Stock Yards Bank & Trust Co. Decreases Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Stock Yards Bank & Trust Co. reduced its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.0% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 48,053 shares of the financial services provider’s stock after selling 1,493 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in The PNC Financial Services Group were worth $9,267,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Winch Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter worth approximately $25,000. Richardson Financial Services Inc. grew its holdings in 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 purchasing an additional 140 shares during the period. Albion Financial Group UT purchased a new stake in The PNC Financial Services Group in the fourth quarter worth $30,000. Synergy Asset Management LLC bought a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at $32,000. Finally, Valley Wealth Managers Inc. lifted its position in shares of The PNC Financial Services Group by 20,000.0% during the 3rd 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 last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PNC. The Goldman Sachs Group boosted their price objective on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Truist Financial boosted their price target on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research report on Friday, January 17th. Keefe, Bruyette & Woods lifted their price objective on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research note on Wednesday, October 16th. Evercore ISI increased their target price on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Stephens reiterated an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and an average target price of $205.00.

The PNC Financial Services Group Price Performance

PNC stock opened at $200.63 on Monday. The firm has a 50 day simple moving average of $199.85 and a two-hundred day simple moving average of $189.75. The stock has a market cap of $79.60 billion, a PE ratio of 14.59, a P/E/G ratio of 1.63 and a beta of 1.16. The PNC Financial Services Group, Inc. has a one year low of $139.69 and a one year high of $216.26. 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 PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same period in the previous year, the business earned $3.16 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, analysts predict that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares in the company, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $208.12, for a total transaction of $258,485.04. Following the completion of the transaction, the chief executive officer now owns 536,249 shares in the company, valued at $111,604,141.88. This represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,171 shares of company stock valued at $5,786,210 over the last three months. Insiders own 0.42% of the company’s stock.

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.