Short Interest in The PNC Financial Services Group, Inc. (NYSE:PNC) Drops By 16.8%

The PNC Financial Services Group, Inc. (NYSE:PNC) was the target of a large decline in short interest in February. As of February 28th, there was short interest totalling 4,170,000 shares, a decline of 16.8% from the February 13th total of 5,010,000 shares. Based on an average daily volume of 2,050,000 shares, the short-interest ratio is presently 2.0 days. Approximately 1.1% of the company’s shares are short sold.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $193.62, for a total value of $240,476.04. Following the transaction, the chief executive officer now directly owns 528,797 shares of the company’s stock, valued at $102,385,675.14. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold 13,662 shares of company stock valued at $2,604,263 in the last three months. Corporate insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On The PNC Financial Services Group

Institutional investors have recently made changes to their positions in the company. 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. grew its stake in 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 buying an additional 140 shares during the last quarter. Albion Financial Group UT bought a new position in The PNC Financial Services Group during the 4th quarter worth $30,000. Synergy Asset Management LLC bought a new position in The PNC Financial Services Group during the 4th quarter worth $32,000. Finally, Rialto Wealth Management LLC bought a new position in The PNC Financial Services Group during the 4th quarter worth $32,000. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC traded down $0.80 during trading on Tuesday, reaching $173.20. The stock had a trading volume of 4,219,487 shares, compared to its average volume of 1,740,430. The PNC Financial Services Group has a one year low of $143.52 and a one year high of $216.26. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $68.54 billion, a PE ratio of 12.60, a P/E/G ratio of 1.55 and a beta of 1.13. The firm’s 50 day moving average price is $191.61 and its two-hundred day moving average price is $192.65.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the previous year, the business earned $3.16 EPS. The business’s quarterly revenue was up 3.8% on a year-over-year basis. On average, research analysts forecast that The PNC Financial Services Group will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued a $1.60 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.70%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.55%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PNC. Morgan Stanley lifted their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Stephens reaffirmed an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Barclays boosted their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Piper Sandler boosted their price target 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. Finally, Citigroup boosted their price target 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. Two equities 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $205.00.

The PNC Financial Services Group Company 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.