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

The PNC Financial Services Group, Inc. (NYSE:PNC - Get Free Report) was the recipient of a significant decline in short interest during the month of 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 currently 2.0 days. Currently, 1.1% of the shares of the company are sold short.

Wall Street Analyst Weigh In

PNC has been the subject of several research reports. Morgan Stanley upped their price target on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an "underweight" rating in a research report on Friday, January 17th. Citigroup increased their price target on shares of 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. Truist Financial boosted their price objective 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. Piper Sandler raised their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a "neutral" rating in a report on Tuesday, December 3rd. Finally, Barclays boosted their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an "overweight" rating in a report on Monday, January 6th. 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's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $203.71.

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Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $192.15, for a total value of $238,650.30. Following the completion of the sale, the chief executive officer now owns 527,555 shares of the company's stock, valued at $101,369,693.25. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 12,420 shares of company stock valued at $2,369,165 over the last three months. Insiders own 0.42% of the company's stock.

Institutional Investors Weigh In On The PNC Financial Services Group

Several institutional investors have recently modified their holdings of the stock. Norges Bank bought a new stake in The PNC Financial Services Group in the fourth quarter worth $1,352,151,000. Leigh Baldwin & CO. LLC purchased a new position in shares of The PNC Financial Services Group during the 4th quarter worth about $299,864,000. Schroder Investment Management Group raised its position in The PNC Financial Services Group by 166.1% in the 4th quarter. Schroder Investment Management Group now owns 1,378,675 shares of the financial services provider's stock worth $265,436,000 after purchasing an additional 860,554 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in The PNC Financial Services Group by 10.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider's stock worth $1,453,763,000 after purchasing an additional 726,115 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of The PNC Financial Services Group by 22.5% during the fourth quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider's stock valued at $746,435,000 after buying an additional 710,311 shares during the period. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock traded down $0.06 during midday trading on Friday, reaching $173.35. 5,500,275 shares of the stock traded hands, compared to its average volume of 1,757,655. 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 has a 12 month low of $143.52 and a 12 month high of $216.26. The stock's fifty day moving average is $190.03 and its 200-day moving average is $192.22. The stock has a market cap of $68.60 billion, a P/E ratio of 12.61, a PEG ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) 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 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 for the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the prior year, the firm earned $3.16 earnings per share. The PNC Financial Services Group's revenue was up 3.8% on a year-over-year basis. As a group, equities research analysts anticipate that The PNC Financial Services Group will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a $1.60 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.69%. The PNC Financial Services Group's dividend payout ratio is currently 46.55%.

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.