Sciencast Management LP Purchases New Stake in The PNC Financial Services Group, Inc $PNC

Key Points

• Sciencast Management LP has invested approximately $3.62 million in The PNC Financial Services Group, acquiring 20,584 shares, making it the firm's 10th largest holding.
• The PNC Financial Services Group reported an EPS of $3.85 for the last quarter, exceeding analysts' expectations and showing a 4.6% year-over-year revenue increase.
• The company has recently increased its dividend to $1.70 per share, resulting in an annual yield of 3.3%.

Sciencast Management LP purchased a new stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 20,584 shares of the financial services provider's stock, valued at approximately $3,618,000. The PNC Financial Services Group comprises 0.8% of Sciencast Management LP's portfolio, making the stock its 10th biggest position.

A number of other institutional investors and hedge funds also recently modified their holdings of PNC. Vanguard Group Inc. increased its stake 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 purchasing an additional 248,252 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of The PNC Financial Services Group by 26.1% during the 1st 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 acquiring an additional 1,964,157 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of The PNC Financial Services Group by 0.5% during the 1st quarter. Ameriprise Financial Inc. now owns 4,807,684 shares of the financial services provider's stock worth $844,967,000 after acquiring an additional 24,588 shares in the last quarter. Bank of New York Mellon Corp grew its stake 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 acquiring an additional 186,249 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in shares of The PNC Financial Services Group by 5.3% during the 4th quarter. Royal Bank of Canada now owns 3,573,162 shares of the financial services provider's stock worth $689,084,000 after acquiring an additional 179,760 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock traded up $1.48 during mid-day trading on Wednesday, hitting $201.89. 1,290,572 shares of the company's stock traded hands, compared to its average volume of 1,525,667. The firm has a 50 day simple moving average of $196.59 and a two-hundred day simple moving average of $180.30. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The stock has a market cap of $79.51 billion, a price-to-earnings ratio of 13.81, a P/E/G ratio of 1.48 and a beta of 1.11. 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 announced its quarterly earnings results 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 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 quarter last year, the firm posted $3.39 EPS. The company'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, research analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th were issued a dividend of $1.70 per share. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Tuesday, July 15th. The PNC Financial Services Group's payout ratio is 46.51%.

Wall Street Analyst Weigh In

PNC has been the subject of several research reports. Wall Street Zen raised shares of The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. 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 for the company in a research note on Wednesday, July 30th. Stephens reissued an "equal weight" rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research note on Wednesday. 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 note on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods raised shares of The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and raised their target price for the company from $185.00 to $212.00 in a research note on Wednesday, July 9th. 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 assigned a Sell rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group has a consensus rating of "Moderate Buy" and a consensus price target of $213.67.

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.