Commerce Bank Sells 3,799 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Commerce Bank lessened its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 6.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,521 shares of the financial services provider's stock after selling 3,799 shares during the period. Commerce Bank's holdings in The PNC Financial Services Group were worth $11,093,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Winch Advisory Services LLC acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth about $25,000. Richardson Financial Services Inc. grew its stake in shares of The PNC Financial Services Group by 2,333.3% in the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock worth $28,000 after acquiring an additional 140 shares during the last quarter. Albion Financial Group UT bought a new position in The PNC Financial Services Group during the fourth quarter worth $30,000. Rialto Wealth Management LLC acquired a new position in The PNC Financial Services Group during the 4th quarter valued at $32,000. Finally, Synergy Asset Management LLC acquired a new stake in The PNC Financial Services Group in the 4th quarter worth $32,000. Institutional investors own 83.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PNC shares. Truist Financial decreased their target price on The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating on the stock in a research report on Wednesday, April 16th. Stephens reiterated an "equal weight" rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Friday, January 17th. The Goldman Sachs Group lowered their target price on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Hsbc Global Res upgraded shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. Finally, Morgan Stanley cut their target price on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating for the company in a research note on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $200.88.

The PNC Financial Services Group Trading Up 2.0 %

NYSE PNC traded up $3.06 on Wednesday, reaching $157.51. The company had a trading volume of 3,145,512 shares, compared to its average volume of 1,995,854. The stock has a market cap of $62.33 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 1.55 and a beta of 1.04. The PNC Financial Services Group, Inc. has a 52 week low of $145.12 and a 52 week high of $216.26. The stock's 50 day moving average is $171.91 and its 200-day moving average is $188.77. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. Equities analysts predict 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be issued a dividend of $1.60 per share. The ex-dividend date is Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.06%. The PNC Financial Services Group's payout ratio is 45.20%.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $202.11, for a total value of $251,020.62. Following the completion of the sale, the chief executive officer now owns 522,587 shares in the company, valued at $105,620,058.57. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 12,460 shares of company stock worth $2,223,979 over the last three months. Corporate insiders own 0.41% 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.