The PNC Financial Services Group, Inc $PNC Shares Bought by Harvest Portfolios Group Inc.

Key Points

• Harvest Portfolios Group Inc. increased its stake in The PNC Financial Services Group by 16.6% in Q1, bringing its total position to approximately $6.27 million.
• The PNC Financial Services Group reported $3.85 EPS for the latest quarter, exceeding estimates, and had a revenue of $3.01 billion, marking a 4.6% year-over-year increase.
• Analysts have raised price targets for The PNC Financial Services Group, with Oppenheimer setting a target of $238.00, reflecting strong market confidence in the company.

Harvest Portfolios Group Inc. increased its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 16.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,657 shares of the financial services provider's stock after purchasing an additional 5,064 shares during the quarter. Harvest Portfolios Group Inc.'s holdings in The PNC Financial Services Group were worth $6,267,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. True Wealth Design LLC grew its position in The PNC Financial Services Group by 41.5% in the 4th quarter. True Wealth Design LLC now owns 201 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 59 shares in the last quarter. Cornerstone Planning Group LLC grew its position in The PNC Financial Services Group by 50.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 65 shares in the last quarter. WealthPLAN Partners LLC grew its position in The PNC Financial Services Group by 0.5% in the 1st quarter. WealthPLAN Partners LLC now owns 12,629 shares of the financial services provider's stock valued at $2,220,000 after acquiring an additional 66 shares in the last quarter. Y.D. More Investments Ltd grew its position in The PNC Financial Services Group by 13.8% in the 1st quarter. Y.D. More Investments Ltd now owns 559 shares of the financial services provider's stock valued at $98,000 after acquiring an additional 68 shares in the last quarter. Finally, Spire Wealth Management grew its position in The PNC Financial Services Group by 2.2% in the 1st quarter. Spire Wealth Management now owns 3,257 shares of the financial services provider's stock valued at $573,000 after acquiring an additional 69 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PNC has been the subject of several research reports. Truist Financial lifted their target price on The PNC Financial Services Group from $189.00 to $198.00 and gave the company a "hold" rating in a research report on Wednesday, July 9th. The Goldman Sachs Group lifted their price objective on The PNC Financial Services Group from $178.00 to $196.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Citigroup lifted their price objective on The PNC Financial Services Group from $205.00 to $217.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Wolfe Research reiterated a "peer perform" rating on shares of The PNC Financial Services Group in a research note on Thursday, July 3rd. Finally, TD Cowen began coverage on The PNC Financial Services Group in a research note on Thursday, May 15th. They issued a "buy" rating and a $233.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $214.17.

The PNC Financial Services Group Stock Up 1.0%

PNC stock traded up $2.09 during trading on Friday, hitting $207.71. 2,045,627 shares of the company's stock were exchanged, compared to its average volume of 1,574,998. The business has a 50-day moving average price of $193.71 and a two-hundred day moving average price of $179.59. The stock has a market capitalization of $81.80 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 1.53 and a beta of 1.09. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $216.26. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.99.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share for the quarter, beating 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 company had revenue of $3.01 billion during the quarter, compared to analysts' expectations of $5.61 billion. During the same quarter in the previous year, the business earned $3.39 earnings per share. The firm's revenue for the quarter 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. As a group, equities 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th were issued a dividend of $1.70 per share. This is a boost 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 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%.

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.