The PNC Financial Services Group, Inc $PNC Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 4.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 2,575,486 shares of the financial services provider’s stock after selling 117,508 shares during the period. Bank of New York Mellon Corp’s holdings in The PNC Financial Services Group were worth $535,933,000 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. Monetary Solutions Ltd purchased a new position in The PNC Financial Services Group during the fourth quarter valued at $25,000. Quarry LP purchased a new stake in shares of The PNC Financial Services Group during the third quarter worth about $25,000. Modus Advisors LLC acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth about $29,000. Financial Life Planners acquired a new position in shares of The PNC Financial Services Group during the first quarter valued at approximately $31,000. Finally, Kemnay Advisory Services Inc. acquired a new position in The PNC Financial Services Group in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group News Summary

Here are the key news stories impacting The PNC Financial Services Group this week:

• Positive Sentiment: Several firms raised their price targets on PNC after the bank reported better-than-expected Q2 earnings, revenue, and record revenue from stronger capital markets activity and loan growth. Analyst target raise coverage
• Positive Sentiment: Analysts at Wells Fargo, Barclays, Oppenheimer, Robert W. Baird, Argus, RBC, Stephens, and Truist all lifted targets, with several maintaining bullish ratings such as overweight, outperform, and buy, signaling confidence in PNC’s earnings outlook. Analyst target raise coverage
• Positive Sentiment: PNC’s Q2 report showed EPS of $4.85 and revenue of $6.66 billion, both above estimates, while management raised its dividend 18% and forecast 2026 loan growth of about 12.5% and net interest income growth of 15%-15.5%. Reuters article
• Neutral Sentiment: Some commentary noted that expenses are also expected to rise alongside revenue, which could temper margin expansion even as operating momentum remains strong. American Banker article
• Negative Sentiment: Despite the earnings beat, one market reaction item noted shares slipped after the report because higher costs and declining deposits raised some concerns about the sustainability of the growth story. Zacks article

Insider Buying and Selling

In other news, EVP Stephanie Novosel sold 1,800 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $228.73, for a total value of $411,714.00. Following the transaction, the executive vice president owned 3,107 shares of the company’s stock, valued at $710,664.11. This represents a 36.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Andrew T. Feldstein sold 45,000 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total value of $9,925,650.00. Following the transaction, the director owned 10,749 shares of the company’s stock, valued at approximately $2,370,906.93. This represents a 80.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 48,300 shares of company stock worth $10,694,574. Company insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $255.24 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.85 and a quick ratio of 0.82. The company has a market capitalization of $102.50 billion, a PE ratio of 14.05, a price-to-earnings-growth ratio of 1.04 and a beta of 0.91. The firm’s 50-day moving average is $232.45 and its two-hundred day moving average is $223.26. The PNC Financial Services Group, Inc has a 12 month low of $176.88 and a 12 month high of $256.26.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share for the quarter, beating the consensus estimate of $4.46 by $0.39. The business had revenue of $6.66 billion during the quarter, compared to analysts’ expectations of $6.51 billion. The PNC Financial Services Group had a net margin of 21.41% and a return on equity of 12.48%. The business’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.85 EPS. Analysts predict that The PNC Financial Services Group, Inc will post 18.88 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Monday, July 20th will be given a $2.00 dividend. The ex-dividend date is Monday, July 20th. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.70. This represents a $8.00 annualized dividend and a yield of 3.1%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 39.51%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PNC shares. Robert W. Baird increased their price objective on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday. Morgan Stanley upped their price target on The PNC Financial Services Group from $267.00 to $278.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Stephens increased their price target on The PNC Financial Services Group from $265.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday. Bank of America lifted their price objective on The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Finally, Barclays boosted their price objective on The PNC Financial Services Group from $277.00 to $284.00 and gave the stock an “overweight” rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $264.97.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.