Northeast Financial Group Inc. Trims Position in The PNC Financial Services Group, Inc $PNC

Northeast Financial Group Inc. cut its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 6.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,772 shares of the financial services provider’s stock after selling 124 shares during the quarter. Northeast Financial Group Inc.’s holdings in The PNC Financial Services Group were worth $330,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Avior Wealth Management LLC boosted its position in shares of The PNC Financial Services Group by 4.5% during the 2nd quarter. Avior Wealth Management LLC now owns 1,213 shares of the financial services provider’s stock valued at $226,000 after acquiring an additional 52 shares during the last quarter. Rockland Trust Co. raised its holdings in 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 valued at $1,957,000 after buying an additional 53 shares during the period. Kestra Investment Management LLC raised its holdings in 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 valued at $99,000 after buying an additional 58 shares during the period. Bank of Stockton raised its holdings in 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 valued at $904,000 after buying an additional 58 shares during the period. Finally, Venture Visionary Partners LLC raised its holdings in The PNC Financial Services Group by 2.2% in the 2nd quarter. Venture Visionary Partners LLC now owns 2,677 shares of the financial services provider’s stock valued at $499,000 after buying an additional 58 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Down 0.5%

PNC stock opened at $200.90 on Wednesday. The company’s 50 day moving average price is $198.56 and its 200 day moving average price is $182.51. 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, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The firm has a market capitalization of $79.12 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 1.49 and a beta of 1.11.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $3.01 billion for the quarter, compared to analyst estimates of $5.61 billion. During the same period in the prior year, the firm earned $3.39 earnings per share. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, equities research analysts anticipate 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. Investors of record on Tuesday, July 15th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.4%. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.60. The ex-dividend date of this dividend was Tuesday, July 15th. The PNC Financial Services Group’s dividend payout ratio is currently 46.51%.

Analysts Set New Price Targets

Several brokerages recently issued reports on PNC. The Goldman Sachs Group boosted their price objective on shares of The PNC Financial Services Group from $178.00 to $196.00 and gave the company a “neutral” rating in a report on Wednesday, July 2nd. Morgan Stanley boosted their price objective on shares of The PNC Financial Services Group from $186.00 to $206.00 and gave the company an “underweight” rating in a report on Monday. Wall Street Zen upgraded shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Oppenheimer cut 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. Finally, Evercore ISI boosted their price target on shares of The PNC Financial Services Group from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Moderate Buy” and an average price target of $216.56.

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.