T. Rowe Price Investment Management Inc. Increases Position in The PNC Financial Services Group, Inc $PNC

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in The PNC Financial Services Group by 37.8%, owning 120,798 shares valued at approximately $21.23 million after buying an additional 33,107 shares.
• Several equities analysts have upgraded their ratings for PNC, with price targets now reaching as high as $238.00, reflecting growing confidence in the company's performance.
• The PNC Financial Services Group announced a quarterly dividend increase to $1.70 per share, representing a yield of 3.4% and a dividend payout ratio of 46.51%.

T. Rowe Price Investment Management Inc. grew its stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 37.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 120,798 shares of the financial services provider's stock after purchasing an additional 33,107 shares during the period. T. Rowe Price Investment Management Inc.'s holdings in The PNC Financial Services Group were worth $21,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in PNC. Brighton Jones LLC boosted its holdings in The PNC Financial Services Group by 32.2% in the 4th 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 during the last quarter. Marshall Wace LLP purchased a new stake in The PNC Financial Services Group in the fourth quarter valued at $2,945,000. Capital Analysts LLC lifted its stake in shares of The PNC Financial Services Group by 10.5% in the 4th quarter. Capital Analysts LLC now owns 1,627 shares of the financial services provider's stock valued at $314,000 after purchasing an additional 155 shares during the last quarter. Coldstream Capital Management Inc. grew its holdings in shares of The PNC Financial Services Group by 6.1% during the 4th quarter. Coldstream Capital Management Inc. now owns 8,438 shares of the financial services provider's stock worth $1,627,000 after purchasing an additional 485 shares during the period. Finally, Oxford Asset Management LLP purchased a new stake in The PNC Financial Services Group in the 4th quarter valued at about $632,000. Institutional investors and hedge funds own 83.53% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PNC shares. Bank of America upped their price objective on shares of The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Wolfe Research reissued a "peer perform" rating on shares of The PNC Financial Services Group in a research note on Thursday, July 3rd. Citigroup lifted their target price on The PNC Financial Services Group from $205.00 to $217.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. 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 research report on Wednesday, July 30th. Finally, Truist Financial lifted their price objective on shares of 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. 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 given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $214.17.

The PNC Financial Services Group Stock Down 0.2%

Shares of PNC traded down $0.32 during mid-day trading on Thursday, reaching $205.72. The company's stock had a trading volume of 1,013,926 shares, compared to its average volume of 2,299,770. 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, Inc has a 12-month low of $145.12 and a 12-month high of $216.26. The stock has a market cap of $81.02 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 1.51 and a beta of 1.09. The company's 50 day moving average is $192.49 and its 200 day moving average is $179.59.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share for the quarter, topping the consensus estimate of $3.56 by $0.29. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $5.61 billion. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The company's revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.39 EPS. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Equities analysts anticipate 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 declared a quarterly dividend, which was paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th were paid a dividend of $1.70 per share. The ex-dividend date was Tuesday, July 15th. This represents a $6.80 dividend on an annualized basis and a yield of 3.3%. This is a boost from The PNC Financial Services Group's previous quarterly dividend of $1.60. The PNC Financial Services Group's dividend payout ratio (DPR) is 46.51%.

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.