Fulton Bank N.A. Purchases 2,754 Shares of The PNC Financial Services Group, Inc $PNC

Key Points

• Fulton Bank N.A. increased its stake in The PNC Financial Services Group by 12.4% in Q2, acquiring an additional 2,754 shares for a total of 25,012 shares valued at $4.66 million.
• Research analysts have upgraded their ratings for PNC, with Keefe, Bruyette & Woods and Oppenheimer raising target prices to $212 and $238, respectively.
• The PNC Financial Services Group recently declared a quarterly dividend of $1.70 per share, increasing from the previous $1.60, resulting in an annualized yield of 3.3%.

Fulton Bank N.A. increased its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 12.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,012 shares of the financial services provider's stock after buying an additional 2,754 shares during the quarter. Fulton Bank N.A.'s holdings in The PNC Financial Services Group were worth $4,663,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of PNC. Saudi Central Bank purchased a new position in The PNC Financial Services Group in the first quarter worth $27,000. Cornerstone Planning Group LLC boosted its position in The PNC Financial Services Group by 50.8% in the first 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 during the last quarter. REAP Financial Group LLC boosted its position in The PNC Financial Services Group by 67.2% in the fourth quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider's stock worth $38,000 after purchasing an additional 80 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in The PNC Financial Services Group in the first quarter worth $35,000. Finally, WPG Advisers LLC purchased a new position in The PNC Financial Services Group in the first quarter worth $36,000. Institutional investors own 83.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PNC shares. Oppenheimer raised The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $238.00 price target on the stock in a research report on Wednesday, July 30th. Morgan Stanley upped their price target on The PNC Financial Services Group from $179.00 to $186.00 and gave the company an "underweight" rating in a research report on Thursday, July 17th. Stephens reaffirmed an "equal weight" rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, September 10th. Wall Street Zen raised The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Finally, The Goldman Sachs Group upped their price target on The PNC Financial Services Group from $178.00 to $196.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. One equities 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 given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $213.94.

The PNC Financial Services Group Price Performance

NYSE PNC traded down $0.74 during trading on Friday, reaching $205.53. The company's stock had a trading volume of 3,001,178 shares, compared to its average volume of 1,444,857. The stock has a market capitalization of $80.94 billion, a PE ratio of 14.06, a P/E/G ratio of 1.52 and a beta of 1.11. 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 firm has a fifty day moving average of $197.54 and a 200 day moving average of $181.09. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its earnings results 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 business 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 quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company earned $3.39 EPS. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS 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 paid a $1.70 dividend. The ex-dividend date was Tuesday, July 15th. This represents a $6.80 dividend on an annualized basis and a 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 currently 46.51%.

The PNC Financial Services Group 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.