The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by First Business Financial Services Inc.

First Business Financial Services Inc. cut its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 10.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,341 shares of the financial services provider’s stock after selling 372 shares during the period. First Business Financial Services Inc.’s holdings in The PNC Financial Services Group were worth $644,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. raised its position in The PNC Financial Services Group by 15.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 67,361 shares of the financial services provider’s stock worth $12,452,000 after buying an additional 8,957 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in The PNC Financial Services Group during the 3rd quarter worth approximately $71,000. Catalina Capital Group LLC raised its position in The PNC Financial Services Group by 7.5% during the 3rd quarter. Catalina Capital Group LLC now owns 1,932 shares of the financial services provider’s stock worth $357,000 after buying an additional 135 shares during the last quarter. Radnor Capital Management LLC purchased a new position in The PNC Financial Services Group during the 3rd quarter worth approximately $2,555,000. Finally, Umpqua Bank raised its position in The PNC Financial Services Group by 2.9% during the 3rd quarter. Umpqua Bank now owns 11,111 shares of the financial services provider’s stock worth $2,054,000 after buying an additional 309 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, December 6th. The shares were sold at an average price of $209.24, for a total transaction of $259,876.08. Following the sale, the chief executive officer now owns 532,523 shares of the company’s stock, valued at $111,425,112.52. The trade was a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 13,662 shares of company stock valued at $2,681,664 in the last 90 days. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $180.37 on Thursday. The company’s fifty day moving average price is $194.79 and its 200 day moving average price is $192.75. The PNC Financial Services Group, Inc. has a 1 year low of $143.52 and a 1 year high of $216.26. The stock has a market capitalization of $71.38 billion, a P/E ratio of 13.12, a P/E/G ratio of 1.55 and a beta of 1.13. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter last year, the company earned $3.16 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were paid a $1.60 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.55%. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Analyst Ratings Changes

A number of equities analysts have issued reports on PNC shares. Stephens reissued an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research report on Friday, January 17th. The Goldman Sachs Group raised their price target on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Barclays lifted their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Citigroup lifted their target price on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, Piper Sandler lifted their target price on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $205.00.

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.