PNC Financial Services Executive Vice President Richard Bynum Offloads Shares

On May 7, 2024, Richard Bynum, Executive Vice President of PNC Financial Services Group Inc (NYSE:PNC), made a significant move by selling 850 shares of the company. The transaction, which was filed as per the SEC Filing, caught the attention of investors and analysts alike.

PNC Financial Services Group Inc is a well-known diversified financial services company in the United States, offering a range of financial products including retail banking, corporate and institutional banking, asset management, and residential mortgage banking services.

The shares were sold at a price of $155.87, totaling approximately $132,489.50. Following this transaction, Bynum’s direct ownership in the company now stands at 0 shares. This sale adds to the insider’s previous transactions over the past year, where a total of 850 shares were sold without any purchases.

With a current market cap of approximately $62.55 billion, PNC Financial Services Group Inc has a price-earnings ratio of 13.20, which is above the industry median. According to the GF Value, the intrinsic value of the stock is estimated at $173.12, indicating that the stock is Fairly Valued with a price-to-GF-Value ratio of 0.9.

Investors tracking insider behaviors may find this sale of interest as a gauge of the company’s financial health and future prospects. It is important to note that this article, generated by GuruFocus, provides general insights and is not tailored financial advice.