13,435 Shares of The PNC Financial Services Group, Inc $PNC Acquired by CenterBook Partners LP

Key Points

• CenterBook Partners LP initiated a position in PNC, buying 13,435 shares valued at about $2.99 million. Institutional investors collectively own 83.53% of the company’s stock.
• PNC’s latest quarterly results beat earnings expectations, reporting EPS of $5.09 versus estimates of $4.91; revenue rose 10.9% year over year to $6.60 billion, slightly below forecasts.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $266.04. PNC also paid a quarterly dividend of $2 per share, equivalent to an annualized yield of about 3.5%.

CenterBook Partners LP purchased a new stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 13,435 shares of the financial services provider's stock, valued at approximately $2,986,000.

Several other large investors have also recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in shares of The PNC Financial Services Group in the second quarter valued at approximately $7,921,455,000. State Street Corp increased its stake in shares of The PNC Financial Services Group by 4.3% during the second quarter. State Street Corp now owns 18,434,446 shares of the financial services provider's stock worth $4,538,929,000 after purchasing an additional 765,097 shares during the period. Bank of America Corp DE acquired a new stake in The PNC Financial Services Group during the 2nd quarter worth approximately $2,102,631,000. Deutsche Bank AG acquired a new stake in The PNC Financial Services Group during the 2nd quarter worth approximately $1,054,189,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in The PNC Financial Services Group by 1.1% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,607,786 shares of the financial services provider's stock worth $888,309,000 after purchasing an additional 39,112 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PNC. HSBC boosted their price target on The PNC Financial Services Group from $275.00 to $283.00 and gave the company a "buy" rating in a research note on Monday, September 28th. Wolfe Research initiated coverage on The PNC Financial Services Group in a research report on Tuesday, October 27th. They set a "peer perform" rating on the stock. JPMorgan Chase & Co. lifted their target price on The PNC Financial Services Group from $258.00 to $259.00 and gave the stock an "overweight" rating in a report on Friday, October 30th. DA Davidson boosted their target price on shares of The PNC Financial Services Group from $247.00 to $281.00 and gave the company a "buy" rating in a research report on Thursday, July 16th. Finally, TD Cowen reduced their target price on shares of The PNC Financial Services Group from $245.00 to $240.00 and set a "hold" rating for the company in a research report on Friday, October 16th. Seventeen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $266.04.

The PNC Financial Services Group Trading Down 0.6%

Shares of PNC stock opened at $225.41 on Friday. The stock has a market cap of $89.44 billion, a P/E ratio of 12.00, a price-to-earnings-growth ratio of 1.16 and a beta of 0.92. The PNC Financial Services Group, Inc has a 1 year low of $177.08 and a 1 year high of $258.96. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.28. The stock has a 50 day simple moving average of $228.58 and a 200 day simple moving average of $229.20.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings data on Thursday, October 15th. The financial services provider reported $5.09 EPS for the quarter, topping analysts' consensus estimates of $4.91 by $0.18. The firm had revenue of $6.60 billion for the quarter, compared to analyst estimates of $6.61 billion. The PNC Financial Services Group had a return on equity of 12.82% and a net margin of 21.83%. The company's revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the company earned $4.35 EPS. On average, research analysts predict that The PNC Financial Services Group, Inc will post 19.24 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 5th. Stockholders of record on Wednesday, October 14th were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Wednesday, October 14th. The PNC Financial Services Group's dividend payout ratio is 42.58%.

Insider Activity

In related news, EVP Stacy Juchno sold 3,354 shares of the firm's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $255.84, for a total value of $858,087.36. Following the transaction, the executive vice president owned 18,800 shares in the company, valued at approximately $4,809,792. This trade represents a 15.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.38% of the company's stock.

The PNC Financial Services Group News Summary

Here are the key news stories impacting The PNC Financial Services Group this week:

• Positive Sentiment: PNC Bank plans to expand to more than 370 new branches by 2031, including over 50 additional locations in South Carolina and Georgia. The expansion targets fast-growing markets and could support future customer and revenue growth, though returns will depend on execution. PNC Bank expands branch buildout
• Positive Sentiment: Sell-side analysts were reported to rate PNC a “Moderate Buy,” reflecting a generally favorable analyst view. Analyst rating coverage
• Neutral Sentiment: PNC presented at the BancAnalysts Association of Boston conference. The available headline provides no specific new financial outlook or business updates to assess. Conference transcript
• Negative Sentiment: PNC announced that Alexander E.C. Overstrom will become CFO, with current CFO Robert Q. Reilly moving to executive vice chairman in March 2027. The planned succession provides a transition timeline, but shares reportedly came under pressure after the announcement, suggesting investor concern about the leadership change. CFO transition announcement

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. It serves consumers, small businesses, corporations, government entities and institutional clients through a range of banking and financial services.

PNC's businesses include retail banking, corporate and institutional banking, and asset management. Its offerings include deposit accounts, lending, cash management, treasury services, investment and wealth management, and other financial products and services.

The company traces its history to 1852 and took its current name following the 1983 merger of Pittsburgh National Corporation and Provident National Corporation.

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