Merit Financial Group LLC Increases Stake in The PNC Financial Services Group, Inc $PNC

Key Points

• Merit Financial Group LLC significantly increased its stake in The PNC Financial Services Group by 153.0% in Q2, now owning 44,925 shares valued at approximately $8.37 million.
• Analysts have raised PNC's target price, with Raymond James increasing it from $220.00 to $225.00 and Citigroup adjusting it from $217.00 to $230.00, indicating strong market confidence.
• The PNC Financial Services Group announced a $1.70 quarterly dividend, representing a 3.4% yield, with the ex-dividend date set for October 14th.

Merit Financial Group LLC increased its holdings in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 153.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,925 shares of the financial services provider's stock after acquiring an additional 27,165 shares during the quarter. Merit Financial Group LLC's holdings in The PNC Financial Services Group were worth $8,375,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PNC. Ignite Planners LLC raised its stake in The PNC Financial Services Group by 8.4% in the first quarter. Ignite Planners LLC now owns 1,628 shares of the financial services provider's stock worth $262,000 after buying an additional 126 shares in the last quarter. Exane Asset Management increased its holdings in shares of The PNC Financial Services Group by 32.9% in the 1st quarter. Exane Asset Management now owns 149,783 shares of the financial services provider's stock valued at $28,434,000 after acquiring an additional 37,110 shares during the period. Smith Salley Wealth Management raised its position in shares of The PNC Financial Services Group by 15.6% in the 1st quarter. Smith Salley Wealth Management now owns 72,844 shares of the financial services provider's stock worth $12,804,000 after acquiring an additional 9,836 shares in the last quarter. United Community Bank lifted its stake in shares of The PNC Financial Services Group by 687.0% during the 1st quarter. United Community Bank now owns 12,325 shares of the financial services provider's stock worth $2,166,000 after purchasing an additional 10,759 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC boosted its position in The PNC Financial Services Group by 4.5% during the first quarter. Kingswood Wealth Advisors LLC now owns 2,802 shares of the financial services provider's stock valued at $493,000 after purchasing an additional 120 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on PNC. Raymond James Financial boosted their target price on shares of The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an "outperform" rating in a report on Friday, September 19th. Wolfe Research reiterated a "peer perform" rating on shares of The PNC Financial Services Group in a research note on Thursday, July 3rd. Evercore ISI increased their target price on shares of The PNC Financial Services Group from $220.00 to $230.00 and gave the company an "outperform" rating in a research report on Tuesday, September 30th. Citigroup lifted their price target on shares of The PNC Financial Services Group from $217.00 to $230.00 and gave the stock a "buy" rating in a report on Tuesday, September 23rd. Finally, Piper Sandler increased their price objective on The PNC Financial Services Group from $200.00 to $211.00 and gave the company a "neutral" rating in a report on Wednesday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of "Moderate Buy" and an average price target of $217.11.

The PNC Financial Services Group Trading Up 0.2%

NYSE PNC opened at $198.54 on Monday. The company has a fifty day simple moving average of $198.66 and a two-hundred day simple moving average of $183.09. The stock has a market cap of $78.19 billion, a P/E ratio of 13.58, a P/E/G ratio of 1.46 and a beta of 1.10. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month 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 announced 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 net margin of 18.33% and a return on equity of 11.07%. The firm had revenue of $3.01 billion for the quarter, compared to analyst estimates of $5.61 billion. During the same period in the previous year, the company earned $3.39 earnings per share. The business'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, analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

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

The PNC Financial Services Group Company 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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