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In a recent transaction, William S. Demchak, CEO of PNC Financial Services Group, Inc. (NYSE:PNC), a $69.41 billion market cap financial institution trading at a P/E ratio of 12.39, sold 1,242 shares of the company’s common stock. The shares were sold at a price of $169.75 each, totaling $210,829. This transaction was conducted under a Rule 10b5-1 trading plan that Demchak adopted on March 15, 2024. Following the sale, Demchak holds 554,879 shares directly. Additionally, he possesses 2,736 shares indirectly through a 401(k) plan. The company, which offers a 3.63% dividend yield and has raised dividends for 14 consecutive years, is currently trading near its InvestingPro Fair Value. Discover more insights and 8 additional ProTips with an InvestingPro subscription.
In other recent news, PNC Financial Services Group Inc. reported mixed financial results, with net interest income exceeding expectations by $0.05, but core fee income falling short by $0.11 due to weaker capital markets performance. Despite this, the company maintained its full-year earnings guidance, supported by stronger-than-expected loan growth. Analysts from Keefe, Bruyette & Woods downgraded PNC’s price target to $185 while maintaining an Underperform rating, citing pressure on stock valuation. Evercore ISI also revised its price target for PNC to $180, maintaining an Outperform rating, and adjusted its earnings per share estimates downward for 2025 and 2026 due to cautious credit forecasts. RBC Capital adjusted its price target to $195 but kept an Outperform rating, highlighting PNC’s strong commercial banking operations and diversified fee-based businesses. Additionally, PNC Financial announced the upcoming departure of COO E William Parsley III, effective July 2025, as part of a planned reorganization. The company’s recent shareholder meeting saw the election of 13 director nominees and strong support for executive compensation. Raymond (NSE:RYMD) James maintained a Market Perform rating on PNC following its first-quarter results, which exceeded expectations in core EPS and pre-provision net revenue.
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