The PNC Financial Services Group, Inc $PNC Shares Purchased by BankPlus Trust Department

Key Points

• BankPlus Trust Department significantly increased its holdings in The PNC Financial Services Group by 27,900.0% in Q2, owning 1,400 shares valued at approximately $261,000.
• The financial services company reported earnings of $3.85 per share, exceeding analysts' expectations of $3.56, with revenues of $3.01 billion for the quarter.
• PNC has announced a quarterly dividend of $1.70, resulting in an annualized dividend of $6.80, with a dividend yield of 3.5% and a payout ratio of 46.51%.

BankPlus Trust Department increased its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 27,900.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,400 shares of the financial services provider's stock after purchasing an additional 1,395 shares during the period. BankPlus Trust Department's holdings in The PNC Financial Services Group were worth $261,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PNC. Saudi Central Bank acquired a new stake in shares of The PNC Financial Services Group in the 1st quarter worth $27,000. Cornerstone Planning Group LLC increased its holdings in shares of The PNC Financial Services Group by 50.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 65 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of The PNC Financial Services Group in the 1st quarter valued at about $35,000. WPG Advisers LLC purchased a new position in shares of The PNC Financial Services Group in the 1st quarter valued at about $36,000. Finally, Fourth Dimension Wealth LLC purchased a new position in shares of The PNC Financial Services Group in the 1st quarter valued at about $41,000. Institutional investors and hedge funds own 83.53% of the company's stock.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC opened at $193.98 on Wednesday. The company has a market cap of $76.39 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 1.44 and a beta of 1.10. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $216.26. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.80 and a quick ratio of 0.80. The company has a 50-day simple moving average of $198.71 and a 200-day simple moving average of $183.33.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued 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 net margin of 18.33% and a return on equity of 11.07%. The company's quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm 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, equities analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Investors 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 annualized dividend and a dividend yield of 3.5%. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 46.51%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PNC. Morgan Stanley increased their price target on shares of The PNC Financial Services Group from $186.00 to $206.00 and gave the company an "underweight" rating in a report on Monday, September 29th. Citigroup increased their price target on shares of The PNC Financial Services Group from $217.00 to $230.00 and gave the company a "buy" rating in a report on Tuesday, September 23rd. Weiss Ratings reiterated a "buy (b-)" rating on shares of The PNC Financial Services Group in a report on Saturday, September 27th. Stephens restated an "equal weight" rating and set a $200.00 target price on shares of The PNC Financial Services Group in a report on Wednesday, September 10th. Finally, Keefe, Bruyette & Woods upgraded shares of The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and raised their target price for the company from $185.00 to $212.00 in a report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $217.74.

The PNC Financial Services Group 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.

Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The PNC Financial Services Group, Inc (NYSE:PNC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.