pine Valley Investments Ltd Liability Co grew its holdings in The PNC Financial Services Group by 5.8% in the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 4,900 shares of the financial services provider's stock valued at $1,020,000 after buying an additional 270 shares in the last quarter. Wealthquest Corp grew its holdings in The PNC Financial Services Group by 6.8% in the 1st quarter. Wealthquest Corp now owns 1,195 shares of the financial services provider's stock valued at $249,000 after buying an additional 76 shares in the last quarter. DV Trading LLC grew its holdings in The PNC Financial Services Group by 320.0% in the 1st quarter. DV Trading LLC now owns 1,260 shares of the financial services provider's stock valued at $262,000 after buying an additional 960 shares in the last quarter. Parallel Advisors LLC grew its holdings in The PNC Financial Services Group by 2.9% in the 1st quarter. Parallel Advisors LLC now owns 3,547 shares of the financial services provider's stock valued at $738,000 after buying an additional 99 shares in the last quarter. Finally, NewEdge Advisors LLC grew its holdings in The PNC Financial Services Group by 103.6% in the 1st quarter. NewEdge Advisors LLC now owns 61,411 shares of the financial services provider's stock valued at $12,779,000 after buying an additional 31,255 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on the company. Citigroup boosted their price target on The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Barclays boosted their price target on The PNC Financial Services Group from $271.00 to $277.00 and gave the stock an "overweight" rating in a research report on Thursday, April 16th. JPMorgan Chase & Co. boosted their target price on The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Truist Financial boosted their target price on The PNC Financial Services Group from $234.00 to $245.00 and gave the stock a "hold" rating in a report on Thursday, April 16th. Finally, Bank of America boosted their target price on The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $243.11.
Get Our Latest Stock Report on PNC
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.
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