Alliancebernstein L.P. raised its holdings in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 8.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 581,671 shares of the financial services provider's stock after purchasing an additional 46,187 shares during the quarter. Alliancebernstein L.P. owned 0.15% of The PNC Financial Services Group worth $102,240,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PNC. Saudi Central Bank purchased a new stake in The PNC Financial Services Group in the first quarter valued at $27,000. Cornerstone Planning Group LLC grew its stake in shares of The PNC Financial Services Group by 50.8% in the first quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock valued at $34,000 after buying an additional 65 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of The PNC Financial Services Group in the first quarter valued at $35,000. WPG Advisers LLC acquired a new stake in shares of The PNC Financial Services Group in the first quarter valued at $36,000. Finally, REAP Financial Group LLC grew its stake in shares of The PNC Financial Services Group by 67.2% in the fourth quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider's stock valued at $38,000 after buying an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.
The PNC Financial Services Group Stock Down 1.4%
The PNC Financial Services Group stock opened at $204.51 on Friday. The stock has a 50-day simple moving average of $195.96 and a 200-day simple moving average of $180.08. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market capitalization of $80.54 billion, a P/E ratio of 13.99, a PEG ratio of 1.53 and a beta of 1.11. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26.
The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, beating the consensus estimate of $3.56 by $0.29. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate 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 firm's revenue was up 4.6% compared to the same quarter last year. During the same period in the prior 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. Equities research analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.
The PNC Financial Services Group Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $6.80 annualized dividend and a yield of 3.3%. This is a boost from The PNC Financial Services Group's previous quarterly dividend of $1.60. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 46.51%.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on PNC. TD Cowen assumed coverage on The PNC Financial Services Group in a research note on Thursday, May 15th. They issued a "buy" rating and a $233.00 price objective for the company. The Goldman Sachs Group boosted their target price on The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Citigroup upped their price objective on The PNC Financial Services Group from $205.00 to $217.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Wolfe Research reaffirmed a "peer perform" rating on shares of The PNC Financial Services Group in a research report on Thursday, July 3rd. Finally, Raymond James Financial raised The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 price objective for the company in a research report on Tuesday, July 8th. 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 company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $214.17.
Read Our Latest Report on PNC
The PNC Financial Services Group Profile
(
Free Report)
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.
See Also
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