Oak Harvest Investment Services Makes New Investment in The PNC Financial Services Group, Inc $PNC

Key Points

• Oak Harvest Investment Services acquired a new position in The PNC Financial Services Group, purchasing 59,761 shares valued at approximately $10.5 million, making PNC its 19th largest holding.
• The PNC Financial Services Group recently reported earnings of $3.85 per share, exceeding estimates by $0.29, alongside a 4.6% year-over-year increase in revenue.
• The company raised its quarterly dividend from $1.60 to $1.70 per share, representing a dividend yield of 3.4% and a payout ratio of 46.51%.

Oak Harvest Investment Services purchased a new stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 59,761 shares of the financial services provider's stock, valued at approximately $10,504,000. The PNC Financial Services Group accounts for 1.5% of Oak Harvest Investment Services' portfolio, making the stock its 19th largest position.

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in The PNC Financial Services Group by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 37,965,619 shares of the financial services provider's stock valued at $6,673,217,000 after acquiring an additional 248,252 shares during the period. Massachusetts Financial Services Co. MA raised its stake in The PNC Financial Services Group by 26.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,502,467 shares of the financial services provider's stock valued at $1,670,249,000 after acquiring an additional 1,964,157 shares during the period. Ameriprise Financial Inc. raised its stake in The PNC Financial Services Group by 0.5% in the 1st quarter. Ameriprise Financial Inc. now owns 4,807,684 shares of the financial services provider's stock valued at $844,967,000 after acquiring an additional 24,588 shares during the period. Northern Trust Corp raised its stake in The PNC Financial Services Group by 14.9% in the 4th quarter. Northern Trust Corp now owns 4,695,514 shares of the financial services provider's stock valued at $905,530,000 after acquiring an additional 608,375 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in The PNC Financial Services Group by 4.8% in the 1st quarter. Bank of New York Mellon Corp now owns 4,056,797 shares of the financial services provider's stock valued at $713,063,000 after acquiring an additional 186,249 shares during the period. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Trading Up 1.4%

Shares of PNC stock traded up $2.86 during mid-day trading on Wednesday, reaching $206.32. 1,762,604 shares of the stock traded hands, compared to its average volume of 1,551,390. The stock's fifty day simple moving average is $191.87 and its two-hundred day simple moving average is $179.40. The PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-year high of $216.26. The company has a market cap of $81.25 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 1.51 and a beta of 1.09. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.99.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.56 by $0.29. The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%.The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $5.61 billion. During the same period last year, the company earned $3.39 earnings per share. The firm's 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, research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.3%. This is a positive change from The PNC Financial Services Group's previous quarterly dividend of $1.60. The ex-dividend date was Tuesday, July 15th. The PNC Financial Services Group's dividend payout ratio is 46.51%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Bank of America increased their price objective on The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Keefe, Bruyette & Woods raised The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and increased their target price for the stock from $185.00 to $212.00 in a report on Wednesday, July 9th. Raymond James Financial raised 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. TD Cowen initiated coverage on The PNC Financial Services Group in a report on Thursday, May 15th. They set a "buy" rating and a $233.00 target price on the stock. Finally, Morgan Stanley increased their target price on The PNC Financial Services Group from $179.00 to $186.00 and gave the stock an "underweight" rating in a report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, The PNC Financial Services Group currently has an average rating of "Moderate Buy" and a consensus target price of $214.17.

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.