Cape ANN Savings Bank Acquires Shares of 3,876 The PNC Financial Services Group, Inc $PNC

Key Points

• Cape ANN Savings Bank acquired a new stake in The PNC Financial Services Group, purchasing 3,876 shares valued at approximately $681,000 during the first quarter.
• Analysts have been optimistic about PNC, with TD Cowen giving a "buy" rating and a price target of $233, while Citigroup raised its target from $205 to $217.
• The PNC Financial Services Group recently increased its quarterly dividend from $1.60 to $1.70, yielding 3.3% annually, reflecting strong financial performance.

Cape ANN Savings Bank acquired a new stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,876 shares of the financial services provider's stock, valued at approximately $681,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PNC. Brighton Jones LLC increased its position in The PNC Financial Services Group by 32.2% during the 4th 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 period. Beacon Pointe Advisors LLC increased its position in The PNC Financial Services Group by 2.3% during the 4th quarter. Beacon Pointe Advisors LLC now owns 17,479 shares of the financial services provider's stock worth $3,371,000 after purchasing an additional 398 shares during the period. Lido Advisors LLC increased its position in The PNC Financial Services Group by 6.1% during the 4th quarter. Lido Advisors LLC now owns 11,145 shares of the financial services provider's stock worth $2,149,000 after purchasing an additional 642 shares during the period. AQR Capital Management LLC increased its position in The PNC Financial Services Group by 184.0% during the 4th quarter. AQR Capital Management LLC now owns 494,725 shares of the financial services provider's stock worth $95,408,000 after purchasing an additional 320,510 shares during the period. Finally, Freestone Grove Partners LP acquired a new position in The PNC Financial Services Group during the 4th quarter worth approximately $69,009,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Trading Up 1.0%

Shares of The PNC Financial Services Group stock traded up $2.09 during trading hours on Friday, reaching $207.71. 2,045,627 shares of the company's stock were exchanged, compared to its average volume of 1,574,998. 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 $81.80 billion, a price-to-earnings ratio of 14.21, a price-to-earnings-growth ratio of 1.53 and a beta of 1.09. The company has a fifty day moving average of $193.71 and a 200-day moving average of $179.59. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share for the quarter, topping the consensus estimate of $3.56 by $0.29. The business had revenue of $3.01 billion for 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 business's quarterly revenue was up 4.6% on a year-over-year basis. During the same period last year, the company posted $3.39 EPS. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Sell-side 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. Investors of record on Tuesday, July 15th were given 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 annualized dividend and a dividend yield of 3.3%. The PNC Financial Services Group's dividend payout ratio is 46.51%.

Wall Street Analyst Weigh In

Several research firms have issued reports on PNC. Wall Street Zen upgraded The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. 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 report on Wednesday, July 2nd. Keefe, Bruyette & Woods upgraded The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and upped their price target for the stock from $185.00 to $212.00 in a report on Wednesday, July 9th. Bank of America upped their price target on 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, 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 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 given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group has an average rating of "Moderate Buy" and a consensus price target of $214.17.

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.