Fulton Bank N.A. Sells 627 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Fulton Bank N.A. decreased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,258 shares of the financial services provider’s stock after selling 627 shares during the period. Fulton Bank N.A.’s holdings in The PNC Financial Services Group were worth $3,912,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PNC. Richardson Financial Services Inc. raised its stake in 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 purchasing an additional 140 shares in the last quarter. Rialto Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $32,000. Whipplewood Advisors LLC acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $33,000. Financial Life Planners bought a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $37,000. Finally, REAP Financial Group LLC raised its holdings in The PNC Financial Services Group by 67.2% in the 4th quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 80 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In related news, Director Martin Pfinsgraff purchased 1,000 shares of The PNC Financial Services Group stock in a transaction on Friday, April 25th. The shares were purchased at an average price of $158.22 per share, for a total transaction of $158,220.00. Following the transaction, the director now owns 2,009 shares of the company’s stock, valued at approximately $317,863.98. This represents a 99.11% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $178.83, for a total value of $222,106.86. Following the completion of the sale, the chief executive officer now directly owns 568,541 shares of the company’s stock, valued at approximately $101,672,187.03. The trade was a 0.22% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,396 shares of company stock worth $2,747,698. 0.41% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PNC. Morgan Stanley reduced their target price on The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating on the stock in a report on Wednesday, April 16th. Wells Fargo & Company decreased their target price on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Royal Bank of Canada dropped their target price on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating for the company in a research report on Wednesday, April 16th. Truist Financial reduced their price target on shares of The PNC Financial Services Group from $208.00 to $189.00 and set a “hold” rating on the stock in a research report on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $202.67.

The PNC Financial Services Group Trading Up 0.1%

Shares of PNC stock opened at $173.93 on Tuesday. The PNC Financial Services Group, Inc. has a twelve month low of $145.12 and a twelve month high of $216.26. The stock’s fifty day simple moving average is $165.01 and its 200 day simple moving average is $184.08. 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 firm has a market capitalization of $68.80 billion, a P/E ratio of 12.65, a P/E/G ratio of 1.55 and a beta of 1.06.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.04. 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 $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. As a group, sell-side 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 firm also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group’s payout ratio is 45.20%.

The PNC Financial Services Group 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.