First Foundation Advisors Sells 260 Shares of The PNC Financial Services Group, Inc (NYSE:PNC)

First Foundation Advisors trimmed its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 14.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,561 shares of the financial services provider’s stock after selling 260 shares during the period. First Foundation Advisors’ holdings in The PNC Financial Services Group were worth $274,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Cornerstone Planning Group LLC lifted its stake in shares of The PNC Financial Services Group by 50.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 65 shares during the last quarter. REAP Financial Group LLC lifted its stake in shares of 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 during the last quarter. Hoey Investments Inc. bought a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $39,000. True Wealth Design LLC lifted its stake in shares of The PNC Financial Services Group by 41.5% in the 4th quarter. True Wealth Design LLC now owns 201 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 59 shares during the last quarter. Finally, Opal Wealth Advisors LLC bought a new position in shares of The PNC Financial Services Group in the 1st quarter valued at $35,000. 83.53% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $169.75, for a total value of $210,829.50. Following the transaction, the chief executive officer owned 554,879 shares of the company’s stock, valued at approximately $94,190,710.25. This trade represents a 0.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kieran John Fallon sold 1,492 shares of the firm’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $174.56, for a total transaction of $260,443.52. Following the completion of the transaction, the executive vice president directly owned 20,490 shares in the company, valued at approximately $3,576,734.40. The trade was a 6.79% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,460 shares of company stock worth $1,103,563. 0.41% of the stock is owned by insiders.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $193.41 on Wednesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a 50-day moving average of $184.89 and a 200-day moving average of $180.31. The company has a market cap of $76.51 billion, a PE ratio of 13.23, a P/E/G ratio of 1.45 and a beta of 1.07. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share for the quarter, beating the consensus estimate of $3.56 by $0.29. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The business had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $5.61 billion. During the same quarter last year, the firm earned $3.39 EPS. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, equities 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th will be given a $1.70 dividend. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.60. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.80 annualized dividend and a yield of 3.52%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.51%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PNC shares. Wolfe Research restated a “peer perform” rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. Raymond James Financial upgraded The PNC Financial Services Group from a “market perform” rating to an “outperform” rating and set a $220.00 price objective for the company in a report on Tuesday, July 8th. Citigroup increased their price objective on The PNC Financial Services Group from $205.00 to $217.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Truist Financial increased their price target on The PNC Financial Services Group from $189.00 to $198.00 and gave the stock a “hold” rating in a report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. decreased their price target on The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating for the company in a report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $212.76.

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.