Mechanics Financial Corp Decreases Stake in The PNC Financial Services Group, Inc $PNC

Mechanics Financial Corp lessened its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 3.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,966 shares of the financial services provider’s stock after selling 154 shares during the quarter. Mechanics Financial Corp’s holdings in The PNC Financial Services Group were worth $926,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Saudi Central Bank purchased a new position in shares of The PNC Financial Services Group in the 1st quarter valued at about $27,000. Cornerstone Planning Group LLC boosted its stake in shares of The PNC Financial Services Group by 50.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after buying an additional 65 shares during the period. Opal Wealth Advisors LLC purchased a new stake in The PNC Financial Services Group during the first quarter worth approximately $35,000. WPG Advisers LLC purchased a new stake in The PNC Financial Services Group during the first quarter worth approximately $36,000. Finally, Fourth Dimension Wealth LLC purchased a new stake in The PNC Financial Services Group during the first quarter worth approximately $41,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on PNC. Truist Financial boosted their target price on The PNC Financial Services Group from $201.00 to $210.00 and gave the stock a “hold” rating in a research note on Wednesday, September 24th. Wolfe Research restated a “peer perform” rating on shares of The PNC Financial Services Group in a research note on Thursday, July 3rd. Morgan Stanley boosted their target price on The PNC Financial Services Group from $186.00 to $206.00 and gave the stock an “underweight” rating in a research note on Monday. Keefe, Bruyette & Woods upgraded The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $185.00 to $212.00 in a research note on Wednesday, July 9th. Finally, Raymond James Financial boosted their target price on The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, September 19th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group currently has an average rating of “Moderate Buy” and a consensus price target of $216.56.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $198.17 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.99. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $216.26. The stock has a 50 day moving average of $198.61 and a two-hundred day moving average of $182.79. The stock has a market cap of $78.04 billion, a P/E ratio of 13.55, a P/E/G ratio of 1.46 and a beta of 1.10.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.56 by $0.29. The business had revenue of $3.01 billion for the quarter, compared to analyst estimates 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 company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous 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. On average, research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th will be issued a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.4%. The PNC Financial Services Group’s 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.