The PNC Financial Services Group, Inc $PNC Shares Newly Bought by Formidable Asset Management LLC

Key Points

• Formidable Asset Management bought 5,709 PNC shares in the third quarter, valued at approximately $1.41 million; institutional investors own 83.53% of the stock.
• PNC reported quarterly earnings of $5.09 per share, beating estimates of $4.91, while revenue of $6.60 billion came in just below forecasts and rose 10.9% year over year.
• PNC paid a quarterly dividend of $2 per share, equivalent to an annualized yield of about 3.5%; analysts’ average rating is “Moderate Buy,” with an average price target of $266.04.

Formidable Asset Management LLC purchased a new stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 5,709 shares of the financial services provider's stock, valued at approximately $1,406,000.

A number of other institutional investors also recently bought and sold shares of PNC. BlackRock Inc. purchased a new stake in The PNC Financial Services Group in the second quarter worth about $7,921,455,000. State Street Corp grew its holdings in shares of The PNC Financial Services Group by 4.3% during the 2nd quarter. State Street Corp now owns 18,434,446 shares of the financial services provider's stock worth $4,538,929,000 after acquiring an additional 765,097 shares during the period. Bank of America Corp DE purchased a new position in shares of The PNC Financial Services Group during the 2nd quarter worth approximately $2,102,631,000. Deutsche Bank AG bought a new position in shares of The PNC Financial Services Group in the 2nd quarter worth approximately $1,054,189,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of The PNC Financial Services Group by 1.1% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,607,786 shares of the financial services provider's stock worth $888,309,000 after acquiring an additional 39,112 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Stacy Juchno sold 3,354 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $255.84, for a total value of $858,087.36. Following the completion of the transaction, the executive vice president directly owned 18,800 shares in the company, valued at $4,809,792. The trade was a 15.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.38% of the stock is currently owned by insiders.

Key Stories Impacting The PNC Financial Services Group

Here are the key news stories impacting The PNC Financial Services Group this week:

• Positive Sentiment: PNC Bank plans to expand to more than 370 new branches by 2031, including over 50 additional locations in South Carolina and Georgia. The expansion targets fast-growing markets and could support future customer and revenue growth, though returns will depend on execution. PNC Bank expands branch buildout
• Positive Sentiment: Sell-side analysts were reported to rate PNC a “Moderate Buy,” reflecting a generally favorable analyst view. Analyst rating coverage
• Neutral Sentiment: PNC presented at the BancAnalysts Association of Boston conference. The available headline provides no specific new financial outlook or business updates to assess. Conference transcript
• Negative Sentiment: PNC announced that Alexander E.C. Overstrom will become CFO, with current CFO Robert Q. Reilly moving to executive vice chairman in March 2027. The planned succession provides a transition timeline, but shares reportedly came under pressure after the announcement, suggesting investor concern about the leadership change. CFO transition announcement

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $225.41 on Friday. The PNC Financial Services Group, Inc has a one year low of $177.08 and a one year high of $258.96. The company's 50-day moving average is $228.58 and its 200 day moving average is $229.20. The company has a market capitalization of $89.44 billion, a price-to-earnings ratio of 12.00, a price-to-earnings-growth ratio of 1.16 and a beta of 0.92. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.83 and a current ratio of 0.84.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings data on Thursday, October 15th. The financial services provider reported $5.09 earnings per share for the quarter, beating analysts' consensus estimates of $4.91 by $0.18. The business had revenue of $6.60 billion during the quarter, compared to analyst estimates of $6.61 billion. The PNC Financial Services Group had a net margin of 21.83% and a return on equity of 12.82%. The PNC Financial Services Group's revenue was up 10.9% compared to the same quarter last year. During the same period last year, the business earned $4.35 EPS. Sell-side analysts expect that The PNC Financial Services Group, Inc will post 19.24 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 5th. Investors of record on Wednesday, October 14th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Wednesday, October 14th. This represents a $8.00 annualized dividend and a dividend yield of 3.5%. The PNC Financial Services Group's dividend payout ratio (DPR) is 42.58%.

Analysts Set New Price Targets

Several research firms recently weighed in on PNC. Robert W. Baird lifted their price target on The PNC Financial Services Group from $250.00 to $280.00 and gave the company an "outperform" rating in a research report on Thursday, July 16th. TD Cowen decreased their price objective on The PNC Financial Services Group from $245.00 to $240.00 and set a "hold" rating for the company in a report on Friday, October 16th. Barclays raised their price objective on The PNC Financial Services Group from $277.00 to $284.00 and gave the company an "overweight" rating in a research report on Thursday, July 16th. Jefferies Financial Group dropped their target price on shares of The PNC Financial Services Group from $305.00 to $280.00 and set a "buy" rating on the stock in a report on Thursday, September 24th. Finally, Morgan Stanley reduced their target price on shares of The PNC Financial Services Group from $278.00 to $273.00 and set an "equal weight" rating on the stock in a research report on Friday, October 16th. Seventeen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $266.04.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. It serves consumers, small businesses, corporations, government entities and institutional clients through a range of banking and financial services.

PNC's businesses include retail banking, corporate and institutional banking, and asset management. Its offerings include deposit accounts, lending, cash management, treasury services, investment and wealth management, and other financial products and services.

The company traces its history to 1852 and took its current name following the 1983 merger of Pittsburgh National Corporation and Provident National Corporation.

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