The PNC Financial Services Group, Inc $PNC Shares Bought by Focus Partners Wealth

Key Points

• Focus Partners Wealth increased its stake in The PNC Financial Services Group by 1.6% in the first quarter, owning 205,172 shares worth $36.06 million.
• The PNC Financial Services Group recently reported $3.85 EPS for the quarter, exceeding analysts' expectations, with revenue of $3.01 billion, a 4.6% increase year-over-year.
• PNC has increased its quarterly dividend from $1.60 to $1.70, resulting in an annualized yield of 3.4%.

Focus Partners Wealth grew its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 1.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 205,172 shares of the financial services provider's stock after purchasing an additional 3,295 shares during the quarter. Focus Partners Wealth owned 0.05% of The PNC Financial Services Group worth $36,063,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of The PNC Financial Services Group by 0.7% during 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 in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of The PNC Financial Services Group by 26.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 9,502,467 shares of the financial services provider's stock worth $1,670,249,000 after purchasing an additional 1,964,157 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of The PNC Financial Services Group by 0.5% during the first quarter. Ameriprise Financial Inc. now owns 4,807,684 shares of the financial services provider's stock worth $844,967,000 after purchasing an additional 24,588 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of The PNC Financial Services Group by 4.8% during the first quarter. Bank of New York Mellon Corp now owns 4,056,797 shares of the financial services provider's stock worth $713,063,000 after purchasing an additional 186,249 shares in the last quarter. Finally, Royal Bank of Canada lifted its stake in shares of The PNC Financial Services Group by 5.3% during the fourth quarter. Royal Bank of Canada now owns 3,573,162 shares of the financial services provider's stock worth $689,084,000 after purchasing an additional 179,760 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

The PNC Financial Services Group Stock Up 0.7%

NYSE:PNC opened at $201.89 on Thursday. The company has a market capitalization of $79.51 billion, a price-to-earnings ratio of 13.81, a price-to-earnings-growth ratio of 1.48 and a beta of 1.11. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26. The stock has a 50-day simple moving average of $196.59 and a 200 day simple moving average of $180.30. 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 PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 11.07% and a net margin of 18.33%.The company's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the firm earned $3.39 earnings per share. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Sell-side analysts predict 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 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. The ex-dividend date was Tuesday, July 15th. This is an increase 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 yield of 3.4%. The PNC Financial Services Group's payout ratio is presently 46.51%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PNC. Truist Financial lifted their target price on The PNC Financial Services Group from $189.00 to $198.00 and gave the stock a "hold" rating in a research report on Wednesday, July 9th. The Goldman Sachs Group lifted their target price on The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Wall Street Zen raised The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Stephens reaffirmed an "equal weight" rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday. Finally, Bank of America lifted their target price on The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average 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.

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