Jacobi Capital Management LLC Raises Stake in The PNC Financial Services Group, Inc $PNC

Key Points

• Jacobi Capital Management LLC increased its stake in The PNC Financial Services Group by 6.6%, bringing its total holdings to 28,310 shares valued at approximately $4.976 million.
• The PNC Financial Services Group's stock recently reported a quarterly earnings per share (EPS) of $3.85, surpassing analysts' expectations by $0.29, with revenues increasing by 4.6% year-over-year.
• PNC announced a dividend increase to $1.70 per share, resulting in an annual yield of 3.4%, while its dividend payout ratio stands at 46.51%.

Jacobi Capital Management LLC boosted its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 6.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 28,310 shares of the financial services provider's stock after purchasing an additional 1,759 shares during the period. Jacobi Capital Management LLC's holdings in The PNC Financial Services Group were worth $4,976,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Kestra Investment Management LLC boosted its holdings in shares of The PNC Financial Services Group by 11.4% in the first quarter. Kestra Investment Management LLC now owns 566 shares of the financial services provider's stock valued at $99,000 after acquiring an additional 58 shares in the last quarter. PKS Advisory Services LLC boosted its holdings in shares of The PNC Financial Services Group by 3.2% in the first quarter. PKS Advisory Services LLC now owns 1,910 shares of the financial services provider's stock valued at $332,000 after acquiring an additional 60 shares in the last quarter. Cornerstone Planning Group LLC boosted its holdings in shares of 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 valued at $34,000 after acquiring an additional 65 shares in the last quarter. WealthPLAN Partners LLC boosted its holdings in shares of The PNC Financial Services Group by 0.5% in the first 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. Finally, Calton & Associates Inc. boosted its holdings in shares of The PNC Financial Services Group by 1.8% in the first quarter. Calton & Associates Inc. now owns 3,666 shares of the financial services provider's stock valued at $644,000 after acquiring an additional 66 shares in the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Up 0.7%

PNC stock opened at $201.89 on Thursday. The company has a market cap of $79.51 billion, a P/E ratio of 13.81, a P/E/G ratio of 1.48 and a beta of 1.11. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $216.26. The company's 50-day moving average price is $196.59 and its 200 day moving average price is $180.30. 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 released its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, topping analysts' consensus estimates of $3.56 by $0.29. The firm had revenue of $3.01 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.39 earnings per share. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, research analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share 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 given a dividend of $1.70 per share. The ex-dividend date was Tuesday, July 15th. This is an increase 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 3.4%. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 46.51%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PNC. Truist Financial lifted their target price on shares of The PNC Financial Services Group from $189.00 to $198.00 and gave the company a "hold" rating in a report on Wednesday, July 9th. The Goldman Sachs Group lifted their target price on shares of The PNC Financial Services Group from $178.00 to $196.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. TD Cowen began coverage on shares of The PNC Financial Services Group in a report on Thursday, May 15th. They issued a "buy" rating and a $233.00 target price on the stock. Raymond James Financial raised shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 target price on the stock in a report on Tuesday, July 8th. Finally, Morgan Stanley lifted their target price on shares of The PNC Financial Services Group from $179.00 to $186.00 and gave the company an "underweight" rating in a report on Thursday, July 17th. One investment 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $213.67.

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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