Swedbank AB Boosts Stake in The PNC Financial Services Group, Inc $PNC

Key Points

• Swedbank AB increased its stake in The PNC Financial Services Group by 1.2%, holding approximately 212,796 shares worth $37.4 million.
• The PNC Financial Services Group reported earnings of$3.85 per share, surpassing estimates and showing a year-over-year revenue increase of 4.6%.
• The company recently raised its quarterly dividend from $1.60 to $1.70, translating to an annual yield of 3.4% based on a payout ratio of 46.51%.

Swedbank AB increased its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 1.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 212,796 shares of the financial services provider's stock after acquiring an additional 2,549 shares during the quarter. Swedbank AB owned about 0.05% of The PNC Financial Services Group worth $37,403,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC raised its stake in The PNC Financial Services Group by 32.2% in the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider's stock valued at $779,000 after purchasing an additional 984 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $2,522,000. Man Group plc raised its holdings in shares of The PNC Financial Services Group by 70.3% during the fourth quarter. Man Group plc now owns 20,234 shares of the financial services provider's stock valued at $3,902,000 after acquiring an additional 8,353 shares in the last quarter. Quantinno Capital Management LP raised its holdings in shares of The PNC Financial Services Group by 17.8% during the fourth quarter. Quantinno Capital Management LP now owns 27,981 shares of the financial services provider's stock valued at $5,396,000 after acquiring an additional 4,221 shares in the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of The PNC Financial Services Group by 11.3% during the fourth quarter. ProShare Advisors LLC now owns 85,025 shares of the financial services provider's stock valued at $16,397,000 after acquiring an additional 8,622 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Up 0.4%

The PNC Financial Services Group stock traded up $0.72 during mid-day trading on Monday, hitting $202.70. The company had a trading volume of 1,464,299 shares, compared to its average volume of 1,509,861. 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 stock's 50 day moving average price is $197.01 and its two-hundred day moving average price is $180.50. 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 market capitalization of $79.82 billion, a PE ratio of 13.86, a price-to-earnings-growth ratio of 1.49 and a beta of 1.11.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $5.61 billion. During the same period in the previous year, the company posted $3.39 earnings per share. The company's revenue for the quarter 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. As a group, sell-side analysts anticipate 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 business also recently announced a quarterly dividend, which was paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.4%. This is a positive change from The PNC Financial Services Group's previous quarterly dividend of $1.60. The ex-dividend date of this dividend was Tuesday, July 15th. The PNC Financial Services Group's dividend payout ratio is presently 46.51%.

Wall Street Analysts Forecast Growth

PNC has been the subject of a number of recent analyst reports. Stephens restated an "equal weight" rating and set a $200.00 target price on shares of The PNC Financial Services Group in a report on Wednesday, September 10th. Keefe, Bruyette & Woods upgraded The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and increased their price objective for the stock from $185.00 to $212.00 in a report on Wednesday, July 9th. The Goldman Sachs Group increased their price objective on The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Wolfe Research reiterated a "peer perform" rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. 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 objective for the company in a report on Tuesday, July 8th. One 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 company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $213.67.

The PNC Financial Services Group Company 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.