The PNC Financial Services Group, Inc $PNC Shares Bought by Fragasso Financial Advisors Inc

Key Points

• Fragasso Financial Advisors Inc increased its stake in The PNC Financial Services Group by 36.7%, purchasing an additional 2,488 shares during the second quarter, bringing their total ownership to 9,261 shares valued at approximately $1,726,000.
• The PNC Financial Services Group recently reported earnings of $3.85 per share, surpassing analysts' estimates of $3.56, alongside a revenue of $3.01 billion for the quarter.
• The company also announced a quarterly dividend increase from $1.60 to $1.70 per share, representing an annualized dividend of $6.80 and a yield of 3.4%.

Fragasso Financial Advisors Inc grew its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 36.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,261 shares of the financial services provider's stock after purchasing an additional 2,488 shares during the period. Fragasso Financial Advisors Inc's holdings in The PNC Financial Services Group were worth $1,726,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Ignite Planners LLC increased its holdings in shares of The PNC Financial Services Group by 8.4% in the first quarter. Ignite Planners LLC now owns 1,628 shares of the financial services provider's stock valued at $262,000 after purchasing an additional 126 shares during the period. Exane Asset Management grew its holdings in The PNC Financial Services Group by 32.9% during the first quarter. Exane Asset Management now owns 149,783 shares of the financial services provider's stock worth $28,434,000 after acquiring an additional 37,110 shares during the period. Smith Salley Wealth Management grew its holdings in The PNC Financial Services Group by 15.6% during the first quarter. Smith Salley Wealth Management now owns 72,844 shares of the financial services provider's stock worth $12,804,000 after acquiring an additional 9,836 shares during the period. United Community Bank grew its holdings in The PNC Financial Services Group by 687.0% during the first quarter. United Community Bank now owns 12,325 shares of the financial services provider's stock worth $2,166,000 after acquiring an additional 10,759 shares during the period. Finally, Kingswood Wealth Advisors LLC grew its holdings in The PNC Financial Services Group by 4.5% during the first quarter. Kingswood Wealth Advisors LLC now owns 2,802 shares of the financial services provider's stock worth $493,000 after acquiring an additional 120 shares during the period. 83.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PNC shares. Citigroup raised their target price on The PNC Financial Services Group from $205.00 to $217.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Raymond James Financial raised 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 report on Tuesday, July 8th. Morgan Stanley raised their target price on The PNC Financial Services Group from $179.00 to $186.00 and gave the stock an "underweight" rating in a report on Thursday, July 17th. Wolfe Research reaffirmed a "peer perform" rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. Finally, Truist Financial raised their target price on The PNC Financial Services Group from $189.00 to $198.00 and gave the stock a "hold" rating in a report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group has an average rating of "Moderate Buy" and a consensus price target of $213.67.

The PNC Financial Services Group Price Performance

PNC stock traded up $2.70 during mid-day trading on Wednesday, reaching $203.64. 1,387,580 shares of the company's stock were exchanged, compared to its average volume of 1,489,931. The company has a market cap of $80.20 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 1.48 and a beta of 1.11. The stock's 50 day moving average is $197.21 and its 200 day moving average is $180.80. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.80 and a quick ratio of 0.80. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-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 for the quarter, beating the consensus estimate of $3.56 by $0.29. The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate 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 business's quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $3.39 earnings per share. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, research analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.3%. This is a boost from The PNC Financial Services Group's previous quarterly dividend of $1.60. The ex-dividend date was Tuesday, July 15th. The PNC Financial Services Group's dividend payout ratio (DPR) is 46.51%.

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.