The PNC Financial Services Group, Inc. (NYSE:PNC) Sees Significant Decrease in Short Interest

The PNC Financial Services Group, Inc. (NYSE:PNC) saw a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 4,170,000 shares, a decline of 16.8% from the February 13th total of 5,010,000 shares. Approximately 1.1% of the shares of the company are short sold. Based on an average trading volume of 2,050,000 shares, the days-to-cover ratio is presently 2.0 days.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, December 27th. The shares were sold at an average price of $193.62, for a total transaction of $240,476.04. Following the sale, the chief executive officer now owns 528,797 shares in the company, valued at approximately $102,385,675.14. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 13,662 shares of company stock worth $2,604,263. 0.42% of the stock is currently owned by insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PNC. Principal Financial Group Inc. raised its stake in The PNC Financial Services Group by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock worth $420,621,000 after acquiring an additional 22,271 shares in the last quarter. Claro Advisors LLC purchased a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at about $380,000. Thrivent Financial for Lutherans boosted its position in shares of The PNC Financial Services Group by 12.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 37,096 shares of the financial services provider’s stock valued at $6,857,000 after purchasing an additional 4,186 shares during the period. Aljian Capital Management LLC purchased a new position in The PNC Financial Services Group during the 3rd quarter worth approximately $839,000. Finally, Holistic Financial Partners grew its stake in The PNC Financial Services Group by 3.2% during the 3rd quarter. Holistic Financial Partners now owns 2,324 shares of the financial services provider’s stock worth $430,000 after buying an additional 73 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PNC has been the subject of several research reports. Barclays boosted their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Citigroup raised their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Morgan Stanley increased their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a report on Friday, January 17th. The Goldman Sachs Group lowered their target price on The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Compass Point lifted their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $203.71.

The PNC Financial Services Group Stock Up 0.6 %

Shares of NYSE PNC traded up $1.08 during mid-day trading on Thursday, hitting $174.91. The company had a trading volume of 549,833 shares, compared to its average volume of 2,202,566. The business’s 50-day simple moving average is $190.77 and its 200 day simple moving average is $192.43. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $69.22 billion, a PE ratio of 12.71, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The PNC Financial Services Group has a 1-year low of $143.52 and a 1-year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.51. The business had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.16 EPS. On average, analysts predict that The PNC Financial Services Group will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.66%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

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.