Voleon Capital Management LP Takes Position in The PNC Financial Services Group, Inc $PNC

Key Points

• Voleon Capital Management LP has acquired a new stake in The PNC Financial Services Group, purchasing 5,649 shares valued at approximately $993,000.
• The PNC Financial Services Group announced a quarterly dividend of $1.70 per share, representing a yield of 3.3%, which is an increase from the previous $1.60 dividend.
• Analysts have set a consensus price target of $214.17 for PNC shares, with a majority of analysts rating the stock as a "Moderate Buy."

Voleon Capital Management LP acquired a new stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 5,649 shares of the financial services provider's stock, valued at approximately $993,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of The PNC Financial Services Group by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 37,965,619 shares of the financial services provider's stock valued at $6,673,217,000 after acquiring an additional 248,252 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of The PNC Financial Services Group by 26.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,502,467 shares of the financial services provider's stock valued at $1,670,249,000 after acquiring an additional 1,964,157 shares during the period. Ameriprise Financial Inc. grew its position in shares of The PNC Financial Services Group by 0.5% in the 1st quarter. Ameriprise Financial Inc. now owns 4,807,684 shares of the financial services provider's stock valued at $844,967,000 after acquiring an additional 24,588 shares during the period. Bank of New York Mellon Corp grew its position in shares of The PNC Financial Services Group by 4.8% in the 1st quarter. Bank of New York Mellon Corp now owns 4,056,797 shares of the financial services provider's stock valued at $713,063,000 after acquiring an additional 186,249 shares during the period. Finally, Royal Bank of Canada lifted its stake in shares of The PNC Financial Services Group by 5.3% during the 4th 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 last quarter. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock opened at $203.71 on Tuesday. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $216.26. 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 company has a 50-day simple moving average of $196.30 and a two-hundred day simple moving average of $180.01. The stock has a market capitalization of $80.22 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 1.51 and a beta of 1.11.

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 earnings per share for the quarter, topping the consensus estimate of $3.56 by $0.29. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The business had revenue of $3.01 billion during the quarter, compared to analysts' expectations of $5.61 billion. During the same quarter in the previous year, the company earned $3.39 EPS. The business's revenue was up 4.6% on a year-over-year basis. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current 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. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $6.80 annualized dividend and a yield of 3.3%. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.60. The PNC Financial Services Group's payout ratio is 46.51%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PNC shares. Truist Financial raised their target price on shares of The PNC Financial Services Group from $189.00 to $198.00 and gave the stock a "hold" rating in a research note on Wednesday, July 9th. Morgan Stanley raised their target price on shares of The PNC Financial Services Group from $179.00 to $186.00 and gave the stock an "underweight" rating in a research note on Thursday, July 17th. TD Cowen started 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 target price for the company. Wolfe Research restated a "peer perform" rating on shares of The PNC Financial Services Group in a research note on Thursday, July 3rd. 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 stock from $185.00 to $212.00 in a research note on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $214.17.

The PNC Financial Services Group Company 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.

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