1248 Management LLC Buys 7,902 Shares of The PNC Financial Services Group, Inc $PNC

Key Points

• 1248 Management LLC increased its stake in The PNC Financial Services Group by 155.5% in Q1, now holding 12,985 shares valued at approximately $2.28 million.
• The PNC Financial Services Group reported a Q2 EPS of $3.85, surpassing estimates, and recorded a 4.6% year-over-year revenue increase with total revenue of $3.01 billion.
• The company raised its quarterly dividend from $1.60 to $1.70 per share, reflecting a 3.4% yield and a payout ratio of 46.51%.

1248 Management LLC lifted its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 155.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,985 shares of the financial services provider's stock after purchasing an additional 7,902 shares during the period. The PNC Financial Services Group comprises approximately 0.9% of 1248 Management LLC's investment portfolio, making the stock its 17th largest holding. 1248 Management LLC's holdings in The PNC Financial Services Group were worth $2,282,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Saudi Central Bank bought a new stake in The PNC Financial Services Group in the 1st quarter valued at about $27,000. Cornerstone Planning Group LLC raised its stake in The PNC Financial Services Group by 50.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 65 shares during the period. REAP Financial Group LLC raised its stake in The PNC Financial Services Group by 67.2% in the 4th quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 80 shares during the period. Opal Wealth Advisors LLC bought a new stake in The PNC Financial Services Group in the 1st quarter valued at about $35,000. Finally, WPG Advisers LLC bought a new stake in The PNC Financial Services Group in the 1st quarter valued at about $36,000. 83.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PNC shares. Morgan Stanley boosted their price objective on The PNC Financial Services Group from $179.00 to $186.00 and gave the company an "underweight" rating in a research note on Thursday, July 17th. Bank of America upped their price target on The PNC Financial Services Group from $223.00 to $226.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Stephens reiterated an "equal weight" rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday. Oppenheimer upgraded The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $238.00 price target on the stock in a research report on Wednesday, July 30th. Finally, Raymond James Financial upgraded The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 price target on the stock in a research report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $213.67.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC traded down $0.60 during midday trading on Friday, hitting $202.15. 1,015,305 shares of the company's stock were exchanged, compared to its average volume of 1,509,861. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $216.26. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.99. The company has a market cap of $79.61 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 1.49 and a beta of 1.11. The business's fifty day moving average price is $196.88 and its two-hundred day moving average price is $180.42.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, topping the consensus estimate of $3.56 by $0.29. The company had revenue of $3.01 billion during the quarter, compared to analyst estimates of $5.61 billion. The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%.The PNC Financial Services Group's revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.39 earnings per share. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th were paid a $1.70 dividend. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Tuesday, July 15th. The PNC Financial Services Group's payout ratio is currently 46.51%.

The PNC Financial Services Group Company Profile

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.