Farther Finance Advisors LLC Raises Position in The PNC Financial Services Group, Inc $PNC

Key Points

• Farther Finance Advisors LLC increased its stake in The PNC Financial Services Group by 49.9%, owning a total of 9,695 shares worth approximately $1.8 million.
• The company recently increased its quarterly dividend from $1.60 to $1.70 per share, reflecting a dividend yield of 3.3%.
• After reporting earnings that exceeded analyst expectations, The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33% in the latest quarter.

Farther Finance Advisors LLC boosted its stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 49.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,695 shares of the financial services provider's stock after buying an additional 3,228 shares during the quarter. Farther Finance Advisors LLC's holdings in The PNC Financial Services Group were worth $1,807,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in The PNC Financial Services Group by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 37,965,619 shares of the financial services provider's stock valued at $6,673,217,000 after buying an additional 248,252 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in The PNC Financial Services Group by 26.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,502,467 shares of the financial services provider's stock valued at $1,670,249,000 after buying an additional 1,964,157 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in The PNC Financial Services Group by 0.5% in the 1st quarter. Ameriprise Financial Inc. now owns 4,807,684 shares of the financial services provider's stock valued at $844,967,000 after buying an additional 24,588 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in The PNC Financial Services Group by 4.8% in the 1st quarter. Bank of New York Mellon Corp now owns 4,056,797 shares of the financial services provider's stock valued at $713,063,000 after buying an additional 186,249 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in The PNC Financial Services Group by 41.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,818,090 shares of the financial services provider's stock valued at $495,336,000 after buying an additional 830,440 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 Down 1.0%

Shares of NYSE PNC opened at $203.48 on Tuesday. The firm has a market cap of $80.13 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 1.52 and a beta of 1.11. 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, Inc has a 52-week low of $145.12 and a 52-week high of $216.26. The business's 50 day moving average is $197.66 and its two-hundred day moving average is $181.27.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share 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 business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $5.61 billion. During the same quarter in the prior year, the company earned $3.39 earnings per share. The company'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. Research analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th were given a dividend of $1.70 per share. This is an increase 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 dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, July 15th. The PNC Financial Services Group's dividend payout ratio is currently 46.51%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Stephens reissued an "equal weight" rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research note on Wednesday, September 10th. Raymond James Financial raised their target price on shares of The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an "outperform" rating in a research note on Friday. Oppenheimer raised shares of 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 note on Wednesday, July 30th. Truist Financial raised their target price on shares of The PNC Financial Services Group from $189.00 to $198.00 and gave the stock a "hold" rating in a research note on Wednesday, July 9th. Finally, Citigroup raised their target price on shares of The PNC Financial Services Group from $205.00 to $217.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $213.94.

The PNC Financial Services Group Company 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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