Truist Financial Corp Has $221.54 Million Stock Holdings in The PNC Financial Services Group, Inc $PNC

Truist Financial Corp increased its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 2.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,188,390 shares of the financial services provider’s stock after buying an additional 32,254 shares during the quarter. Truist Financial Corp owned 0.30% of The PNC Financial Services Group worth $221,540,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Powers Advisory Group LLC grew its position in The PNC Financial Services Group by 10.3% during the second quarter. Powers Advisory Group LLC now owns 1,506 shares of the financial services provider’s stock worth $281,000 after buying an additional 141 shares in the last quarter. LifeGuide Financial Advisors LLC acquired a new stake in The PNC Financial Services Group during the second quarter worth about $283,000. Park Place Capital Corp grew its position in The PNC Financial Services Group by 24.0% during the second quarter. Park Place Capital Corp now owns 2,900 shares of the financial services provider’s stock worth $558,000 after buying an additional 562 shares in the last quarter. Capital Investment Advisors LLC grew its position in The PNC Financial Services Group by 76.6% during the second quarter. Capital Investment Advisors LLC now owns 2,916 shares of the financial services provider’s stock worth $544,000 after buying an additional 1,265 shares in the last quarter. Finally, Northwest Wealth Management LLC acquired a new stake in The PNC Financial Services Group during the second quarter worth about $268,000. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Down 0.5%

Shares of PNC opened at $200.90 on Wednesday. The company has a market capitalization of $79.12 billion, a P/E ratio of 13.74, a PEG ratio of 1.49 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 PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26. The business’s 50 day simple moving average is $198.56 and its 200-day simple moving average is $182.51.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, topping the consensus estimate of $3.56 by $0.29. The business 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 return on equity of 11.07% and a net margin of 18.33%.The PNC Financial Services Group’s revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.39 EPS. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, sell-side analysts predict 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th were given a $1.70 dividend. This is a boost 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 annualized dividend and a yield of 3.4%. The PNC Financial Services Group’s dividend payout ratio is presently 46.51%.

Analysts Set New Price Targets

A number of research firms recently weighed in on PNC. Bank of America lifted their target price on The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. Truist Financial lifted their price objective on The PNC Financial Services Group from $201.00 to $210.00 and gave the company a “hold” rating in a report on Wednesday, September 24th. Keefe, Bruyette & Woods raised The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $185.00 to $212.00 in a report on Wednesday, July 9th. Piper Sandler lifted their price objective on The PNC Financial Services Group from $200.00 to $211.00 and gave the company a “neutral” rating in a report on Wednesday, September 10th. Finally, Stephens reaffirmed an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Moderate Buy” and a consensus target price 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.