Canandaigua National Bank & Trust Co. Has $294,000 Position in The PNC Financial Services Group, Inc $PNC

Canandaigua National Bank & Trust Co. reduced its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 66.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,579 shares of the financial services provider’s stock after selling 3,076 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in The PNC Financial Services Group were worth $294,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA grew its position in The PNC Financial Services Group by 26.1% during the first 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 buying an additional 1,964,157 shares in the last quarter. Nuveen LLC acquired a new stake in The PNC Financial Services Group during the first quarter worth about $306,905,000. GAMMA Investing LLC grew its position in The PNC Financial Services Group by 19,279.5% during the first quarter. GAMMA Investing LLC now owns 1,149,008 shares of the financial services provider’s stock worth $201,961,000 after buying an additional 1,143,079 shares in the last quarter. Amundi grew its position in The PNC Financial Services Group by 76.1% during the first quarter. Amundi now owns 2,186,073 shares of the financial services provider’s stock worth $352,592,000 after buying an additional 944,731 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in The PNC Financial Services Group by 187.3% during the first quarter. AQR Capital Management LLC now owns 1,421,434 shares of the financial services provider’s stock worth $245,055,000 after buying an additional 926,709 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PNC shares. 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. Morgan Stanley lifted their target price on The PNC Financial Services Group from $179.00 to $186.00 and gave the stock an “underweight” rating in a research report on Thursday, July 17th. Raymond James Financial upgraded shares of The PNC Financial Services Group from a “market perform” rating to an “outperform” rating and set a $220.00 price target for the company in a research note on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods upgraded shares of The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and raised their price target for the stock from $185.00 to $212.00 in a research note on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $213.67.

The PNC Financial Services Group Stock Down 0.7%

NYSE:PNC opened at $200.95 on Wednesday. The stock’s fifty day moving average price is $197.06 and its two-hundred day moving average price is $180.64. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $216.26. 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 company has a market cap of $79.14 billion, a price-to-earnings ratio of 13.74, a P/E/G ratio of 1.49 and a beta of 1.11.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data 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 PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%.The firm had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $5.61 billion. During the same quarter in the prior year, the business earned $3.39 EPS. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Increases Dividend

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

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.