PNC Financial Services Group, Inc. (The) (PNC) Insider Sells $641,550.00 in Stock

PNC Financial Services Group, Inc. (The) (NYSE:PNC) insider Wyk Steven C. Van sold 5,000 shares of the company’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $128.31, for a total value of $641,550.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Shares of PNC Financial Services Group, Inc. (PNC) traded up 1.29% during trading on Tuesday, hitting $132.80. 578,700 shares of the stock were exchanged. The firm has a 50 day moving average price of $125.42 and a 200 day moving average price of $122.60. PNC Financial Services Group, Inc. has a 52 week low of $82.17 and a 52 week high of $133.26. The firm has a market capitalization of $63.74 billion, a P/E ratio of 16.90 and a beta of 0.93.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last issued its quarterly earnings results on Friday, July 14th. The financial services provider reported $2.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.08. PNC Financial Services Group, Inc. (The) had a net margin of 24.50% and a return on equity of 9.17%. The firm had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter in the previous year, the company earned $1.82 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. Analysts forecast that PNC Financial Services Group, Inc. will post $8.38 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, August 7th. Shareholders of record on Monday, July 17th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend was Thursday, July 13th. This is a positive change from PNC Financial Services Group, Inc. (The)’s previous quarterly dividend of $0.55. PNC Financial Services Group, Inc. (The)’s payout ratio is 38.12%.

PNC Financial Services Group, Inc. (The) declared that its board has authorized a stock buyback plan on Wednesday, June 28th that authorizes the company to buyback $2.70 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

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Institutional investors have recently bought and sold shares of the stock. Proficio Capital Partners LLC increased its stake in PNC Financial Services Group, Inc. (The) by 1,365.4% in the second quarter. Proficio Capital Partners LLC now owns 762 shares of the financial services provider’s stock valued at $100,000 after buying an additional 710 shares during the period. First Interstate Bank increased its stake in PNC Financial Services Group, Inc. (The) by 34.0% in the first quarter. First Interstate Bank now owns 957 shares of the financial services provider’s stock valued at $115,000 after buying an additional 243 shares during the period. Ledyard National Bank increased its stake in shares of PNC Financial Services Group, Inc. (The) by 532.1% in the first quarter. Ledyard National Bank now owns 1,182 shares of the financial services provider’s stock worth $142,000 after buying an additional 995 shares during the last quarter. Pinnacle Bank purchased a new stake in shares of PNC Financial Services Group, Inc. (The) during the first quarter worth about $157,000. Finally, Quadrant Capital Group LLC increased its stake in shares of PNC Financial Services Group, Inc. (The) by 2.8% in the first quarter. Quadrant Capital Group LLC now owns 1,413 shares of the financial services provider’s stock worth $162,000 after buying an additional 39 shares during the last quarter. Institutional investors own 81.49% of the company’s stock.

A number of equities research analysts recently weighed in on the company. BidaskClub upgraded PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Zacks Investment Research cut PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Deutsche Bank AG reissued a “buy” rating and issued a $130.00 price objective (up from $120.00) on shares of PNC Financial Services Group, Inc. (The) in a report on Tuesday, July 25th. Morgan Stanley reissued an “equal weight” rating and issued a $127.00 price objective (up from $121.00) on shares of PNC Financial Services Group, Inc. (The) in a report on Monday, July 17th. Finally, Nomura raised their price objective on PNC Financial Services Group, Inc. (The) from $126.00 to $129.00 and gave the company a “neutral” rating in a report on Monday, July 17th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $122.75.

About PNC Financial Services Group, Inc. (The)

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

Insider Buying and Selling by Quarter for PNC Financial Services Group, Inc. (The) (NYSE:PNC)

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