The PNC Financial Services Group, Inc $PNC Shares Bought by Vident Advisory LLC

Key Points

• Vident Advisory LLC has increased its stake in The PNC Financial Services Group by 33.3%, owning 12,875 shares currently valued at approximately $2.26 million.
• The PNC Financial Services Group recently reported quarterly earnings of $3.85 per share, exceeding estimates by $0.29, with revenue showing a 4.6% increase year-over-year.
• The company declared a quarterly dividend of $1.70, marking an increase from its previous dividend of $1.60, and representing an annual yield of 3.3%.

Vident Advisory LLC boosted its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 33.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,875 shares of the financial services provider's stock after buying an additional 3,215 shares during the period. Vident Advisory LLC's holdings in The PNC Financial Services Group were worth $2,263,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Massachusetts Financial Services Co. MA boosted its holdings 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 in the last quarter. Nuveen LLC purchased a new stake in The PNC Financial Services Group during the first quarter worth about $306,905,000. Leigh Baldwin & CO. LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter worth about $299,864,000. GAMMA Investing LLC boosted its holdings in The PNC Financial Services Group by 19,279.5% during the first quarter. GAMMA Investing LLC now owns 1,149,008 shares of the financial services provider's stock worth $201,961,000 after buying an additional 1,143,079 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in The PNC Financial Services Group by 41.8% during the first quarter. Goldman Sachs Group Inc. now owns 2,818,090 shares of the financial services provider's stock worth $495,336,000 after buying an additional 830,440 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PNC shares. Citigroup boosted their price objective on shares of The PNC Financial Services Group from $205.00 to $217.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Raymond James Financial upgraded shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 price objective on the stock in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods upgraded shares of The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and boosted their price objective for the stock from $185.00 to $212.00 in a research report on Wednesday, July 9th. Truist Financial boosted their price objective on shares of 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. Finally, Morgan Stanley boosted their price objective on shares of The PNC Financial Services Group from $179.00 to $186.00 and gave the stock an "underweight" rating in a research 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 issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $214.17.

The PNC Financial Services Group Trading Down 1.4%

NYSE:PNC traded down $2.85 on Friday, reaching $204.51. The stock had a trading volume of 1,272,975 shares, compared to its average volume of 1,494,110. The company has a market cap of $80.54 billion, a price-to-earnings ratio of 13.99, a P/E/G ratio of 1.53 and a beta of 1.11. 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 firm's fifty day moving average is $195.96 and its two-hundred day moving average is $180.08. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.56 by $0.29. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates 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 firm's quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.39 EPS. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Equities analysts expect 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 company also recently announced a quarterly dividend, which was paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th were issued a $1.70 dividend. This is a positive change from The PNC Financial Services Group's previous quarterly dividend of $1.60. The ex-dividend date was Tuesday, July 15th. This represents a $6.80 dividend on an annualized basis and a yield of 3.3%. The PNC Financial Services Group's payout ratio 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.