Heartland Advisors Inc. Sells 30,498 Shares of The PNC Financial Services Group, Inc $PNC

Key Points

• Heartland Advisors Inc. cut its PNC position by 44.2% in the first quarter, selling 30,498 shares and leaving it with 38,460 shares worth about $8.0 million.
• PNC reported strong quarterly results, beating analyst expectations on both earnings and revenue, with EPS of $4.85 and revenue of $6.66 billion. Revenue rose 21.4% year over year, and management also raised its outlook for loan growth and net interest income.
• The company increased its dividend to $2.00 per share quarterly, or $8.00 annually, implying a 3.2% yield. Meanwhile, several analysts raised price targets after the earnings release, with the consensus rating remaining a “Moderate Buy.”

Heartland Advisors Inc. trimmed its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 44.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,460 shares of the financial services provider's stock after selling 30,498 shares during the period. Heartland Advisors Inc.'s holdings in The PNC Financial Services Group were worth $8,003,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PNC. Monetary Solutions Ltd acquired a new stake in The PNC Financial Services Group during the 4th quarter worth $25,000. Quarry LP bought a new stake in shares of The PNC Financial Services Group in the third quarter worth about $25,000. Modus Advisors LLC bought a new stake in shares of The PNC Financial Services Group in the fourth quarter worth about $29,000. Financial Life Planners bought a new position in shares of The PNC Financial Services Group during the 1st quarter valued at about $31,000. Finally, Kemnay Advisory Services Inc. bought a new position in shares of The PNC Financial Services Group during the 4th quarter valued at about $32,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $252.88 on Friday. The stock has a market capitalization of $101.55 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 1.02 and a beta of 0.91. The business has a 50-day moving average of $233.18 and a 200-day moving average of $223.46. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.85 and a quick ratio of 0.82. The PNC Financial Services Group, Inc has a fifty-two week low of $176.88 and a fifty-two week high of $256.49.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.46 by $0.39. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The business had revenue of $6.66 billion for the quarter, compared to analyst estimates of $6.51 billion. During the same quarter in the prior year, the company posted $3.85 earnings per share. The PNC Financial Services Group's revenue was up 21.4% on a year-over-year basis. As a group, sell-side analysts predict that The PNC Financial Services Group, Inc will post 19.14 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th will be paid a dividend of $2.00 per share. The ex-dividend date is Monday, July 20th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.2%. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.70. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 37.42%.

The PNC Financial Services Group News Summary

Here are the key news stories impacting The PNC Financial Services Group this week:

• Positive Sentiment: PNC reported strong second-quarter results, topping forecasts on earnings and revenue as capital markets strength helped drive growth. The company also highlighted a record dividend and improving business momentum. PNC Financial tops second-quarter forecasts as capital markets business drives growth
• Positive Sentiment: Management raised its 2026 outlook, forecasting about 12.5% loan growth, net interest income growth of 15% to 15.5%, and a net interest margin above 3% by year-end, which suggests improving fundamentals ahead. PNC forecasts 2026 loan growth of ~12.5% and net interest income up 15%-15.5%
• Positive Sentiment: Multiple analysts lifted price targets on PNC after the earnings release, including Truist, Argus, RBC, Oppenheimer, Wells Fargo, Barclays, Stephens, and Baird, with several firms also maintaining bullish ratings such as outperform and overweight. Analyst price target updates
• Neutral Sentiment: Truist raised its target to $264 but kept a hold rating, implying the stock may be fairly valued after the recent run-up. PNC price target raised to $264 at Truist Financial
• Neutral Sentiment: One recent commentary piece argued that PNC looks “fairly valued,” which may temper enthusiasm even after the earnings beat and analyst upgrades. PNC Financial: Likely Fairly Valued
• Negative Sentiment: PNC also noted that costs are expected to rise alongside revenue, which could pressure margins if expense growth outpaces top-line gains. PNC is latest bank to say costs will rise alongside revenue

Analysts Set New Price Targets

PNC has been the subject of a number of research reports. UBS Group increased their target price on The PNC Financial Services Group from $263.00 to $288.00 and gave the stock a "buy" rating in a research note on Tuesday, July 7th. Wells Fargo & Company increased their target price on The PNC Financial Services Group from $270.00 to $285.00 and gave the stock an "overweight" rating in a report on Thursday. Barclays boosted their price target on The PNC Financial Services Group from $277.00 to $284.00 and gave the company an "overweight" rating in a report on Thursday. Robert W. Baird upped their price objective on The PNC Financial Services Group from $250.00 to $280.00 and gave the stock an "outperform" rating in a research report on Thursday. Finally, Royal Bank Of Canada upped their price target on The PNC Financial Services Group from $235.00 to $273.00 and gave the stock an "outperform" rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $264.97.

Insider Activity

In other news, EVP Stephanie Novosel sold 1,800 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the sale, the executive vice president owned 3,107 shares of the company's stock, valued at approximately $710,664.11. This represents a 36.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael Duane Thomas sold 1,500 shares of the business's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $238.14, for a total transaction of $357,210.00. Following the transaction, the executive vice president owned 5,059 shares in the company, valued at approximately $1,204,750.26. The trade was a 22.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 48,300 shares of company stock valued at $10,694,574. 0.38% of the stock is owned by insiders.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC's core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.

Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The PNC Financial Services Group, Inc (NYSE:PNC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.