The PNC Financial Services Group, Inc $PNC Shares Acquired by Vest Financial LLC

Key Points

• Vest Financial LLC significantly increased its stake in The PNC Financial Services Group, acquiring an additional 60,410 shares, representing a 120.0% increase in the second quarter.
• Wall Street analysts are generally optimistic about PNC, with several firms raising their price targets and maintaining buy ratings, forecasting an average target price of $218.21.
• The PNC Financial Services Group recently announced a quarterly dividend of $1.70 per share, reflecting an annualized yield of 3.6% and a payout ratio of 46.51%.

Vest Financial LLC grew its holdings in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 120.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,739 shares of the financial services provider's stock after buying an additional 60,410 shares during the quarter. Vest Financial LLC's holdings in The PNC Financial Services Group were worth $20,644,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Avior Wealth Management LLC lifted its holdings in shares of The PNC Financial Services Group by 4.5% in the 2nd quarter. Avior Wealth Management LLC now owns 1,213 shares of the financial services provider's stock valued at $226,000 after buying an additional 52 shares during the period. Rockland Trust Co. increased its stake in The PNC Financial Services Group by 0.5% in the 2nd quarter. Rockland Trust Co. now owns 10,499 shares of the financial services provider's stock valued at $1,957,000 after purchasing an additional 53 shares in the last quarter. Almanack Investment Partners LLC. increased its stake in The PNC Financial Services Group by 2.3% in the 2nd quarter. Almanack Investment Partners LLC. now owns 2,433 shares of the financial services provider's stock valued at $454,000 after purchasing an additional 55 shares in the last quarter. Kestra Investment Management LLC increased its stake in The PNC Financial Services Group by 11.4% in the 1st quarter. Kestra Investment Management LLC now owns 566 shares of the financial services provider's stock valued at $99,000 after purchasing an additional 58 shares in the last quarter. Finally, Bank of Stockton increased its stake in The PNC Financial Services Group by 1.2% in the 2nd quarter. Bank of Stockton now owns 4,849 shares of the financial services provider's stock valued at $904,000 after purchasing an additional 58 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PNC has been the subject of several research analyst reports. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of The PNC Financial Services Group in a research note on Wednesday, October 8th. Citigroup raised their price objective on The PNC Financial Services Group from $217.00 to $230.00 and gave the company a "buy" rating in a research note on Tuesday, September 23rd. UBS Group raised their price objective on The PNC Financial Services Group from $224.00 to $229.00 and gave the company a "buy" rating in a research note on Tuesday, October 7th. Piper Sandler raised The PNC Financial Services Group from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $211.00 to $220.00 in a research note on Thursday, October 9th. Finally, Raymond James Financial raised their price target on The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an "outperform" rating in a research report on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group has an average rating of "Moderate Buy" and an average target price of $218.21.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $187.13 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a fifty day moving average of $198.60 and a two-hundred day moving average of $183.73. The company has a market capitalization of $73.69 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 1.28 and a beta of 1.10. 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 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 earnings per share for the quarter, topping the consensus estimate of $3.56 by $0.29. The company 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 return on equity of 11.07% and a net margin of 18.33%.The PNC Financial Services Group's revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $3.39 earnings per share. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th will be given a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.6%. The PNC Financial Services Group's 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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