Comerica Bank Purchases 3,124 Shares of The PNC Financial Services Group, Inc $PNC

Key Points

• Comerica Bank increased its stake in The PNC Financial Services Group by 2.7%, acquiring an additional 3,124 shares, bringing its total to 118,563 shares worth approximately $20.84 million.
• Several institutional investors have significantly boosted their stakes in The PNC Financial Services Group, with True Wealth Design LLC increasing its stake by 41.5% and Cornerstone Planning Group LLC by 50.8% in the last quarter.
• The company recently declared an increased quarterly dividend of $1.70 per share, up from $1.60, providing a 3.4% dividend yield with a payout ratio of 46.51%.

Comerica Bank lifted its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 2.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 118,563 shares of the financial services provider's stock after acquiring an additional 3,124 shares during the period. Comerica Bank's holdings in The PNC Financial Services Group were worth $20,840,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC boosted its stake in shares of The PNC Financial Services Group by 41.5% in the 4th quarter. True Wealth Design LLC now owns 201 shares of the financial services provider's stock worth $39,000 after buying an additional 59 shares during the last quarter. Cornerstone Planning Group LLC boosted its stake in shares of The PNC Financial Services Group by 50.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock worth $34,000 after buying an additional 65 shares during the last quarter. WealthPLAN Partners LLC boosted its stake in shares of The PNC Financial Services Group by 0.5% in the 1st quarter. WealthPLAN Partners LLC now owns 12,629 shares of the financial services provider's stock worth $2,220,000 after buying an additional 66 shares during the last quarter. Y.D. More Investments Ltd boosted its stake in shares of The PNC Financial Services Group by 13.8% in the 1st quarter. Y.D. More Investments Ltd now owns 559 shares of the financial services provider's stock worth $98,000 after buying an additional 68 shares during the last quarter. Finally, Spire Wealth Management boosted its stake in shares of The PNC Financial Services Group by 2.2% in the 1st quarter. Spire Wealth Management now owns 3,257 shares of the financial services provider's stock worth $573,000 after buying an additional 69 shares during the last quarter. Institutional investors own 83.53% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group raised their price target 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. Truist Financial lifted their target price on The PNC Financial Services Group from $189.00 to $198.00 and gave the company a "hold" rating in a research report on Wednesday, July 9th. Raymond James Financial upgraded The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 target price on the stock in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods upgraded The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and lifted their target price for the company from $185.00 to $212.00 in a research report on Wednesday, July 9th. Finally, Oppenheimer upgraded The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $238.00 target price on the stock in a research report on Wednesday, July 30th. One investment 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $214.17.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock opened at $200.8050 on Tuesday. The stock's 50-day simple moving average is $191.26 and its 200-day simple moving average is $179.23. 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 market capitalization of $79.08 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 1.49 and a beta of 1.09. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.99.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced 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 PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%.The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $5.61 billion. During the same period in the previous year, the business earned $3.39 earnings per share. The business's revenue was up 4.6% on a year-over-year basis. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th were given a $1.70 dividend. The ex-dividend date was Tuesday, July 15th. This is a positive change from The PNC Financial Services Group's previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a dividend yield of 3.4%. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 46.51%.

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.

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