Northwest & Ethical Investments L.P. Purchases 2,051 Shares of The PNC Financial Services Group, Inc $PNC

Key Points

• Northwest & Ethical Investments L.P. increased its stake in The PNC Financial Services Group by 200.1% during the 1st quarter, owning 3,076 shares valued at $540,000.
• In Q2, PNC reported $3.85 EPS, exceeding analyst expectations of $3.56, with a quarterly revenue of $3.01 billion, indicating a 4.6% annual revenue growth.
• The company has announced a quarterly dividend of $1.70 per share, up from the previous $1.60, with an annualized yield of 3.5%.

Northwest & Ethical Investments L.P. lifted its holdings in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 200.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,076 shares of the financial services provider's stock after purchasing an additional 2,051 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in The PNC Financial Services Group were worth $540,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in 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 buying an additional 248,252 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in 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 buying an additional 1,964,157 shares during the period. Northern Trust Corp boosted its stake in The PNC Financial Services Group by 14.9% during the fourth quarter. Northern Trust Corp now owns 4,695,514 shares of the financial services provider's stock worth $905,530,000 after buying an additional 608,375 shares during the period. Bank of New York Mellon Corp boosted its stake in 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 buying an additional 186,249 shares during the period. Finally, Royal Bank of Canada boosted its stake in 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 buying an additional 179,760 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on PNC. TD Cowen began coverage on shares of The PNC Financial Services Group in a research note on Thursday, May 15th. They set a "buy" rating and a $233.00 price objective for the company. Wall Street Zen raised shares of The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Bank of America lifted their price objective on shares of The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Oppenheimer raised shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $238.00 price objective for the company in a research note on Wednesday, July 30th. Finally, Wolfe Research reiterated a "peer perform" rating on shares of The PNC Financial Services Group in a research report on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $214.17.

The PNC Financial Services Group Stock Down 0.4%

Shares of PNC stock traded down $0.8850 on Monday, hitting $200.8050. The stock had a trading volume of 1,273,978 shares, compared to its average volume of 1,537,127. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.99. The business has a 50 day moving average price of $191.26 and a 200 day moving average price of $179.23. The company has a market cap of $79.08 billion, a PE ratio of 13.73, a P/E/G ratio of 1.49 and a beta of 1.09. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share for the quarter, beating the consensus estimate of $3.56 by $0.29. The firm 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 firm's quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $3.39 earnings per share. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th were issued 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 annualized dividend and a dividend yield of 3.4%. The PNC Financial Services Group's dividend payout ratio is presently 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.