Quarry LP Has $709,000 Stock Holdings in The PNC Financial Services Group, Inc $PNC

Key Points

• Quarry LP significantly increased its stake in The PNC Financial Services Group, raising its holdings by 1,692.9% to a total value of $709,000 during the first quarter of the year.
• The company recently announced an increase in its quarterly dividend from $1.60 to $1.70, marking an annualized dividend of $6.80 and a yield of 3.3%.
• Analysts have upgraded their ratings for PNC Financial Services Group, with a consensus target price of $214.17, reflecting a Moderate Buy sentiment among market participants.

Quarry LP raised its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 1,692.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,034 shares of the financial services provider's stock after purchasing an additional 3,809 shares during the period. Quarry LP's holdings in The PNC Financial Services Group were worth $709,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PNC. Saudi Central Bank bought a new stake in The PNC Financial Services Group in the first quarter worth $27,000. Cornerstone Planning Group LLC increased its stake in 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 valued at $34,000 after purchasing an additional 65 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of The PNC Financial Services Group during the 1st quarter valued at about $35,000. WPG Advisers LLC bought a new position in The PNC Financial Services Group in the first quarter valued at about $36,000. Finally, REAP Financial Group LLC boosted its stake 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 acquiring an additional 80 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PNC shares. Bank of America boosted their price objective on The PNC Financial Services Group from $223.00 to $226.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Wolfe Research restated a "peer perform" rating on shares of The PNC Financial Services Group in a research note on Thursday, July 3rd. Oppenheimer raised shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $238.00 price target on the stock in a report on Wednesday, July 30th. Citigroup lifted their price objective on 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. Finally, Keefe, Bruyette & Woods raised The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and lifted their price target for the stock from $185.00 to $212.00 in a research note on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $214.17.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock traded down $0.42 on Wednesday, hitting $205.00. The company's stock had a trading volume of 1,827,746 shares, compared to its average volume of 1,465,881. The firm has a fifty day moving average price of $194.71 and a 200-day moving average price of $179.76. The company has a market capitalization of $80.73 billion, a P/E ratio of 14.19, a price-to-earnings-growth 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, Inc has a 52-week low of $145.12 and a 52-week 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 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 analysts' expectations of $5.61 billion. The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%.The business's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $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 research analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal 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 paid a dividend of $1.70 per share. The ex-dividend date was Tuesday, July 15th. 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 yield of 3.3%. The PNC Financial Services Group's payout ratio is currently 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.