Dark Forest Capital Management LP Purchases 24,046 Shares of The PNC Financial Services Group, Inc $PNC

Key Points

• Dark Forest Capital Management LP significantly increased its holdings in The PNC Financial Services Group by 937.5%, acquiring an additional 24,046 shares during the first quarter.
• PNC recently raised its quarterly dividend from $1.60 to $1.70, representing a 3.3% yield and an annualized amount of $6.80.
• PNC shares have received a mix of ratings from analysts, with a consensus rating of "Moderate Buy" and a target price of $214.17.

Dark Forest Capital Management LP increased its holdings in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 937.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,611 shares of the financial services provider's stock after acquiring an additional 24,046 shares during the period. Dark Forest Capital Management LP's holdings in The PNC Financial Services Group were worth $4,677,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. PKS Advisory Services LLC raised its stake in shares of The PNC Financial Services Group by 3.2% during the 1st quarter. PKS Advisory Services LLC now owns 1,910 shares of the financial services provider's stock worth $332,000 after purchasing an additional 60 shares in the last quarter. Cornerstone Planning Group LLC raised its stake in shares of 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 worth $34,000 after purchasing an additional 65 shares in the last quarter. WealthPLAN Partners LLC raised its stake in shares of The PNC Financial Services Group by 0.5% during the 1st quarter. WealthPLAN Partners LLC now owns 12,629 shares of the financial services provider's stock worth $2,220,000 after purchasing an additional 66 shares in the last quarter. Calton & Associates Inc. raised its stake in shares of The PNC Financial Services Group by 1.8% during the 1st quarter. Calton & Associates Inc. now owns 3,666 shares of the financial services provider's stock worth $644,000 after purchasing an additional 66 shares in the last quarter. Finally, Y.D. More Investments Ltd raised its stake in shares of The PNC Financial Services Group by 13.8% during the 1st quarter. Y.D. More Investments Ltd now owns 559 shares of the financial services provider's stock worth $98,000 after purchasing an additional 68 shares in the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Performance

PNC traded down $2.85 during midday trading on Friday, reaching $204.51. The company's stock had a trading volume of 1,272,975 shares, compared to its average volume of 1,494,110. The stock has a market cap of $80.54 billion, a P/E ratio of 13.99, a PEG ratio of 1.53 and a beta of 1.11. The company has a fifty day simple moving average of $195.96 and a 200 day simple moving average of $180.08. 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 PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.56 by $0.29. The firm 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 company's revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.39 EPS. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th were given a $1.70 dividend. The ex-dividend date was Tuesday, July 15th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.3%. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.60. The PNC Financial Services Group's dividend payout ratio is 46.51%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PNC shares. Raymond James Financial raised The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 price target for the company in a research note on Tuesday, July 8th. Oppenheimer raised The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $238.00 price objective on the stock in a report on Wednesday, July 30th. Citigroup increased their price objective on The PNC Financial Services Group from $205.00 to $217.00 and gave the company a "buy" rating in a report on Thursday, July 17th. TD Cowen started coverage on The PNC Financial Services Group in a report on Thursday, May 15th. They set a "buy" rating and a $233.00 price objective on the stock. Finally, Wall Street Zen raised The PNC Financial Services Group from a "sell" rating to a "hold" rating in a report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $214.17.

About The PNC Financial Services Group

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.