The PNC Financial Services Group (NYSE:PNC) Shares Gap Down – Time to Sell?

Shares of The PNC Financial Services Group, Inc. (NYSE:PNC) gapped down prior to trading on Thursday . The stock had previously closed at $200.44, but opened at $185.50. The PNC Financial Services Group shares last traded at $192.51, with a volume of 914,827 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PNC. Citigroup raised their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research note on Wednesday, October 16th. Barclays lifted their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Wells Fargo & Company upped their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Piper Sandler lifted their price objective on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $203.29.

The PNC Financial Services Group Price Performance

The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The business’s fifty day moving average price is $201.75 and its 200-day moving average price is $186.58. The stock has a market capitalization of $77.40 billion, a price-to-earnings ratio of 16.49, a PEG ratio of 1.77 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.16 EPS. On average, research analysts forecast that The PNC Financial Services Group, Inc. will post 13.47 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be issued a dividend of $1.60 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.28%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 54.10%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $190.57, for a total value of $236,687.94. Following the completion of the sale, the chief executive officer now owns 546,007 shares in the company, valued at $104,052,553.99. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the transaction, the director now owns 38,649 shares in the company, valued at approximately $8,119,768.41. This trade represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,272 shares of company stock worth $6,164,890. Corporate insiders own 0.42% of the company’s stock.

Institutional Trading of The PNC Financial Services Group

Institutional investors and hedge funds have recently modified their holdings of the business. Winch Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $25,000. Valley Wealth Managers Inc. grew its position in The PNC Financial Services Group by 20,000.0% during the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after buying an additional 200 shares during the period. Quarry LP increased its holdings in The PNC Financial Services Group by 141.7% during the second quarter. Quarry LP now owns 290 shares of the financial services provider’s stock worth $45,000 after buying an additional 170 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in The PNC Financial Services Group in the third quarter worth about $51,000. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its stake in The PNC Financial Services Group by 231.6% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 220 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

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.