The PNC Financial Services Group, Inc $PNC Shares Sold by Comerica Bank

Comerica Bank reduced its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 3.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 112,778 shares of the financial services provider’s stock after selling 3,728 shares during the quarter. Comerica Bank’s holdings in The PNC Financial Services Group were worth $23,540,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. YANKCOM Partnership lifted its holdings in shares of The PNC Financial Services Group by 1.8% in the 4th quarter. YANKCOM Partnership now owns 2,583 shares of the financial services provider’s stock worth $539,000 after acquiring an additional 46 shares during the last quarter. Westfuller Advisors LLC lifted its holdings in shares of The PNC Financial Services Group by 26.9% in the 4th quarter. Westfuller Advisors LLC now owns 217 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 46 shares during the last quarter. Almanack Investment Partners LLC. lifted its holdings in shares of The PNC Financial Services Group by 2.2% in the 4th quarter. Almanack Investment Partners LLC. now owns 2,349 shares of the financial services provider’s stock worth $490,000 after acquiring an additional 50 shares during the last quarter. PUREfi Wealth LLC lifted its holdings in shares of The PNC Financial Services Group by 2.4% in the 4th quarter. PUREfi Wealth LLC now owns 2,305 shares of the financial services provider’s stock worth $481,000 after acquiring an additional 53 shares during the last quarter. Finally, Optas LLC lifted its holdings in The PNC Financial Services Group by 3.8% during the 4th quarter. Optas LLC now owns 1,445 shares of the financial services provider’s stock worth $302,000 after buying an additional 53 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 50,000 shares of the stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $230.88, for a total value of $11,544,000.00. Following the sale, the chief executive officer directly owned 554,274 shares of the company’s stock, valued at approximately $127,970,781.12. This represents a 8.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Richard Kevin Bynum sold 7,407 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $230.98, for a total transaction of $1,710,868.86. Following the completion of the sale, the executive vice president directly owned 1,942 shares in the company, valued at approximately $448,563.16. This represents a 79.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 64,186 shares of company stock valued at $14,840,973. 0.38% of the stock is currently owned by company insiders.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $221.45 on Tuesday. The PNC Financial Services Group, Inc has a 52-week low of $156.70 and a 52-week high of $243.94. The company’s 50 day moving average is $214.54 and its two-hundred day moving average is $207.85. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.00. The firm has a market cap of $89.33 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 0.91 and a beta of 0.96.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, beating analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The company had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same period in the prior year, the firm posted $3.51 EPS. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. On average, research analysts expect that The PNC Financial Services Group, Inc will post 18.93 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th will be given a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.1%. The PNC Financial Services Group’s dividend payout ratio is currently 39.51%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PNC shares. Wells Fargo & Company increased their target price on shares of The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. TD Cowen increased their target price on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Royal Bank Of Canada reiterated an “outperform” rating and set a $235.00 target price on shares of The PNC Financial Services Group in a report on Wednesday, April 15th. Keefe, Bruyette & Woods increased their target price on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a “market perform” rating in a report on Thursday, April 16th. Finally, Jefferies Financial Group started coverage on shares of The PNC Financial Services Group in a report on Thursday, March 26th. They set a “buy” rating and a $250.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $241.69.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.