The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Comerica Bank

Comerica Bank trimmed its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 115,439 shares of the financial services provider's stock after selling 2,791 shares during the quarter. Comerica Bank's holdings in The PNC Financial Services Group were worth $22,262,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Winch Advisory Services LLC bought a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $25,000. Richardson Financial Services Inc. lifted its stake in shares of The PNC Financial Services Group by 2,333.3% during the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock worth $28,000 after acquiring an additional 140 shares during the last quarter. Albion Financial Group UT bought a new position in The PNC Financial Services Group in the 4th quarter valued at $30,000. Synergy Asset Management LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at $32,000. Finally, Rialto Wealth Management LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth about $32,000. Institutional investors own 83.53% of the company's stock.

Insider Buying and Selling

In related news, Director Martin Pfinsgraff acquired 1,000 shares of The PNC Financial Services Group stock in a transaction on Friday, April 25th. The stock was acquired at an average price of $158.22 per share, for a total transaction of $158,220.00. Following the purchase, the director now owns 2,009 shares of the company's stock, valued at approximately $317,863.98. This represents a 99.11 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $192.45, for a total value of $239,022.90. Following the completion of the sale, the chief executive officer now owns 571,025 shares in the company, valued at $109,893,761.25. The trade was a 0.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,420 shares of company stock worth $2,119,361. 0.41% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. HSBC upgraded shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and dropped their target price for the stock from $206.00 to $202.00 in a research note on Monday, March 31st. Truist Financial lowered their target price on The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating for the company in a report on Wednesday, April 16th. Barclays cut their price target on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Morgan Stanley dropped their price objective on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating for the company in a research note on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $200.88.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC traded up $4.55 during midday trading on Friday, reaching $165.54. The company had a trading volume of 1,764,781 shares, compared to its average volume of 2,009,884. The stock has a market cap of $65.51 billion, a P/E ratio of 12.04, a P/E/G ratio of 1.55 and a beta of 1.06. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a 1 year low of $145.12 and a 1 year high of $216.26. The business's 50-day simple moving average is $166.95 and its 200 day simple moving average is $187.35.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.47 by $0.04. The company had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. On average, analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be given a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.87%. The PNC Financial Services Group's dividend payout ratio is currently 45.20%.

The PNC Financial Services Group 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.