Rhino Investment Partners Inc Has $4.93 Million Stake in The PNC Financial Services Group, Inc $PNC

Key Points

• Rhino Investment Partners Inc reduced its position in The PNC Financial Services Group by 6.7%, holding 28,045 shares worth approximately $4.93 million after a sale of 2,000 shares in the first quarter.
• The PNC Financial Services Group recently increased its quarterly dividend to $1.70 per share, reflecting an annualized payout of $6.80 and a yield of 3.5%.
• Analysts have raised their target prices for PNC, with Keefe, Bruyette & Woods upgrading it to a "market perform" and Citigroup establishing a target price of $217.00, reflecting a generally favorable outlook.

Rhino Investment Partners Inc trimmed its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 6.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,045 shares of the financial services provider's stock after selling 2,000 shares during the period. The PNC Financial Services Group makes up about 1.2% of Rhino Investment Partners Inc's investment portfolio, making the stock its 27th biggest position. Rhino Investment Partners Inc's holdings in The PNC Financial Services Group were worth $4,929,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of PNC. Vanguard Group Inc. lifted its holdings in The PNC Financial Services Group by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 37,965,619 shares of the financial services provider's stock worth $6,673,217,000 after buying an additional 248,252 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in The PNC Financial Services Group by 26.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,502,467 shares of the financial services provider's stock worth $1,670,249,000 after purchasing an additional 1,964,157 shares during the period. Northern Trust Corp lifted its position in The PNC Financial Services Group by 14.9% during the 4th quarter. Northern Trust Corp now owns 4,695,514 shares of the financial services provider's stock valued at $905,530,000 after purchasing an additional 608,375 shares during the period. Bank of New York Mellon Corp grew its position in shares of The PNC Financial Services Group by 4.8% during the 1st quarter. Bank of New York Mellon Corp now owns 4,056,797 shares of the financial services provider's stock worth $713,063,000 after buying an additional 186,249 shares during the period. Finally, Royal Bank of Canada raised its stake in shares of The PNC Financial Services Group by 5.3% during the fourth quarter. Royal Bank of Canada now owns 3,573,162 shares of the financial services provider's stock worth $689,084,000 after buying an additional 179,760 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

Analyst Ratings Changes

PNC has been the subject of several recent research reports. Bank of America upped their target price on shares of 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. Truist Financial upped their price objective on The PNC Financial Services Group from $189.00 to $198.00 and gave the company a "hold" rating in a report on Wednesday, July 9th. Keefe, Bruyette & Woods upgraded The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and raised their target price for the stock from $185.00 to $212.00 in a report on Wednesday, July 9th. Citigroup lifted their price objective on shares of The PNC Financial Services Group from $205.00 to $217.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Finally, Oppenheimer raised shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $238.00 target price for the company in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, The PNC Financial Services Group has an average rating of "Moderate Buy" and a consensus target price of $214.17.

The PNC Financial Services Group Stock Down 0.4%

PNC stock traded down $0.8850 during trading hours on Monday, reaching $200.8050. 1,200,785 shares of the stock were exchanged, compared to its average volume of 2,315,141. The company has a market cap of $79.08 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 1.49 and a beta of 1.09. The firm's 50-day moving average is $190.75 and its 200-day moving average is $179.23. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $216.26. 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 posted its quarterly earnings data 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 PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%.The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $5.61 billion. During the same period last year, the company earned $3.39 earnings per share. The PNC Financial Services Group's quarterly revenue 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 expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The firm 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 represents a $6.80 dividend on an annualized basis and a dividend yield of 3.4%. This is a boost 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 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.