The PNC Financial Services Group, Inc $PNC Holdings Lifted by Swedbank AB

Key Points

• Swedbank AB has increased its stake in The PNC Financial Services Group by 4.2%, now owning 221,800 shares valued at approximately $41.35 million.
• The PNC Financial Services Group reported a quarterly earnings per share (EPS) of $3.85, beating estimates of $3.56, and had a revenue of $3.01 billion.
• The company's quarterly dividend has increased from $1.60 to $1.70 per share, representing an annualized dividend of $6.80, with a yield of 3.3%.

Swedbank AB increased its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 4.2% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 221,800 shares of the financial services provider's stock after acquiring an additional 9,004 shares during the period. Swedbank AB owned approximately 0.06% of The PNC Financial Services Group worth $41,348,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PNC. Massachusetts Financial Services Co. MA lifted its position in The PNC Financial Services Group by 26.1% during the 1st 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 acquiring an additional 1,964,157 shares in the last quarter. Nuveen LLC acquired a new position in The PNC Financial Services Group during the 1st quarter worth approximately $306,905,000. GAMMA Investing LLC lifted its position in The PNC Financial Services Group by 19,279.5% during the 1st quarter. GAMMA Investing LLC now owns 1,149,008 shares of the financial services provider's stock worth $201,961,000 after acquiring an additional 1,143,079 shares in the last quarter. Amundi lifted its position in The PNC Financial Services Group by 76.1% during the 1st quarter. Amundi now owns 2,186,073 shares of the financial services provider's stock worth $352,592,000 after acquiring an additional 944,731 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in The PNC Financial Services Group by 187.3% during the 1st quarter. AQR Capital Management LLC now owns 1,421,434 shares of the financial services provider's stock worth $245,055,000 after purchasing an additional 926,709 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Truist Financial lifted their price objective on The PNC Financial Services Group from $189.00 to $198.00 and gave the stock a "hold" rating in a report on Wednesday, July 9th. Piper Sandler lifted their price objective on The PNC Financial Services Group from $200.00 to $211.00 and gave the stock a "neutral" rating in a report on Wednesday, September 10th. The Goldman Sachs Group lifted their price objective on The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Wolfe Research reiterated a "peer perform" rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. Finally, Citigroup boosted their price target on The PNC Financial Services Group from $205.00 to $217.00 and gave the company a "buy" rating in a report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $213.94.

The PNC Financial Services Group Stock Performance

PNC traded down $2.75 during trading on Monday, reaching $202.77. 497,072 shares of the company were exchanged, compared to its average volume of 2,233,731. The stock has a market cap of $79.85 billion, a P/E ratio of 13.86, a PEG ratio of 1.52 and a beta of 1.11. The firm has a 50 day moving average of $197.54 and a 200 day moving average of $181.11. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.99. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings data 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 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 revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the business earned $3.39 EPS. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, sell-side analysts forecast 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th were paid a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, July 15th. This is a positive change 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 (DPR) 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.