Strs Ohio Acquires Shares of 140,292 The PNC Financial Services Group, Inc $PNC

Key Points

• Strs Ohio acquired 140,292 shares of The PNC Financial Services Group, valued at approximately $24.66 million, as reported in their recent SEC filing.
• The PNC Financial Services Group recently increased its quarterly dividend from $1.60 to $1.70, resulting in an annualized dividend yield of 3.4%.
• The company reported an EPS of $3.85 for the last quarter, exceeding analysts' expectations of $3.56, with a year-over-year revenue increase of 4.6%.

Strs Ohio bought a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 140,292 shares of the financial services provider's stock, valued at approximately $24,659,000.

Several other large investors have also added to or reduced their stakes in PNC. Brighton Jones LLC boosted its holdings in The PNC Financial Services Group by 32.2% during the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider's stock worth $779,000 after purchasing an additional 984 shares during the last quarter. NorthRock Partners LLC acquired a new position in The PNC Financial Services Group during the fourth quarter worth $576,000. Nomura Holdings Inc. acquired a new position in The PNC Financial Services Group during the fourth quarter worth $2,522,000. Man Group plc boosted its holdings in The PNC Financial Services Group by 70.3% during the fourth quarter. Man Group plc now owns 20,234 shares of the financial services provider's stock worth $3,902,000 after purchasing an additional 8,353 shares during the last quarter. Finally, Pathstone Holdings LLC boosted its holdings in The PNC Financial Services Group by 3.2% during the fourth quarter. Pathstone Holdings LLC now owns 70,276 shares of the financial services provider's stock worth $13,553,000 after purchasing an additional 2,151 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

The PNC Financial Services Group Price Performance

PNC stock traded up $0.72 during mid-day trading on Monday, hitting $202.70. The stock had a trading volume of 1,464,299 shares, compared to its average volume of 1,509,861. The firm has a fifty day simple moving average of $197.01 and a 200 day simple moving average of $180.50. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week 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 firm has a market capitalization of $79.82 billion, a P/E ratio of 13.86, a P/E/G ratio of 1.49 and a beta of 1.11.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.56 by $0.29. The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $5.61 billion. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The company's revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business earned $3.39 EPS. 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 year.

The PNC Financial Services Group Increases Dividend

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

Analyst Ratings Changes

PNC has been the subject of a number of recent analyst reports. The Goldman Sachs Group increased their price target on shares of The PNC Financial Services Group from $178.00 to $196.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Truist Financial increased their price target on shares of The PNC Financial Services Group from $189.00 to $198.00 and gave the company a "hold" rating in a research note on Wednesday, July 9th. Bank of America increased their price target on shares of The PNC Financial Services Group from $223.00 to $226.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Stephens reiterated an "equal weight" rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a research note on Wednesday, September 10th. Finally, Keefe, Bruyette & Woods upgraded shares of The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and increased their price target for the company from $185.00 to $212.00 in a research note on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $213.67.

The PNC Financial Services Group 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.