The PNC Financial Services Group (NYSE:PNC) EVP Louis Robert Cestello Sells 4,279 Shares

The PNC Financial Services Group, Inc (NYSE:PNC) EVP Louis Robert Cestello sold 4,279 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $234.01, for a total value of $1,001,328.79. Following the transaction, the executive vice president directly owned 18,867 shares in the company, valued at $4,415,066.67. This represents a 18.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $232.80 on Thursday. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $243.94. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market capitalization of $91.30 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 0.96 and a beta of 0.99. The stock’s 50-day simple moving average is $220.58 and its 200-day simple moving average is $202.80.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, topping analysts’ consensus estimates of $4.23 by $0.65. The company had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $5.90 billion. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The PNC Financial Services Group’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the business earned $3.77 EPS. As a group, equities analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share 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 of this dividend was Tuesday, January 20th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.9%. The PNC Financial Services Group’s payout ratio is 40.99%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PNC shares. Oppenheimer lifted their price target on The PNC Financial Services Group from $268.00 to $284.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. Keefe, Bruyette & Woods raised their price objective on The PNC Financial Services Group from $228.00 to $247.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 20th. JPMorgan Chase & Co. lifted their target price on The PNC Financial Services Group from $228.50 to $251.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of The PNC Financial Services Group in a report on Monday, December 22nd. Finally, Wells Fargo & Company raised 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 research report on Tuesday, January 20th. Fifteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.44.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Cvfg LLC grew its stake in shares of The PNC Financial Services Group by 2.5% during the 4th quarter. Cvfg LLC now owns 1,753 shares of the financial services provider’s stock worth $366,000 after purchasing an additional 43 shares during the period. YANKCOM Partnership boosted its holdings in The PNC Financial Services Group by 1.8% during the fourth quarter. YANKCOM Partnership now owns 2,583 shares of the financial services provider’s stock worth $539,000 after buying an additional 46 shares in the last quarter. Westfuller Advisors LLC grew its position in 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 valued at $45,000 after buying an additional 46 shares during the period. Atom Investors LP increased its holdings in 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 in the last quarter. Finally, Flavin Financial Services Inc. raised its position 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 acquiring an additional 48 shares during the period. 83.53% of the stock is owned by institutional investors and hedge funds.

About The PNC Financial Services Group

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.