Golden State Equity Partners Decreases Stock Holdings in The PNC Financial Services Group, Inc $PNC

Key Points

• Golden State Equity Partners significantly reduced its holdings in PNC Financial Services by 62.8%, owning only 1,262 shares valued at $235,000 after selling 2,131 shares in the second quarter.
• The PNC Financial Services Group recently increased its quarterly dividend from $1.60 to $1.70 per share, resulting in an annualized dividend of $6.80 and a yield of 3.3%.
• According to Wall Street analysts, PNC has received mostly positive ratings, with an average price target of $214.50 and no fewer than eleven "Buy" ratings among the recommendations.

Golden State Equity Partners reduced its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 62.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,262 shares of the financial services provider's stock after selling 2,131 shares during the quarter. Golden State Equity Partners' holdings in The PNC Financial Services Group were worth $235,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in The PNC Financial Services Group by 0.7% during the first quarter. Vanguard Group Inc. now owns 37,965,619 shares of the financial services provider's stock worth $6,673,217,000 after buying an additional 248,252 shares during the period. Massachusetts Financial Services Co. MA grew its stake in The PNC Financial Services Group by 26.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 9,502,467 shares of the financial services provider's stock worth $1,670,249,000 after buying an additional 1,964,157 shares during the period. Ameriprise Financial Inc. grew its stake in The PNC Financial Services Group by 0.5% during the first quarter. Ameriprise Financial Inc. now owns 4,807,684 shares of the financial services provider's stock worth $844,967,000 after buying an additional 24,588 shares during the period. Bank of New York Mellon Corp grew its stake in The PNC Financial Services Group by 4.8% during the first quarter. Bank of New York Mellon Corp now owns 4,056,797 shares of the financial services provider's stock worth $713,063,000 after buying an additional 186,249 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of The PNC Financial Services Group by 41.8% during the first quarter. Goldman Sachs Group Inc. now owns 2,818,090 shares of the financial services provider's stock worth $495,336,000 after purchasing an additional 830,440 shares in the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Up 0.4%

Shares of NYSE:PNC opened at $203.95 on Wednesday. The stock has a market capitalization of $80.32 billion, a price-to-earnings ratio of 13.95, a price-to-earnings-growth ratio of 1.50 and a beta of 1.11. The PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-year high of $216.26. The company's fifty day moving average is $197.90 and its two-hundred day moving average is $181.43. 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 (NYSE:PNC - Get Free Report) last issued 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 company had revenue of $3.01 billion for the quarter, compared to analysts' expectations of $5.61 billion. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The firm's 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 earnings per share. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Equities analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current 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 issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.3%. This is a positive change from The PNC Financial Services Group's previous quarterly dividend of $1.60. The ex-dividend date of this dividend was Tuesday, July 15th. The PNC Financial Services Group's dividend payout ratio is currently 46.51%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Morgan Stanley boosted their target price on shares of The PNC Financial Services Group from $179.00 to $186.00 and gave the stock an "underweight" rating in a research report on Thursday, July 17th. Wolfe Research reissued a "peer perform" rating on shares of The PNC Financial Services Group in a research report on Thursday, July 3rd. Wall Street Zen raised shares of The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Raymond James Financial upped their price target on shares of The PNC Financial Services Group from $220.00 to $225.00 and gave the company an "outperform" rating in a report on Friday, September 19th. Finally, Oppenheimer cut their price target on shares of The PNC Financial Services Group from $238.00 to $235.00 and set an "outperform" rating on the stock in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, The PNC Financial Services Group currently has an average rating of "Moderate Buy" and an average target price of $214.50.

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.

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