Patton Fund Management Inc. Invests $259,000 in The PNC Financial Services Group, Inc $PNC

Key Points

• Patton Fund Management Inc. has invested approximately $259,000 in The PNC Financial Services Group by acquiring 1,389 shares in the 2nd quarter, marking a significant addition to its portfolio.
• Several hedge funds have raised their positions in PNC, with notable increases including a 687.0% growth from United Community Bank, indicating strong institutional interest in the company.
• The PNC Financial Services Group has recently increased its quarterly dividend to $1.70 per share, reflecting a healthy annual yield of 3.3% and a positive payout ratio of 46.51%.

Patton Fund Management Inc. acquired a new stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,389 shares of the financial services provider's stock, valued at approximately $259,000.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wolfe Research restated a "peer perform" rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. Truist Financial lifted their target price on shares of The PNC Financial Services Group from $201.00 to $210.00 and gave the company a "hold" rating in a research note on Wednesday. Raymond James Financial lifted 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 report on Friday, September 19th. Wall Street Zen raised shares of The PNC Financial Services Group from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Finally, Piper Sandler upped their price target on shares of The PNC Financial Services Group from $200.00 to $211.00 and gave the stock a "neutral" rating in a report on Wednesday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $215.17.

The PNC Financial Services Group Stock Up 0.3%

PNC opened at $203.30 on Friday. The company has a market cap of $80.06 billion, a P/E ratio of 13.91, a P/E/G ratio of 1.50 and a beta of 1.11. The business's 50-day moving average price is $198.37 and its 200-day moving average price is $182.09. 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, Inc has a 12 month low of $145.12 and a 12 month high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings results 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 company had revenue of $3.01 billion during the quarter, compared to the consensus estimate 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 PNC Financial Services Group's revenue was up 4.6% on a year-over-year basis. During the same period 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. On average, equities analysts expect 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 disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Shareholders 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 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 (DPR) is presently 46.51%.

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.

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