Emprise Bank Sells 156 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Emprise Bank lessened its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.3% during the fourth quarter, Holdings Channel reports. The fund owned 3,464 shares of the financial services provider’s stock after selling 156 shares during the period. Emprise Bank’s holdings in The PNC Financial Services Group were worth $668,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. State Street Corp raised its stake in The PNC Financial Services Group by 0.6% in the 3rd quarter. State Street Corp now owns 17,299,381 shares of the financial services provider’s stock valued at $3,197,791,000 after acquiring an additional 100,573 shares during the period. Franklin Resources Inc. increased its position in The PNC Financial Services Group by 1.2% during the third quarter. Franklin Resources Inc. now owns 10,286,202 shares of the financial services provider’s stock worth $1,939,154,000 after acquiring an additional 123,994 shares during the period. Geode Capital Management LLC raised its stake in The PNC Financial Services Group by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider’s stock worth $1,541,155,000 after purchasing an additional 166,138 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in The PNC Financial Services Group by 0.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider’s stock valued at $746,772,000 after purchasing an additional 18,397 shares during the period. Finally, Legal & General Group Plc increased its holdings in shares of The PNC Financial Services Group by 6.8% during the second quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock worth $544,335,000 after purchasing an additional 223,955 shares during the period. Institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $216.01, for a total transaction of $268,284.42. Following the transaction, the chief executive officer now owns 533,765 shares of the company’s stock, valued at $115,298,577.65. This represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the transaction, the director now directly owns 38,649 shares in the company, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,030 shares of company stock valued at $5,925,333. 0.42% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Wells Fargo & Company boosted their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Stephens boosted their price objective on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Piper Sandler boosted their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Evercore ISI boosted their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley boosted their price objective on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $203.29.

The PNC Financial Services Group Trading Up 0.9 %

NYSE PNC traded up $1.61 on Monday, reaching $190.63. The company had a trading volume of 484,846 shares, compared to its average volume of 1,833,269. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $75.64 billion, a price-to-earnings ratio of 16.11, a P/E/G ratio of 2.11 and a beta of 1.16. The business has a 50 day moving average of $201.47 and a two-hundred day moving average of $186.01. The PNC Financial Services Group, Inc. has a fifty-two week low of $139.69 and a fifty-two week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The business had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.60 earnings per share. Analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.60 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.36%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 54.10%.

About The PNC Financial Services Group

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.