The PNC Financial Services Group, Inc $PNC Shares Sold by PDT Partners LLC

Key Points

• PDT Partners LLC has reduced its stake in The PNC Financial Services Group by 27.6%, now holding 18,094 shares valued at approximately $3.18 million after selling 6,909 shares.
• The PNC Financial Services Group announced an increase in its quarterly dividend to $1.70 per share, reflecting a positive change from the previous $1.60, with a dividend yield of 3.3%.
• Several analysts have recently adjusted their price targets for The PNC Financial Services Group, with Bank of America raising its target to $226.00 and Morgan Stanley setting it at $186.00, indicating varied market sentiments.

PDT Partners LLC trimmed its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 27.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,094 shares of the financial services provider's stock after selling 6,909 shares during the period. PDT Partners LLC's holdings in The PNC Financial Services Group were worth $3,180,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Saudi Central Bank acquired a new position in shares of The PNC Financial Services Group during the 1st quarter worth approximately $27,000. Cornerstone Planning Group LLC raised its position in shares of The PNC Financial Services Group by 50.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock worth $34,000 after purchasing an additional 65 shares during the last quarter. REAP Financial Group LLC raised its position in shares of The PNC Financial Services Group by 67.2% during the 4th quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider's stock worth $38,000 after purchasing an additional 80 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of The PNC Financial Services Group during the 1st quarter worth approximately $35,000. Finally, WPG Advisers LLC acquired a new position in shares of The PNC Financial Services Group during the 1st quarter worth approximately $36,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on PNC shares. Oppenheimer upgraded The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $238.00 price objective for the company in a research report on Wednesday, July 30th. Wall Street Zen upgraded The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Morgan Stanley boosted their price target on The PNC Financial Services Group from $179.00 to $186.00 and gave the company an "underweight" rating in a report on Thursday, July 17th. Bank of America boosted their price target on The PNC Financial Services Group from $223.00 to $226.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Finally, Raymond James Financial upgraded The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 price target for the company in a report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $214.17.

The PNC Financial Services Group Trading Down 1.4%

Shares of NYSE PNC traded down $2.85 during trading on Friday, hitting $204.51. 1,272,975 shares of the company traded hands, compared to its average volume of 1,494,110. 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 50-day moving average price of $195.96 and a 200-day moving average price of $180.08. The firm has a market capitalization of $80.54 billion, a P/E ratio of 13.99, a P/E/G ratio of 1.53 and a beta of 1.11. 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 announced its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $5.61 billion. During the same period in the previous year, the company earned $3.39 EPS. The business's quarterly 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, equities analysts predict 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 $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, July 15th. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.60. The PNC Financial Services Group's dividend 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.