The PNC Financial Services Group, Inc $PNC Shares Sold by Sageworth Trust Co

Sageworth Trust Co cut its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 41.0% during the 1st quarter, HoldingsChannel reports. The firm owned 3,718 shares of the financial services provider’s stock after selling 2,585 shares during the quarter. Sageworth Trust Co’s holdings in The PNC Financial Services Group were worth $774,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PNC. Monetary Solutions Ltd acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $25,000. Quarry LP acquired a new position in shares of The PNC Financial Services Group during the third quarter worth approximately $25,000. Modus Advisors LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth approximately $29,000. Financial Life Planners bought a new position in The PNC Financial Services Group in the 1st quarter worth approximately $31,000. Finally, Kemnay Advisory Services Inc. acquired a new position in The PNC Financial Services Group during the 4th quarter worth $32,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Michael Duane Thomas sold 1,500 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $238.14, for a total value of $357,210.00. Following the transaction, the executive vice president owned 5,059 shares of the company’s stock, valued at $1,204,750.26. The trade was a 22.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Stephanie Novosel sold 1,800 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $228.73, for a total transaction of $411,714.00. Following the completion of the sale, the executive vice president owned 3,107 shares in the company, valued at $710,664.11. The trade was a 36.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 48,300 shares of company stock valued at $10,694,574 in the last quarter. Insiders own 0.38% of the company’s stock.

The PNC Financial Services Group News Roundup

Here are the key news stories impacting The PNC Financial Services Group this week:

• Positive Sentiment: PNC boosted its quarterly dividend by about 17.6%-18%, signaling strong capital levels and management confidence in future cash generation. The increase should appeal to income investors and may be helping the stock. Article Title
• Positive Sentiment: UBS raised its price target on PNC and reiterated a buy rating, pointing to upside potential versus the recent trading level. That kind of analyst support can lift sentiment ahead of earnings. Article Title
• Positive Sentiment: PNC launched a new mobile banking app, which could improve customer experience and help strengthen digital engagement over time. Article Title
• Positive Sentiment: PNC is being discussed as part of a possible bank-led effort to buy Fiserv’s STAR debit network, a move that could reduce payment-processing costs and create a new revenue opportunity for large banks if it advances. Article Title
• Neutral Sentiment: Wall Street expects PNC to report earnings growth in its July 15 Q2 results, but some commentary says the setup does not strongly favor a clear earnings beat. Investors are likely waiting for the report before making bigger moves. Article Title

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PNC shares. Royal Bank Of Canada restated an “outperform” rating and set a $235.00 price objective on shares of The PNC Financial Services Group in a research note on Wednesday, April 15th. Truist Financial raised their target price on shares of The PNC Financial Services Group from $245.00 to $257.00 and gave the company a “hold” rating in a research note on Friday, June 26th. Citigroup boosted their price target on shares of The PNC Financial Services Group from $255.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, June 30th. Bank of America upped their price target on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the company a “market perform” rating in a report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group currently has an average rating of “Moderate Buy” and an average target price of $258.09.

The PNC Financial Services Group Trading Down 2.9%

Shares of The PNC Financial Services Group stock opened at $246.58 on Thursday. The business has a fifty day simple moving average of $228.64 and a 200-day simple moving average of $221.56. The PNC Financial Services Group, Inc has a fifty-two week low of $176.88 and a fifty-two week high of $256.00. The firm has a market cap of $99.02 billion, a price-to-earnings ratio of 14.33, a price-to-earnings-growth ratio of 1.04 and a beta of 0.91. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The firm had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same period in the previous year, the company earned $3.51 earnings per share. The PNC Financial Services Group’s revenue was up 13.1% compared to the same quarter last year. On average, equities analysts forecast that The PNC Financial Services Group, Inc will post 18.83 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th will be given a dividend of $2.00 per share. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The ex-dividend date is Monday, July 20th. This represents a $8.00 annualized dividend and a dividend yield of 3.2%. The PNC Financial Services Group’s payout ratio is 39.51%.

About The PNC Financial Services Group

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.