Matrix Asset Advisors Inc. NY Acquires 22,125 Shares of The PNC Financial Services Group, Inc $PNC

Matrix Asset Advisors Inc. NY boosted its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 13.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 190,265 shares of the financial services provider’s stock after acquiring an additional 22,125 shares during the period. The PNC Financial Services Group accounts for about 3.6% of Matrix Asset Advisors Inc. NY’s portfolio, making the stock its 5th largest holding. Matrix Asset Advisors Inc. NY’s holdings in The PNC Financial Services Group were worth $35,469,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Saudi Central Bank purchased a new stake in The PNC Financial Services Group in the first quarter valued at approximately $27,000. Cornerstone Planning Group LLC raised its position in The PNC Financial Services Group by 50.8% in the first quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 65 shares during the period. Opal Wealth Advisors LLC purchased a new stake in The PNC Financial Services Group in the first quarter valued at approximately $35,000. WPG Advisers LLC purchased a new stake in The PNC Financial Services Group in the first quarter valued at approximately $36,000. Finally, Fourth Dimension Wealth LLC purchased a new stake in The PNC Financial Services Group in the first quarter valued at approximately $41,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PNC. Wall Street Zen raised The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Wolfe Research reissued a “peer perform” rating on shares of The PNC Financial Services Group in a research report on Thursday, July 3rd. Bank of America boosted their target price on The PNC Financial Services Group from $223.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of The PNC Financial Services Group in a research report on Wednesday. Finally, UBS Group upped their price objective on The PNC Financial Services Group from $224.00 to $229.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $218.21.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $183.72 on Friday. The firm has a market capitalization of $72.35 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 1.36 and a beta of 1.10. The business’s fifty day moving average price is $198.64 and its 200 day moving average price is $183.56. 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 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) last posted its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, beating the consensus estimate of $3.56 by $0.29. The firm had revenue of $3.01 billion for the quarter, compared to analyst estimates 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 PNC Financial Services Group’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 company posted $3.39 earnings per share. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

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

The PNC Financial Services Group 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.