Greenwood Capital Associates LLC Lowers Holdings in The PNC Financial Services Group, Inc $PNC

Key Points

• Greenwood Capital Associates LLC reduced its stake in The PNC Financial Services Group by 29.2%, now holding 8,685 shares worth approximately $1.62 million.
• The PNC Financial Services Group declared a quarterly dividend of $1.70 per share, with the ex-dividend date set for October 14th.
• Analysts have set a consensus price target of $216.56 for PNC stock, with ratings ranging from "Strong Buy" to "Sell" from various brokerages.

Greenwood Capital Associates LLC reduced its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 29.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,685 shares of the financial services provider's stock after selling 3,585 shares during the quarter. Greenwood Capital Associates LLC's holdings in The PNC Financial Services Group were worth $1,619,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of PNC. 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 valued at $6,673,217,000 after acquiring an additional 248,252 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of The PNC Financial Services Group by 26.1% during 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 purchasing an additional 1,964,157 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of 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 valued at $844,967,000 after purchasing an additional 24,588 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of 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 valued at $713,063,000 after purchasing an additional 186,249 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of The PNC Financial Services Group by 41.8% in 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 during the last quarter. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $198.17 on Friday. The firm has a market capitalization of $78.04 billion, a PE ratio of 13.55, a PEG ratio of 1.46 and a beta of 1.10. The stock's fifty day moving average is $198.61 and its 200 day moving average is $182.79. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. 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 posted its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, topping the consensus estimate of $3.56 by $0.29. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The company had revenue of $3.01 billion during the quarter, compared to analyst estimates of $5.61 billion. During the same period in the previous year, the firm earned $3.39 earnings per share. The PNC Financial Services Group's quarterly revenue was up 4.6% compared to the same quarter last year. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.4%. The ex-dividend date is Tuesday, October 14th. The PNC Financial Services Group's dividend payout ratio is presently 46.51%.

Analysts Set New Price Targets

A number of brokerages recently commented on PNC. Evercore ISI increased their price target on The PNC Financial Services Group from $220.00 to $230.00 and gave the company an "outperform" rating in a research note on Tuesday. Morgan Stanley upped their price objective on The PNC Financial Services Group from $186.00 to $206.00 and gave the stock an "underweight" rating in a report on Monday. Oppenheimer lowered 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 research report on Tuesday, September 23rd. Piper Sandler boosted their price target on shares of The PNC Financial Services Group from $200.00 to $211.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 10th. Finally, Wolfe Research reaffirmed a "peer perform" rating on shares of The PNC Financial Services Group in a research note on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $216.56.

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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