The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp decreased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 209,751 shares of the financial services provider’s stock after selling 4,847 shares during the period. Peapack Gladstone Financial Corp’s holdings in The PNC Financial Services Group were worth $40,450,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of PNC. Winch Advisory Services LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at $25,000. Richardson Financial Services Inc. boosted its position in shares of The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after buying an additional 140 shares in the last quarter. Albion Financial Group UT purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter worth about $30,000. Synergy Asset Management LLC acquired a new stake in The PNC Financial Services Group in the 4th quarter valued at about $32,000. Finally, Rialto Wealth Management LLC purchased a new position in The PNC Financial Services Group during the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $152.85 on Friday. The company has a market cap of $60.49 billion, a P/E ratio of 11.12, a P/E/G ratio of 1.55 and a beta of 1.04. The firm’s 50 day moving average is $184.93 and its two-hundred day moving average is $191.73. 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 quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC) last issued its 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 return on equity of 11.12% and a net margin of 17.10%. The firm had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter last year, the firm earned $3.16 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend is Wednesday, April 16th. The PNC Financial Services Group’s payout ratio is currently 46.55%.

Wall Street Analyst Weigh In

Several analysts have recently commented on PNC shares. Truist Financial lowered their price target on shares of The PNC Financial Services Group from $216.00 to $208.00 and set a “hold” rating on the stock in a research report on Friday. Barclays increased their target price on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Compass Point boosted their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. HSBC raised The PNC Financial Services Group from a “hold” rating to a “buy” rating and decreased their price objective for the company from $206.00 to $202.00 in a research note on Monday, March 31st. Finally, Morgan Stanley boosted their target price 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. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $205.18.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $174.78, for a total transaction of $217,076.76. Following the completion of the sale, the chief executive officer now directly owns 564,815 shares in the company, valued at $98,718,365.70. The trade was a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders sold 12,420 shares of company stock valued at $2,320,739. 0.41% of the stock is currently owned by corporate insiders.

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.