Meritage Portfolio Management Acquires Shares of 26,751 The PNC Financial Services Group, Inc $PNC

Meritage Portfolio Management purchased a new stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 26,751 shares of the financial services provider’s stock, valued at approximately $4,987,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Saudi Central Bank bought a new position in shares of The PNC Financial Services Group during the first quarter valued at $27,000. Cornerstone Planning Group LLC increased its holdings in shares of The PNC Financial Services Group by 50.8% during the first quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 65 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in shares of The PNC Financial Services Group during the first quarter valued at $35,000. WPG Advisers LLC bought a new position in shares of The PNC Financial Services Group during the first quarter valued at $36,000. Finally, Fourth Dimension Wealth LLC bought a new position in shares of The PNC Financial Services Group during the first quarter valued at $41,000. 83.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PNC shares. Piper Sandler upgraded The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and raised their price target for the company from $211.00 to $220.00 in a report on Thursday. Raymond James Financial raised their price target on The PNC Financial Services Group from $220.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, September 19th. Wolfe Research restated a “peer perform” rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. Morgan Stanley lifted their price objective on The PNC Financial Services Group from $186.00 to $206.00 and gave the stock an “underweight” rating in a report on Monday, September 29th. Finally, The Goldman Sachs Group lifted their price objective on The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a “neutral” rating in a report on Wednesday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $218.21.

The PNC Financial Services Group Trading Down 3.6%

Shares of NYSE:PNC opened at $183.72 on Friday. The stock has a market capitalization of $72.35 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 1.36 and a beta of 1.10. 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 stock’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 PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share (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 analysts’ expectations 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 business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period last year, the firm posted $3.39 earnings per share. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Analysts expect 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 given 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 (DPR) is presently 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.