The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak Purchases 6,550 Shares of Stock

The PNC Financial Services Group, Inc. (NYSE:PNCGet Rating) CEO William S. Demchak acquired 6,550 shares of the company’s stock in a transaction on Friday, January 20th. The stock was acquired at an average price of $153.38 per share, for a total transaction of $1,004,639.00. Following the purchase, the chief executive officer now directly owns 482,924 shares of the company’s stock, valued at $74,070,883.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

The PNC Financial Services Group Trading Down 0.6 %

Shares of PNC stock opened at $158.42 on Wednesday. The stock’s fifty day moving average price is $158.85 and its two-hundred day moving average price is $159.77. The company has a market cap of $63.89 billion, a PE ratio of 11.42, a P/E/G ratio of 2.24 and a beta of 1.16. The PNC Financial Services Group, Inc. has a fifty-two week low of $143.52 and a fifty-two week high of $214.50. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.79 and a current ratio of 0.79.

The PNC Financial Services Group (NYSE:PNCGet Rating) last issued its earnings results on Wednesday, January 18th. The financial services provider reported $3.49 earnings per share for the quarter, missing analysts’ consensus estimates of $3.95 by ($0.46). The business had revenue of $5.76 billion during the quarter, compared to analyst estimates of $5.71 billion. The PNC Financial Services Group had a net margin of 25.73% and a return on equity of 12.88%. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.86 EPS. Equities analysts predict that The PNC Financial Services Group, Inc. will post 14.94 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, February 5th. Stockholders of record on Tuesday, January 17th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date is Friday, January 13th. The PNC Financial Services Group’s payout ratio is 43.26%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Citigroup upped their price objective on The PNC Financial Services Group to $180.00 in a research note on Friday, December 2nd. Deutsche Bank Aktiengesellschaft upgraded The PNC Financial Services Group from a “hold” rating to a “buy” rating and dropped their price objective for the company from $200.00 to $190.00 in a research note on Friday, January 6th. Robert W. Baird decreased their target price on The PNC Financial Services Group from $210.00 to $205.00 and set an “outperform” rating on the stock in a research report on Thursday, January 19th. UBS Group downgraded The PNC Financial Services Group from a “buy” rating to a “neutral” rating and decreased their target price for the company from $190.00 to $176.00 in a research report on Tuesday, January 10th. Finally, Odeon Capital Group raised The PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $176.27 target price on the stock in a research report on Tuesday, January 10th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $180.41.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Dorsey & Whitney Trust CO LLC lifted its stake in shares of The PNC Financial Services Group by 1.1% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 5,608 shares of the financial services provider’s stock valued at $885,000 after acquiring an additional 61 shares during the last quarter. Magnus Financial Group LLC raised its position in The PNC Financial Services Group by 2.7% during the 2nd quarter. Magnus Financial Group LLC now owns 2,319 shares of the financial services provider’s stock worth $366,000 after purchasing an additional 62 shares during the last quarter. Quadrant Capital Group LLC raised its position in The PNC Financial Services Group by 1.4% during the 3rd quarter. Quadrant Capital Group LLC now owns 4,417 shares of the financial services provider’s stock worth $660,000 after purchasing an additional 62 shares during the last quarter. Calamos Wealth Management LLC raised its position in The PNC Financial Services Group by 3.6% during the 3rd quarter. Calamos Wealth Management LLC now owns 1,820 shares of the financial services provider’s stock worth $272,000 after purchasing an additional 64 shares during the last quarter. Finally, Accurate Wealth Management LLC raised its position in The PNC Financial Services Group by 1.1% during the 2nd quarter. Accurate Wealth Management LLC now owns 6,190 shares of the financial services provider’s stock worth $1,003,000 after purchasing an additional 66 shares during the last quarter. 82.05% of the stock is currently owned by institutional investors.

About The PNC Financial Services Group

(Get Rating)

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as certificates of 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.

Featured Stories

Receive News & Ratings for The PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The PNC Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.