The PNC Financial Services Group, Inc $PNC Shares Bought by Matrix Asset Advisors Inc. NY

Matrix Asset Advisors Inc. NY raised its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 13.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 190,265 shares of the financial services provider’s stock after purchasing an additional 22,125 shares during the period. The PNC Financial Services Group comprises 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Saudi Central Bank acquired a new position in The PNC Financial Services Group in the first quarter valued at $27,000. Cornerstone Planning Group LLC boosted its stake 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 acquiring an additional 65 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in The PNC Financial Services Group in the first quarter valued at $35,000. WPG Advisers LLC acquired a new position in The PNC Financial Services Group in the first quarter valued at $36,000. Finally, Fourth Dimension Wealth LLC acquired a new position in The PNC Financial Services Group in the first quarter valued at $41,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Citigroup upped their price objective on shares of The PNC Financial Services Group from $217.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. Morgan Stanley increased 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. Weiss Ratings reiterated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Wednesday. Wells Fargo & Company increased their target price on shares of The PNC Financial Services Group from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, October 3rd. Finally, The Goldman Sachs Group increased their target price on shares of The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 2nd. One investment 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $218.21.

The PNC Financial Services Group Trading Down 3.6%

NYSE 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 PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $216.26. The firm has a 50-day moving average price of $198.64 and a 200 day moving average price of $183.56. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.99.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly 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 firm had revenue of $3.01 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period 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. Equities research 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 declared a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th will be issued a dividend of $1.70 per share. 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 currently 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.