The PNC Financial Services Group, Inc $PNC Shares Acquired by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD increased its stake in The PNC Financial Services Group by 10.4%, owning approximately 649,721 shares valued at $114.2 million.
• PNC announced a quarterly dividend of $1.70, up from the previous $1.60, representing an annualized dividend yield of 3.4%.
• Wall Street analysts have a consensus target price of $214.17 for PNC, with 11 analysts rating it as a Buy and one rating it as Sell.

Price T Rowe Associates Inc. MD increased its stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 10.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 649,721 shares of the financial services provider's stock after purchasing an additional 61,294 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.16% of The PNC Financial Services Group worth $114,202,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in The PNC Financial Services Group by 0.7% in the first 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 during the period. Massachusetts Financial Services Co. MA lifted its holdings in The PNC Financial Services Group by 26.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,502,467 shares of the financial services provider's stock valued at $1,670,249,000 after acquiring an additional 1,964,157 shares during the last quarter. Northern Trust Corp lifted its holdings in The PNC Financial Services Group by 14.9% in 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 acquiring an additional 608,375 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in The PNC Financial Services Group by 4.8% in the 1st quarter. Bank of New York Mellon Corp now owns 4,056,797 shares of the financial services provider's stock valued at $713,063,000 after acquiring an additional 186,249 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in The PNC Financial Services Group by 5.3% in the 4th quarter. Royal Bank of Canada now owns 3,573,162 shares of the financial services provider's stock valued at $689,084,000 after acquiring an additional 179,760 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

Wall Street Analysts Forecast Growth

PNC has been the subject of a number of research analyst reports. The Goldman Sachs Group upped their price target on shares of The PNC Financial Services Group from $178.00 to $196.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Wolfe Research reissued a "peer perform" rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. Morgan Stanley upped their price target on shares of The PNC Financial Services Group from $179.00 to $186.00 and gave the company an "underweight" rating in a report on Thursday, July 17th. Citigroup upped their price target on shares of The PNC Financial Services Group from $205.00 to $217.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Finally, Bank of America upped their price target on shares of The PNC Financial Services Group from $223.00 to $226.00 and gave the company a "buy" rating in a report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from 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 opened at $200.8050 on Tuesday. The stock's 50-day moving average price is $191.26 and its two-hundred day moving average price is $179.23. 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 company has a market cap of $79.08 billion, a PE ratio of 13.73, a PEG ratio of 1.49 and a beta of 1.09. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share for the quarter, beating analysts' consensus estimates of $3.56 by $0.29. The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $5.61 billion. The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%.The firm's quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.39 EPS. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Increases Dividend

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

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