Evanson Asset Management LLC Makes New Investment in The PNC Financial Services Group, Inc $PNC

Key Points

• Evanson Asset Management LLC acquired 1,334 shares of The PNC Financial Services Group, Inc, valued at approximately $249,000, indicating a growing interest in the company's stock.
• The company's quarterly earnings exceeded analysts' expectations, reporting $3.85 EPS, with revenue increasing by 4.6% year-over-year to $3.01 billion.
• The PNC Financial Services Group recently increased its quarterly dividend from $1.60 to $1.70, reflecting a commitment to returning capital to shareholders.

Evanson Asset Management LLC acquired a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,334 shares of the financial services provider's stock, valued at approximately $249,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Chronos Wealth Management LLC boosted its position in The PNC Financial Services Group by 2.2% during the second quarter. Chronos Wealth Management LLC now owns 21,324 shares of the financial services provider's stock worth $3,975,000 after purchasing an additional 460 shares during the period. Northside Capital Management LLC bought a new position in The PNC Financial Services Group during the second quarter worth $5,215,000. Accurate Wealth Management LLC lifted its holdings in shares of The PNC Financial Services Group by 2.4% during the second quarter. Accurate Wealth Management LLC now owns 8,878 shares of the financial services provider's stock worth $1,757,000 after buying an additional 210 shares in the last quarter. Maseco LLP acquired a new stake in shares of The PNC Financial Services Group during the second quarter worth $215,000. Finally, Retirement Income Solutions Inc acquired a new stake in shares of The PNC Financial Services Group during the second quarter worth $206,000. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Stock Down 0.1%

Shares of NYSE PNC opened at $203.71 on Thursday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.80 and a current ratio of 0.80. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $216.26. The stock has a market capitalization of $80.22 billion, a P/E ratio of 13.93, a PEG ratio of 1.50 and a beta of 1.11. The stock's fifty day moving average is $198.10 and its 200 day moving average is $181.59.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $3.01 billion for the quarter, compared to analysts' expectations of $5.61 billion. During the same quarter last year, the business earned $3.39 earnings per share. The PNC Financial Services Group'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. Sell-side analysts forecast 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 announced a quarterly dividend, which was paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th were given a $1.70 dividend. This is a boost from The PNC Financial Services Group's previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Tuesday, July 15th. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 46.51%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PNC. Stephens reissued an "equal weight" rating and set a $200.00 target price on shares of The PNC Financial Services Group in a report on Wednesday, September 10th. Oppenheimer dropped their target price on The PNC Financial Services Group from $238.00 to $235.00 and set an "outperform" rating for the company in a report on Tuesday. Raymond James Financial lifted their target price on 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. Piper Sandler lifted their target price on The PNC Financial Services Group from $200.00 to $211.00 and gave the stock a "neutral" rating in a report on Wednesday, September 10th. Finally, The Goldman Sachs Group lifted their target price on The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $215.17.

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.

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