Park National Corp OH Has $4.75 Million Stock Position in The PNC Financial Services Group, Inc $PNC

Key Points

• Park National Corp OH reduced its stake in The PNC Financial Services Group by 8.4% during Q2, now holding 25,452 shares valued at approximately $4.75 million.
• The PNC Financial Services Group reported $3.85 earnings per share (EPS) for the last quarter, exceeding estimates by $0.29, alongside a revenue of $3.01 billion.
• The company recently increased its quarterly dividend to $1.70 per share, marking a rise from the previous $1.60 and reflecting a 3.4% yield.

Park National Corp OH reduced its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 8.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,452 shares of the financial services provider's stock after selling 2,323 shares during the quarter. Park National Corp OH's holdings in The PNC Financial Services Group were worth $4,745,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Kera Capital Partners Inc. purchased a new stake in shares of The PNC Financial Services Group in the second quarter valued at about $591,000. AG2R LA Mondiale Gestion D Actifs purchased a new position in shares of The PNC Financial Services Group during the first quarter valued at approximately $2,580,000. Swedbank AB lifted its stake in shares of The PNC Financial Services Group by 1.2% during the first quarter. Swedbank AB now owns 212,796 shares of the financial services provider's stock valued at $37,403,000 after buying an additional 2,549 shares during the period. 1248 Management LLC lifted its stake in shares of The PNC Financial Services Group by 155.5% during the first quarter. 1248 Management LLC now owns 12,985 shares of the financial services provider's stock valued at $2,282,000 after buying an additional 7,902 shares during the period. Finally, Modern Wealth Management LLC boosted its holdings in shares of The PNC Financial Services Group by 19.2% in the 1st quarter. Modern Wealth Management LLC now owns 4,634 shares of the financial services provider's stock valued at $815,000 after purchasing an additional 746 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of research reports. Citigroup raised their target price on shares of The PNC Financial Services Group from $205.00 to $217.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Raymond James Financial raised shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 target price for the company in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods raised shares of The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and boosted their target price for the stock from $185.00 to $212.00 in a research report on Wednesday, July 9th. Wolfe Research reaffirmed a "peer perform" rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. Finally, Stephens reissued 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, September 10th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $213.67.

The PNC Financial Services Group Trading Up 0.4%

Shares of PNC stock traded up $0.72 during trading hours on Monday, reaching $202.70. 1,464,299 shares of the stock traded hands, compared to its average volume of 1,509,861. The PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-year high of $216.26. The business has a fifty day moving average price of $197.01 and a 200 day moving average price of $180.50. 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 firm has a market capitalization of $79.82 billion, a PE ratio of 13.86, a PEG ratio of 1.49 and a beta of 1.11.

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 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 company had revenue of $3.01 billion during the quarter, compared to analyst estimates of $5.61 billion. During the same quarter last year, the business posted $3.39 EPS. The company's revenue for the quarter was up 4.6% on a year-over-year basis. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, equities research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS 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. Shareholders of record on Tuesday, July 15th were paid a $1.70 dividend. 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 ex-dividend date was Tuesday, July 15th. The PNC Financial Services Group's dividend payout ratio is presently 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.