The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Community Bank N.A.

Community Bank N.A. cut its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,630 shares of the financial services provider’s stock after selling 100 shares during the period. Community Bank N.A.’s holdings in The PNC Financial Services Group were worth $2,243,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of PNC. Principal Financial Group Inc. grew its position in shares of The PNC Financial Services Group by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock valued at $420,621,000 after acquiring an additional 22,271 shares during the period. Thrivent Financial for Lutherans grew its position in shares of The PNC Financial Services Group by 12.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 37,096 shares of the financial services provider’s stock valued at $6,857,000 after acquiring an additional 4,186 shares during the period. LPL Financial LLC lifted its stake in The PNC Financial Services Group by 5.2% in the 3rd quarter. LPL Financial LLC now owns 628,897 shares of the financial services provider’s stock valued at $116,252,000 after buying an additional 31,318 shares in the last quarter. GM Advisory Group LLC purchased a new position in The PNC Financial Services Group in the 3rd quarter valued at about $232,000. Finally, Meridian Wealth Management LLC purchased a new position in The PNC Financial Services Group in the 3rd quarter valued at about $1,071,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $193.62, for a total transaction of $240,476.04. Following the transaction, the chief executive officer now directly owns 528,797 shares in the company, valued at $102,385,675.14. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 12,420 shares of company stock worth $2,369,165 over the last ninety days. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Stock Down 0.0 %

The PNC Financial Services Group stock opened at $173.35 on Friday. The PNC Financial Services Group, Inc. has a fifty-two week low of $143.52 and a fifty-two week high of $216.26. The company has a market capitalization of $68.60 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a 50 day moving average price of $190.03 and a 200 day moving average price of $192.27.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the previous year, the company earned $3.16 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 3.8% compared to the same quarter last year. Research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were paid a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.69%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.55%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Stephens reaffirmed an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Morgan Stanley raised their price target on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Compass Point raised their price target on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Citigroup raised their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, Truist Financial raised their target price on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $203.71.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.