PITTSBURGH—William S. Demchak, CEO of PNC Financial Services Group, Inc. (NYSE:PNC), recently sold 1,242 shares of the company’s stock, according to a Form 4 filing with the Securities and Exchange Commission. The sale, executed on February 14, 2025, was conducted at a price of $196.14 per share, amounting to a total transaction value of approximately $243,605.
Following this transaction, Demchak retains direct ownership of 526,269 shares. Additionally, he holds 2,702 shares indirectly through a 401(k) plan. The sale was conducted under a Rule 10b5-1 trading plan that Demchak adopted on March 15, 2024. This type of trading plan allows company insiders to set up a predetermined schedule for selling stocks, helping to avoid potential accusations of insider trading.
PNC Financial Services Group, headquartered in Pittsburgh, is a major player in the national commercial banking sector, offering shareholders a 3.3% dividend yield and maintaining dividend payments for 55 consecutive years. According to InvestingPro analysis, the stock currently shows signs of being slightly undervalued, with additional insights available in the comprehensive Pro Research Report.
In other recent news, PNC Financial Services Group has been making notable strides in its financial operations. The company successfully raised $2.75 billion through a public offering of senior notes, which were issued in two tranches due in 2031 and 2036. This move was part of PNC’s strategy to manage its debt portfolio and secure long-term financing. The underwriters for this transaction included PNC Capital Markets LLC, BofA Securities, Inc., and Citigroup (NYSE:C) Global Markets Inc.
In addition to this, the company reported strong Q4 earnings that surpassed analysts’ expectations. PNC Financial Services posted earnings per share of $3.77 and revenue of $5.57 billion, both exceeding the projected figures. The bank’s net interest income rose 3% from the previous quarter to $3.52 billion. For the full year 2024, PNC reported a net income of $6.0 billion and diluted earnings per share of $13.74. These recent developments highlight PNC Financial Services’ active financial management and robust earnings performance.
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