Czech National Bank boosted its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC – Free Report) by 3.9% during the second quarter, Holdings Channel.com reports. The firm owned 114,301 shares of the financial services provider’s stock after acquiring an additional 4,301 shares during the period. Czech National Bank’s holdings in The PNC Financial Services Group were worth $28,143,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Monetary Solutions Ltd bought a new stake in The PNC Financial Services Group in the fourth quarter worth $25,000. Quarry LP bought a new position in The PNC Financial Services Group during the third quarter valued at $25,000. Modus Advisors LLC purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at $29,000. Financial Life Planners purchased a new stake in shares of The PNC Financial Services Group in the first quarter valued at $31,000. Finally, Wilkerson Advisory Group LLC lifted its holdings in shares of The PNC Financial Services Group by 93.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 71 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.
Insider Transactions at The PNC Financial Services Group
In other news, Director Andrew T. Feldstein sold 45,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the transaction, the director directly owned 10,749 shares in the company, valued at approximately $2,370,906.93. This trade represents a 80.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Duane Thomas sold 1,500 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $238.14, for a total transaction of $357,210.00. Following the transaction, the executive vice president directly owned 5,059 shares in the company, valued at approximately $1,204,750.26. The trade was a 22.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 48,300 shares of company stock valued at $10,694,574. Company insiders own 0.38% of the company’s stock.
Wall Street Analysts Forecast Growth
Check Out Our Latest Stock Report on PNC
The PNC Financial Services Group Stock Performance
Shares of The PNC Financial Services Group stock opened at $252.24 on Friday. The firm has a market cap of $100.63 billion, a P/E ratio of 13.88, a P/E/G ratio of 1.00 and a beta of 0.91. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.34. The PNC Financial Services Group, Inc has a 12 month low of $176.88 and a 12 month high of $258.13. The stock’s fifty day moving average price is $243.50 and its 200-day moving average price is $227.32.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last released its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share for the quarter, topping analysts’ consensus estimates of $4.46 by $0.39. The PNC Financial Services Group had a net margin of 21.41% and a return on equity of 12.48%. The company had revenue of $6.88 billion during the quarter, compared to analyst estimates of $6.51 billion. During the same period in the prior year, the firm earned $3.85 earnings per share. The firm’s revenue for the quarter was up 21.4% compared to the same quarter last year. On average, equities research analysts expect that The PNC Financial Services Group, Inc will post 19.25 earnings per share for the current fiscal year.
The PNC Financial Services Group Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th were given a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Monday, July 20th. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The PNC Financial Services Group’s dividend payout ratio is currently 44.03%.
The PNC Financial Services Group Profile
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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