Forbes J M & Co. LLP Sells 435 Shares of The PNC Financial Services Group, Inc $PNC

Forbes J M & Co. LLP reduced its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 13.0% in the second quarter, Holdings Channel.com reports. The fund owned 2,907 shares of the financial services provider’s stock after selling 435 shares during the quarter. Forbes J M & Co. LLP’s holdings in The PNC Financial Services Group were worth $542,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Ignite Planners LLC lifted its position in The PNC Financial Services Group by 8.4% during the first quarter. Ignite Planners LLC now owns 1,628 shares of the financial services provider’s stock valued at $262,000 after purchasing an additional 126 shares during the last quarter. Exane Asset Management lifted its position in The PNC Financial Services Group by 32.9% during the first quarter. Exane Asset Management now owns 149,783 shares of the financial services provider’s stock valued at $28,434,000 after purchasing an additional 37,110 shares during the last quarter. Smith Salley Wealth Management lifted its position in The PNC Financial Services Group by 15.6% during the first quarter. Smith Salley Wealth Management now owns 72,844 shares of the financial services provider’s stock valued at $12,804,000 after purchasing an additional 9,836 shares during the last quarter. United Community Bank lifted its position in The PNC Financial Services Group by 687.0% during the first quarter. United Community Bank now owns 12,325 shares of the financial services provider’s stock valued at $2,166,000 after purchasing an additional 10,759 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC lifted its position in The PNC Financial Services Group by 4.5% during the first quarter. Kingswood Wealth Advisors LLC now owns 2,802 shares of the financial services provider’s stock valued at $493,000 after purchasing an additional 120 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Down 0.5%

Shares of NYSE PNC opened at $200.90 on Wednesday. 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, 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 company has a market cap of $79.12 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 1.49 and a beta of 1.11.

The PNC Financial Services Group (NYSE:PNC) last issued 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 PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $5.61 billion. During the same period in the previous year, the firm earned $3.39 earnings per share. The firm’s revenue for the quarter 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. On average, equities research analysts expect 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 $1.70 dividend. The ex-dividend date of this dividend was Tuesday, July 15th. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a dividend yield of 3.4%. The PNC Financial Services Group’s payout ratio is presently 46.51%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Raymond James Financial lifted their target price on shares of The PNC Financial Services Group from $220.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. Stephens restated an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday, September 10th. Evercore ISI boosted their price objective on shares of The PNC Financial Services Group from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Tuesday. Bank of America boosted their price objective 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. Finally, The Goldman Sachs Group boosted their price objective on shares of 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, eleven have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $216.56.

The PNC Financial Services Group Company 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.