Empirical Financial Services LLC d.b.a. Empirical Wealth Management Purchases 4,013 Shares of The PNC Financial Services Group, Inc $PNC

Key Points

• Empirical Wealth Management increased its stake in PNC by 149.7% in the first quarter, buying 4,013 additional shares and bringing its total holding to 6,693 shares worth about $1.39 million.
• PNC reported strong second-quarter results, with EPS of $4.85 and revenue of $6.66 billion both beating analyst estimates, supported by stronger net interest income, fee income, and loan growth.
• The bank also raised its quarterly dividend to $2.00 per share from $1.70, while management guided to continued growth in loans and net interest income for 2026.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 149.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,693 shares of the financial services provider's stock after purchasing an additional 4,013 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in The PNC Financial Services Group were worth $1,393,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PNC. Norges Bank purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter worth about $1,967,080,000. Viking Global Investors LP raised its position in shares of The PNC Financial Services Group by 234.9% in the third quarter. Viking Global Investors LP now owns 7,956,766 shares of the financial services provider's stock worth $1,598,753,000 after buying an additional 5,581,102 shares in the last quarter. Corient Private Wealth LLC raised its position in shares of The PNC Financial Services Group by 961.7% in the fourth quarter. Corient Private Wealth LLC now owns 2,630,300 shares of the financial services provider's stock worth $549,023,000 after buying an additional 2,382,552 shares in the last quarter. Deutsche Bank AG boosted its stake in The PNC Financial Services Group by 108.2% during the fourth quarter. Deutsche Bank AG now owns 3,836,936 shares of the financial services provider's stock valued at $800,884,000 after buying an additional 1,994,431 shares during the period. Finally, Wellington Management Group LLP raised its stake in The PNC Financial Services Group by 50.1% in the third quarter. Wellington Management Group LLP now owns 3,485,320 shares of the financial services provider's stock valued at $700,305,000 after purchasing an additional 1,162,964 shares in the last quarter. Institutional investors own 83.53% of the company's stock.

Insider Buying and Selling

In related news, EVP Stephanie Novosel sold 1,800 shares of the company's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the transaction, the executive vice president owned 3,107 shares of the company's stock, valued at approximately $710,664.11. This represents a 36.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Michael Duane Thomas sold 1,500 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $238.14, for a total transaction of $357,210.00. Following the transaction, the executive vice president directly owned 5,059 shares of the company's stock, valued at $1,204,750.26. This trade represents a 22.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 48,300 shares of company stock valued at $10,694,574. Company insiders own 0.38% of the company's stock.

The PNC Financial Services Group Price Performance

NYSE PNC opened at $254.30 on Thursday. The PNC Financial Services Group, Inc has a 52 week low of $176.88 and a 52 week high of $256.22. The firm has a market capitalization of $102.12 billion, a P/E ratio of 14.78, a PEG ratio of 1.03 and a beta of 0.91. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05. The company has a 50-day moving average price of $231.73 and a 200-day moving average price of $222.96.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.46 by $0.39. The company had revenue of $6.66 billion for the quarter, compared to the consensus estimate of $6.51 billion. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The firm's revenue was up 21.4% compared to the same quarter last year. During the same quarter last year, the firm posted $3.85 earnings per share. Equities research analysts anticipate that The PNC Financial Services Group, Inc will post 18.83 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, July 20th. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.70. The PNC Financial Services Group's payout ratio is presently 39.51%.

Key The PNC Financial Services Group News

Here are the key news stories impacting The PNC Financial Services Group this week:

• Positive Sentiment: PNC reported second-quarter EPS of $4.85 and revenue of $6.66 billion, both above analyst estimates, helped by stronger net interest income, fee income, and loan growth. PNC Reports Second Quarter 2026 Net Income of $2.1 Billion, $4.81 Diluted EPS or $4.85 as Adjusted
• Positive Sentiment: The bank delivered record quarterly revenue and record fee income, with capital markets activity providing a meaningful boost to results. PNC Financial posts record quarterly revenue on capital markets windfall, FirstBank buy
• Positive Sentiment: PNC raised its quarterly common stock dividend to $2.00 per share, signaling confidence in earnings power and balance-sheet strength. PNC Reports Second Quarter 2026 Net Income of $2.1 Billion, $4.81 Diluted EPS or $4.85 as Adjusted
• Positive Sentiment: Management guided to 2026 loan growth of about 12.5%, net interest income growth of 15%-15.5%, and a net interest margin above 3% by year-end, suggesting continued momentum. PNC forecasts 2026 loan growth of ~12.5% and net interest income up 15%-15.5% as it targets >3% net interest margin by year-end
• Neutral Sentiment: The earnings conference call and presentation should give investors more detail on integration costs, capital markets trends, and balance-sheet outlook, but they do not add a new major catalyst by themselves. Transcript: PNC Financial Services Gr Q2 2026 Earnings Conference Call
• Negative Sentiment: Some coverage noted shares had been under pressure despite the beat because expenses rose and deposits declined, which may temper enthusiasm around the results. PNC Financial Q2 Earnings Top on NII & Fee Income Growth, Stock Down

Analysts Set New Price Targets

Several equities research analysts have issued reports on PNC shares. Bank of America lifted their price target on The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Weiss Ratings reissued a "buy (b-)" rating on shares of The PNC Financial Services Group in a research note on Friday, March 27th. Morgan Stanley boosted their price objective on shares of The PNC Financial Services Group from $267.00 to $278.00 and gave the stock an "equal weight" rating in a report on Monday, June 29th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $235.00 price objective on shares of The PNC Financial Services Group in a research note on Wednesday, April 15th. Finally, Truist Financial lifted their target price on shares of The PNC Financial Services Group from $245.00 to $257.00 and gave the stock a "hold" rating in a research report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $258.09.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC's core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.

Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The PNC Financial Services Group, Inc (NYSE:PNC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.