Nearwater Capital Markets Ltd Purchases Shares of 75,000 The PNC Financial Services Group, Inc $PNC

Key Points

• Nearwater Capital Markets Ltd has made a significant investment in The PNC Financial Services Group, acquiring 75,000 shares valued at approximately $13.2 million.
• The PNC Financial Services Group recently increased its quarterly dividend from $1.60 to $1.70 per share, resulting in an annualized dividend yield of 3.3%.
• Analysts have revised their price targets for PNC, with Bank of America setting a new target of $226.00 and Oppenheimer raising their target to $238.00, reflecting positive sentiments in recent research reports.

Nearwater Capital Markets Ltd acquired a new stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 75,000 shares of the financial services provider's stock, valued at approximately $13,183,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Ignite Planners LLC grew 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 valued at $262,000 after purchasing an additional 126 shares during the last quarter. Exane Asset Management grew its stake in The PNC Financial Services Group by 32.9% in the first quarter. Exane Asset Management now owns 149,783 shares of the financial services provider's stock valued at $28,434,000 after purchasing an additional 37,110 shares during the last quarter. Smith Salley Wealth Management grew its stake in The PNC Financial Services Group by 15.6% in the first quarter. Smith Salley Wealth Management now owns 72,844 shares of the financial services provider's stock valued at $12,804,000 after purchasing an additional 9,836 shares during the last quarter. United Community Bank grew its stake in The PNC Financial Services Group by 687.0% in the first quarter. United Community Bank now owns 12,325 shares of the financial services provider's stock valued at $2,166,000 after purchasing an additional 10,759 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC grew its stake in The PNC Financial Services Group by 4.5% in 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 during the last quarter. 83.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PNC. Wall Street Zen upgraded The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Stephens reiterated an "equal weight" rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research note on Wednesday. The Goldman Sachs Group lifted their target price 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. Morgan Stanley boosted their price target on The PNC Financial Services Group from $179.00 to $186.00 and gave the stock an "underweight" rating in a research note on Thursday, July 17th. Finally, Citigroup boosted their price target on The PNC Financial Services Group from $205.00 to $217.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. One 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 assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $213.67.

The PNC Financial Services Group Stock Performance

NYSE PNC traded up $1.63 during trading hours on Wednesday, reaching $202.04. The stock had a trading volume of 599,726 shares, compared to its average volume of 2,269,804. The stock has a fifty day moving average of $196.46 and a 200 day moving average of $180.15. The stock has a market cap of $79.57 billion, a P/E ratio of 13.82, a price-to-earnings-growth ratio of 1.51 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 has a debt-to-equity ratio of 0.99, a quick ratio of 0.80 and a current ratio of 0.80.

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 EPS for the quarter, beating analysts' consensus estimates 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 PNC Financial Services Group's revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior 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. Sell-side analysts predict that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th were given a $1.70 dividend. 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 ex-dividend date was Tuesday, July 15th. The PNC Financial Services Group's payout ratio is currently 46.51%.

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.