Canopy Partners LLC Sells 2,987 Shares of The PNC Financial Services Group, Inc $PNC

Key Points

• Canopy Partners LLC has reduced its stake in The PNC Financial Services Group by 29.3%, selling 2,987 shares, leaving them with 7,209 shares valued at approximately $1,344,000.
• The company recently reported a Q2 earnings per share (EPS) of $3.85, exceeding analysts' estimates, alongside a revenue of $3.01 billion for the quarter.
• The PNC Financial Services Group declared a quarterly dividend of $1.70 per share, with an expected annualized dividend yield of 3.5%.

Canopy Partners LLC reduced its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 29.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,209 shares of the financial services provider's stock after selling 2,987 shares during the period. Canopy Partners LLC's holdings in The PNC Financial Services Group were worth $1,344,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PNC. Saudi Central Bank acquired a new stake in The PNC Financial Services Group during the 1st quarter worth about $27,000. Cornerstone Planning Group LLC boosted its stake in The PNC Financial Services Group by 50.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 65 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in The PNC Financial Services Group during the 1st quarter valued at about $35,000. WPG Advisers LLC acquired a new position in The PNC Financial Services Group during the 1st quarter valued at about $36,000. Finally, Fourth Dimension Wealth LLC acquired a new position in The PNC Financial Services Group during the 1st quarter valued at about $41,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Wall Street Zen raised shares of The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Raymond James Financial lifted their price target on shares of The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an "outperform" rating in a report on Friday, September 19th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of The PNC Financial Services Group in a report on Saturday, September 27th. Bank of America lifted their price target on shares of The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Finally, Wells Fargo & Company lifted their price target on shares of The PNC Financial Services Group from $230.00 to $240.00 and gave the stock an "overweight" rating in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $217.74.

The PNC Financial Services Group Stock Down 0.8%

PNC opened at $193.98 on Wednesday. The company has a fifty day moving average price of $198.71 and a 200-day moving average price of $183.33. The firm has a market capitalization of $76.39 billion, a P/E ratio of 13.27, a price-to-earnings-growth ratio of 1.44 and a beta of 1.10. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.80 and a quick ratio of 0.80. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its 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 PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The company had revenue of $3.01 billion during the quarter, compared to analyst estimates of $5.61 billion. During the same period in the previous year, the business earned $3.39 earnings per share. The firm's quarterly revenue was up 4.6% compared to the same quarter last year. 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 fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, October 14th. The PNC Financial Services Group's dividend payout ratio is 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.

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