Michael Duane Thomas Sells 1,000 Shares of The PNC Financial Services Group (NYSE:PNC) Stock

The PNC Financial Services Group, Inc (NYSE:PNC) EVP Michael Duane Thomas sold 1,000 shares of the stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total transaction of $183,570.00. Following the transaction, the executive vice president directly owned 5,802 shares of the company’s stock, valued at $1,065,073.14. This trade represents a 14.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

The PNC Financial Services Group Trading Down 0.6%

Shares of NYSE:PNC traded down $1.08 during trading on Thursday, reaching $183.08. The company’s stock had a trading volume of 831,454 shares, compared to its average volume of 2,214,443. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.06. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $216.26. The firm’s 50 day simple moving average is $194.73 and its two-hundred day simple moving average is $186.70. The stock has a market capitalization of $72.10 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 1.26 and a beta of 1.12.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, beating analysts’ consensus estimates of $4.05 by $0.30. The firm had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.82 billion. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.49 EPS. On average, research analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th were paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.7%. The ex-dividend date was Tuesday, October 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 43.93%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PNC. Truist Financial raised their target price on shares of The PNC Financial Services Group from $201.00 to $210.00 and gave the company a “hold” rating in a research note on Wednesday, September 24th. Stephens restated an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research note on Wednesday, September 10th. Evercore ISI lifted their price objective on shares of The PNC Financial Services Group from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Morgan Stanley lifted their price objective on shares of The PNC Financial Services Group from $186.00 to $206.00 and gave the stock an “underweight” rating in a research note on Monday, September 29th. Finally, Piper Sandler upgraded shares of The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $211.00 to $220.00 in a research note on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $218.47.

Hedge Funds Weigh In On The PNC Financial Services Group

A number of hedge funds have recently bought and sold shares of PNC. Brighton Jones LLC increased its stake in shares of The PNC Financial Services Group by 32.2% during the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after purchasing an additional 984 shares in the last quarter. Concurrent Investment Advisors LLC increased its stake in shares of The PNC Financial Services Group by 4.3% during the first quarter. Concurrent Investment Advisors LLC now owns 6,855 shares of the financial services provider’s stock worth $1,205,000 after purchasing an additional 284 shares in the last quarter. U.S. Capital Wealth Advisors LLC purchased a new stake in shares of The PNC Financial Services Group during the first quarter worth about $216,000. Stratos Wealth Partners LTD. increased its stake in shares of The PNC Financial Services Group by 0.9% during the first quarter. Stratos Wealth Partners LTD. now owns 46,842 shares of the financial services provider’s stock worth $8,233,000 after purchasing an additional 416 shares in the last quarter. Finally, Stratos Wealth Advisors LLC increased its stake in shares of The PNC Financial Services Group by 10.7% during the first quarter. Stratos Wealth Advisors LLC now owns 1,178 shares of the financial services provider’s stock worth $207,000 after purchasing an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Company Profile

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.