Insider Buying: PNC Financial Services Group Director Buys 25,000 Shares of Stock (PNC)
PNC Financial Services Group (NYSE:PNC) Director Andrew T. Feldstein acquired 25,000 shares of PNC Financial Services Group stock in a transaction that occurred on Friday, August 1st. The shares were purchased at an average cost of $81.87 per share, with a total value of $2,046,750.00. Following the transaction, the director now directly owns 13,000 shares of the company’s stock, valued at approximately $1,064,310. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of PNC Financial Services Group (NYSE:PNC) traded down 0.67% during mid-day trading on Tuesday, hitting $81.75. 2,393,800 shares of the company’s stock traded hands. PNC Financial Services Group has a one year low of $70.63 and a one year high of $90.00. The stock’s 50-day moving average is $86.62 and its 200-day moving average is $84.34. The company has a market cap of $43.491 billion and a price-to-earnings ratio of 11.19.
PNC Financial Services Group (NYSE:PNC) last released its earnings data on Wednesday, July 16th. The company reported $1.85 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.78 by $0.07. The company had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.81 billion. During the same quarter in the prior year, the company posted $1.99 earnings per share. The company’s quarterly revenue was down 6.3% on a year-over-year basis. On average, analysts predict that PNC Financial Services Group will post $7.12 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, August 5th. Shareholders of record on Tuesday, July 15th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Friday, July 11th.
A number of research firms have recently commented on PNC. Analysts at Barclays reiterated an “equal weight” rating on shares of PNC Financial Services Group in a research note on Thursday, July 17th. They now have a $89.00 price target on the stock, up previously from $85.00. Separately, analysts at Credit Suisse reiterated a “neutral” rating on shares of PNC Financial Services Group in a research note on Thursday, July 17th. They now have a $92.00 price target on the stock, down previously from $95.00. Finally, analysts at Portales Partners downgraded shares of PNC Financial Services Group from an “outperform” rating to a “sector perform” rating in a research note on Thursday, July 17th. Eleven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $92.30.
The PNC Financial Services Group, Inc (NYSE:PNC) is a financial service company.
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