1,819 Shares in The PNC Financial Services Group, Inc $PNC Acquired by MBB Public Markets I LLC

Key Points

• MBB Public Markets I LLC acquired 1,819 shares of The PNC Financial Services Group, valued at approximately $320,000, according to a recent SEC filing.
• The PNC Financial Services Group recently increased its quarterly dividend from $1.60 to $1.70 per share, representing an annualized dividend of $6.80 with a dividend yield of 3.4%.
• Analysts have upgraded PNC’s stock ratings, with target prices ranging from $186.00 to $220.00, indicating a general consensus rating of "Moderate Buy" and an average price target of $214.17.

MBB Public Markets I LLC acquired a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,819 shares of the financial services provider's stock, valued at approximately $320,000.

Other hedge funds also recently made changes to their positions in the company. 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 purchasing 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 purchasing 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 purchasing 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 purchasing an additional 186,249 shares during the period. Finally, Royal Bank of Canada grew its stake in The PNC Financial Services Group by 5.3% during the fourth quarter. Royal Bank of Canada now owns 3,573,162 shares of the financial services provider's stock worth $689,084,000 after purchasing an additional 179,760 shares during the period. 83.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on PNC shares. Stephens reaffirmed an "equal weight" rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research note on Wednesday. Keefe, Bruyette & Woods raised The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and raised their target price for the stock from $185.00 to $212.00 in a research note on Wednesday, July 9th. Bank of America raised their target price on The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Truist Financial raised their price objective on The PNC Financial Services Group from $189.00 to $198.00 and gave the company a "hold" rating in a research note on Wednesday, July 9th. Finally, Wall Street Zen raised The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. One equities 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 given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $213.67.

The PNC Financial Services Group Stock Performance

Shares of PNC traded down $0.60 during mid-day trading on Friday, hitting $202.15. The stock had a trading volume of 1,015,305 shares, compared to its average volume of 1,524,116. The firm has a market cap of $79.61 billion, a P/E ratio of 13.83, a PEG ratio of 1.50 and a beta of 1.11. The business has a fifty day moving average price of $196.88 and a 200-day moving average price of $180.52. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.80 and a quick ratio of 0.80. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $216.26.

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 (EPS) for the quarter, beating the consensus estimate of $3.56 by $0.29. The firm had revenue of $3.01 billion for the quarter, compared to analyst estimates of $5.61 billion. The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%.The business's revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $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, 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 announced a quarterly dividend, which was paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th were paid a $1.70 dividend. The ex-dividend date was Tuesday, July 15th. This represents a $6.80 dividend on an annualized basis and a yield of 3.4%. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.60. 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.