Ieq Capital LLC Buys 16,356 Shares of The PNC Financial Services Group, Inc $PNC

Key Points

• Ieq Capital LLC increased its stake in The PNC Financial Services Group by 50.3%, now holding 48,842 shares valued at approximately $8.6 million.
• The PNC Financial Services Group recently reported $3.85 EPS, surpassing analyst expectations, and experienced a 4.6% increase in revenue year-over-year.
• The company declared a quarterly dividend of $1.70 per share, which is a raise from the previous $1.60, reflecting strong shareholder returns with a yield of 3.3%.

Ieq Capital LLC lifted its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 50.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 48,842 shares of the financial services provider's stock after purchasing an additional 16,356 shares during the period. Ieq Capital LLC's holdings in The PNC Financial Services Group were worth $8,585,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Gamco Investors INC. ET AL raised its stake in The PNC Financial Services Group by 3.2% during the first quarter. Gamco Investors INC. ET AL now owns 165,050 shares of the financial services provider's stock worth $29,011,000 after acquiring an additional 5,115 shares during the period. PKS Advisory Services LLC boosted its holdings in The PNC Financial Services Group by 3.2% during the first quarter. PKS Advisory Services LLC now owns 1,910 shares of the financial services provider's stock worth $332,000 after buying an additional 60 shares in the last quarter. Harvest Portfolios Group Inc. boosted its holdings in The PNC Financial Services Group by 16.6% during the first quarter. Harvest Portfolios Group Inc. now owns 35,657 shares of the financial services provider's stock worth $6,267,000 after buying an additional 5,064 shares in the last quarter. Potomac Fund Management Inc. ADV boosted its holdings in The PNC Financial Services Group by 11.8% during the first quarter. Potomac Fund Management Inc. ADV now owns 7,042 shares of the financial services provider's stock worth $1,238,000 after buying an additional 746 shares in the last quarter. Finally, South Plains Financial Inc. boosted its stake in The PNC Financial Services Group by 73.6% in the 1st quarter. South Plains Financial Inc. now owns 2,750 shares of the financial services provider's stock worth $483,000 after purchasing an additional 1,166 shares during the period. Institutional investors and hedge funds own 83.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PNC shares. Wolfe Research reaffirmed a "peer perform" rating on shares of The PNC Financial Services Group in a research note on Thursday, July 3rd. TD Cowen started coverage on shares of The PNC Financial Services Group in a report on Thursday, May 15th. They set a "buy" rating and a $233.00 price target on the stock. Oppenheimer upgraded shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $238.00 target price on the stock in a report on Wednesday, July 30th. Raymond James Financial upgraded shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 target price on the stock in a report on Tuesday, July 8th. Finally, Bank of America boosted 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. One investment 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 issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $214.17.

The PNC Financial Services Group Price Performance

NYSE:PNC traded up $2.09 on Friday, reaching $207.71. The stock had a trading volume of 2,045,627 shares, compared to its average volume of 1,545,309. The company has a market capitalization of $81.80 billion, a P/E ratio of 14.21, a price-to-earnings-growth ratio of 1.53 and a beta of 1.11. The PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-year high of $216.26. 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 stock has a fifty day moving average price of $193.71 and a 200-day moving average price of $179.48.

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 EPS for the quarter, beating analysts' consensus estimates of $3.56 by $0.29. The firm had revenue of $3.01 billion for the quarter, compared to analyst estimates 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 for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.39 earnings per share. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current 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 paid a $1.70 dividend. This is a boost 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 3.3%. The ex-dividend date of this dividend was Tuesday, July 15th. The PNC Financial Services Group's payout ratio is presently 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.