Old Port Advisors Reduces Stake in The PNC Financial Services Group, Inc $PNC

Key Points

• Old Port Advisors has reduced its stake in The PNC Financial Services Group by 23.0%, now holding 8,899 shares worth approximately $1,659,000.
• The company recently increased its quarterly dividend from $1.60 to $1.70, representing an annualized dividend of $6.80 and a dividend yield of 3.3%.
• Analysts maintain a consensus rating of "Moderate Buy" for PNC, with a target price of $215.17 following several price upgrades by major financial institutions.

Old Port Advisors lowered its stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 23.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,899 shares of the financial services provider's stock after selling 2,662 shares during the quarter. Old Port Advisors' holdings in The PNC Financial Services Group were worth $1,659,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Saudi Central Bank purchased a new position in The PNC Financial Services Group during the first quarter valued at approximately $27,000. Cornerstone Planning Group LLC boosted its holdings in The PNC Financial Services Group by 50.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 65 shares during the period. Opal Wealth Advisors LLC bought a new position in The PNC Financial Services Group in the 1st quarter valued at $35,000. WPG Advisers LLC purchased a new position in shares of The PNC Financial Services Group during the 1st quarter valued at $36,000. Finally, Fourth Dimension Wealth LLC bought a new position in shares of The PNC Financial Services Group in the first quarter worth $41,000. 83.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PNC shares. The Goldman Sachs Group lifted their price objective 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 lifted their price target on The PNC Financial Services Group from $179.00 to $186.00 and gave the company an "underweight" rating in a research report on Thursday, July 17th. Citigroup upped their price objective on shares of The PNC Financial Services Group from $217.00 to $230.00 and gave the stock a "buy" rating in a research report on Tuesday. Stephens reiterated an "equal weight" rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday, September 10th. Finally, Raymond James Financial boosted their price target on shares of The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an "outperform" rating in a research note on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, The PNC Financial Services Group has a consensus rating of "Moderate Buy" and a consensus target price of $215.17.

The PNC Financial Services Group Stock Up 0.3%

Shares of NYSE PNC opened at $203.30 on Friday. The stock has a market capitalization of $80.06 billion, a P/E ratio of 13.91, a PEG ratio of 1.50 and a beta of 1.11. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26. The firm's 50 day simple moving average is $198.37 and its two-hundred day simple moving average is $182.01. 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 (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 (EPS) for the quarter, beating analysts' consensus estimates of $3.56 by $0.29. The company had revenue of $3.01 billion during the quarter, compared to analysts' expectations 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 prior year, the company earned $3.39 EPS. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, analysts expect 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 issued 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 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Tuesday, July 15th. 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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