Truist Financial Corp Buys 32,254 Shares of The PNC Financial Services Group, Inc $PNC

Truist Financial Corp raised its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 2.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,188,390 shares of the financial services provider’s stock after purchasing an additional 32,254 shares during the quarter. Truist Financial Corp’s holdings in The PNC Financial Services Group were worth $221,540,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of The PNC Financial Services Group by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 37,965,619 shares of the financial services provider’s stock valued at $6,673,217,000 after acquiring an additional 248,252 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in The PNC Financial Services Group by 26.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,502,467 shares of the financial services provider’s stock worth $1,670,249,000 after purchasing an additional 1,964,157 shares during the period. Ameriprise Financial Inc. boosted its stake in The PNC Financial Services Group by 0.5% in the 1st quarter. Ameriprise Financial Inc. now owns 4,807,684 shares of the financial services provider’s stock worth $844,967,000 after purchasing an additional 24,588 shares during the period. Bank of New York Mellon Corp boosted its stake in The PNC Financial Services Group by 4.8% in the 1st quarter. Bank of New York Mellon Corp now owns 4,056,797 shares of the financial services provider’s stock worth $713,063,000 after purchasing an additional 186,249 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of The PNC Financial Services Group by 41.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,818,090 shares of the financial services provider’s stock worth $495,336,000 after buying an additional 830,440 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $200.90 on Wednesday. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $216.26. The firm’s fifty day moving average is $198.56 and its 200-day moving average is $182.51. The firm has a market cap of $79.12 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 1.49 and a beta of 1.11. 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 (NYSE:PNC) last announced 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 business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $5.61 billion. During the same quarter last year, the firm earned $3.39 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 4.6% on a year-over-year basis. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Sell-side analysts predict that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th were paid a dividend of $1.70 per share. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Tuesday, July 15th. The PNC Financial Services Group’s payout ratio is 46.51%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PNC shares. Piper Sandler increased their price objective on shares of The PNC Financial Services Group from $200.00 to $211.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 10th. Stephens reissued an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a report on Wednesday, September 10th. Bank of America raised their target price on shares of The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Wolfe Research reaffirmed a “peer perform” rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. Finally, Morgan Stanley increased their price target on shares of The PNC Financial Services Group from $186.00 to $206.00 and gave the stock an “underweight” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.