Community Bank N.A. Sells 100 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Community Bank N.A. decreased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,630 shares of the financial services provider’s stock after selling 100 shares during the quarter. Community Bank N.A.’s holdings in The PNC Financial Services Group were worth $2,243,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Winch Advisory Services LLC bought a new position in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. grew its stake in shares of The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after buying an additional 140 shares during the last quarter. Albion Financial Group UT bought a new position in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $30,000. Rialto Wealth Management LLC bought a new position in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $32,000. Finally, Synergy Asset Management LLC bought a new position in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $32,000. Institutional investors own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

PNC has been the subject of a number of research reports. The Goldman Sachs Group lowered their price target on The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating for the company in a report on Wednesday. Stephens reiterated an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a report on Friday, January 17th. Truist Financial boosted their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a report on Friday, January 17th. Barclays boosted their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Piper Sandler upped their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $203.71.

The PNC Financial Services Group Price Performance

NYSE PNC opened at $173.35 on Friday. 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 stock’s fifty day moving average price is $190.03 and its 200 day moving average price is $192.27. The PNC Financial Services Group, Inc. has a 1 year low of $143.52 and a 1 year high of $216.26. The company has a market cap of $68.60 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the prior year, the firm earned $3.16 EPS. The firm’s revenue was up 3.8% on a year-over-year basis. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.69%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is 46.55%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $192.15, for a total transaction of $238,650.30. Following the sale, the chief executive officer now directly owns 527,555 shares of the company’s stock, valued at approximately $101,369,693.25. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 12,420 shares of company stock valued at $2,369,165. Company insiders own 0.42% of the company’s stock.

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.