waypoint wealth counsel Purchases New Shares in The PNC Financial Services Group, Inc $PNC

Key Points

• Waypoint Wealth Counsel has acquired a new stake in The PNC Financial Services Group, purchasing 2,438 shares valued at approximately $454,000 during the second quarter.
• The PNC Financial Services Group reported a quarterly earnings per share of $3.85, exceeding analysts' expectations and showing a 4.6% increase in revenue compared to the same quarter last year.
• The company announced a quarterly dividend of $1.70 per share, with an annualized yield of 3.7% and a current dividend payout ratio of 46.51%.

waypoint wealth counsel bought a new stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,438 shares of the financial services provider's stock, valued at approximately $454,000.

A number of other hedge funds have also recently modified their holdings of the business. Avior Wealth Management LLC boosted its stake in The PNC Financial Services Group by 4.5% during the second quarter. Avior Wealth Management LLC now owns 1,213 shares of the financial services provider's stock worth $226,000 after acquiring an additional 52 shares in the last quarter. Rockland Trust Co. boosted its position in shares of The PNC Financial Services Group by 0.5% in the 2nd quarter. Rockland Trust Co. now owns 10,499 shares of the financial services provider's stock worth $1,957,000 after purchasing an additional 53 shares in the last quarter. Kestra Investment Management LLC boosted its position in shares of The PNC Financial Services Group by 11.4% in the 1st quarter. Kestra Investment Management LLC now owns 566 shares of the financial services provider's stock worth $99,000 after purchasing an additional 58 shares in the last quarter. Bank of Stockton boosted its position in shares of The PNC Financial Services Group by 1.2% in the 2nd quarter. Bank of Stockton now owns 4,849 shares of the financial services provider's stock worth $904,000 after purchasing an additional 58 shares in the last quarter. Finally, Venture Visionary Partners LLC boosted its holdings in The PNC Financial Services Group by 2.2% in the second quarter. Venture Visionary Partners LLC now owns 2,677 shares of the financial services provider's stock worth $499,000 after acquiring an additional 58 shares in the last quarter. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Price Performance

PNC opened at $183.72 on Friday. The stock has a market capitalization of $72.35 billion, a P/E ratio of 12.57, a P/E/G ratio of 1.36 and a beta of 1.10. The company's 50-day simple moving average is $198.64 and its two-hundred day simple moving average is $183.56. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $216.26. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.80 and a current ratio of 0.80.

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, beating analysts' consensus estimates of $3.56 by $0.29. The company had revenue of $3.01 billion for 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 firm's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.39 earnings per share. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th will be issued a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.7%. The PNC Financial Services Group's dividend payout ratio is currently 46.51%.

Analyst Ratings Changes

Several equities research analysts have commented on PNC shares. Piper Sandler raised The PNC Financial Services Group from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $211.00 to $220.00 in a report on Thursday. Oppenheimer dropped their price target on shares of The PNC Financial Services Group from $238.00 to $235.00 and set an "outperform" rating on the stock in a research note on Tuesday, September 23rd. Bank of America upped their target price 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. Morgan Stanley upped their target price on shares of The PNC Financial Services Group from $186.00 to $206.00 and gave the stock an "underweight" rating in a research note on Monday, September 29th. Finally, Wolfe Research reaffirmed 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, fourteen have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $218.21.

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.

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