US Bancorp DE Sells 40,889 Shares of The PNC Financial Services Group, Inc $PNC

Key Points

• US Bancorp DE reduced its stake in PNC by 14.2%, selling 40,889 shares in Q4 and now owning 246,347 shares valued at about $51.42 million (≈0.06% of the company).
• PNC beat EPS expectations with $4.32 versus $3.92 while revenue rose 13.1% year‑over‑year to $6.17 billion, and the firm declared a $1.70 quarterly dividend (annualized $6.80; ~3.0% yield).
• Analysts are mostly positive—MarketBeat shows a consensus of “Moderate Buy” with an average target of $241.72 and several target upgrades—yet insiders have sold 64,186 shares (~$14.84M) in the last 90 days while institutional investors hold about 83.5% of the stock.

US Bancorp DE lowered its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 14.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 246,347 shares of the financial services provider's stock after selling 40,889 shares during the quarter. US Bancorp DE owned about 0.06% of The PNC Financial Services Group worth $51,420,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of PNC. Mirae Asset Global Investments Co. Ltd. lifted its stake in The PNC Financial Services Group by 12.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,835 shares of the financial services provider's stock worth $11,621,000 after purchasing an additional 6,572 shares during the period. Envestnet Asset Management Inc. lifted its stake in The PNC Financial Services Group by 1.2% during the third quarter. Envestnet Asset Management Inc. now owns 1,837,301 shares of the financial services provider's stock worth $369,169,000 after purchasing an additional 22,325 shares during the period. National Pension Service lifted its stake in The PNC Financial Services Group by 2.5% during the third quarter. National Pension Service now owns 1,070,589 shares of the financial services provider's stock worth $215,113,000 after purchasing an additional 26,305 shares during the period. Savant Capital LLC lifted its stake in The PNC Financial Services Group by 8.7% during the third quarter. Savant Capital LLC now owns 87,952 shares of the financial services provider's stock worth $17,672,000 after purchasing an additional 7,064 shares during the period. Finally, First Horizon Corp bought a new position in The PNC Financial Services Group during the third quarter worth about $8,360,000. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $223.25 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a market cap of $90.05 billion, a P/E ratio of 12.97, a P/E/G ratio of 0.91 and a beta of 0.96. The firm has a 50 day simple moving average of $213.91 and a 200 day simple moving average of $208.29. The PNC Financial Services Group, Inc has a fifty-two week low of $158.92 and a fifty-two week high of $243.94.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, beating analysts' consensus estimates of $3.92 by $0.40. The business had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.21 billion. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The PNC Financial Services Group's revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.51 earnings per share. Sell-side analysts predict that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th will be issued 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 3.0%. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 39.51%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PNC. Oppenheimer raised their price target on shares of The PNC Financial Services Group from $263.00 to $268.00 and gave the stock an "outperform" rating in a research note on Thursday, April 16th. Wells Fargo & Company raised their price target on shares of The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 20th. Jefferies Financial Group assumed coverage on shares of The PNC Financial Services Group in a research note on Thursday, March 26th. They set a "buy" rating and a $250.00 price target for the company. Barclays lifted their target price on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the company an "overweight" rating in a research note on Thursday, April 16th. Finally, Morgan Stanley lifted their target price on shares of The PNC Financial Services Group from $263.00 to $267.00 and gave the company an "equal weight" rating in a research note on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of "Moderate Buy" and an average target price of $241.72.

Insider Activity at The PNC Financial Services Group

In related news, EVP Richard Kevin Bynum sold 7,407 shares of the firm's stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $230.98, for a total value of $1,710,868.86. Following the completion of the sale, the executive vice president owned 1,942 shares of the company's stock, valued at $448,563.16. This trade represents a 79.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Louis Robert Cestello sold 4,279 shares of the firm's stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $234.01, for a total transaction of $1,001,328.79. Following the completion of the sale, the executive vice president directly owned 18,867 shares of the company's stock, valued at approximately $4,415,066.67. This represents a 18.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 64,186 shares of company stock worth $14,840,973. 0.38% of the stock is currently owned by company insiders.

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.

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