Wesbanco Bank Inc. Increases Stock Holdings in The PNC Financial Services Group, Inc $PNC

Wesbanco Bank Inc. lifted its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 1.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 59,775 shares of the financial services provider’s stock after buying an additional 810 shares during the quarter. Wesbanco Bank Inc.’s holdings in The PNC Financial Services Group were worth $11,143,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings 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 buying an additional 248,252 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in The PNC Financial Services Group by 26.1% during 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 last quarter. Ameriprise Financial Inc. increased its holdings in The PNC Financial Services Group by 0.5% during 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 last quarter. Bank of New York Mellon Corp increased its holdings in The PNC Financial Services Group by 4.8% during 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 last quarter. Finally, Royal Bank of Canada increased its holdings in The PNC Financial Services Group by 5.3% during the 4th quarter. Royal Bank of Canada now owns 3,573,162 shares of the financial services provider’s stock worth $689,084,000 after purchasing an additional 179,760 shares during the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Wolfe Research restated a “peer perform” rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. Bank of America lifted their price objective on 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. Keefe, Bruyette & Woods upgraded The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and lifted their price objective for the stock from $185.00 to $212.00 in a report on Wednesday, July 9th. The Goldman Sachs Group lifted their price objective on 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. Finally, Truist Financial lifted their price objective on The PNC Financial Services Group from $189.00 to $198.00 and gave the stock a “hold” rating in a report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Moderate Buy” and an average price target of $213.67.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $202.15 on Friday. The firm has a market cap of $79.61 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 1.50 and a beta of 1.11. The stock has a 50 day moving average of $196.88 and a 200-day moving average of $180.48. 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 52 week low of $145.12 and a 52 week high of $216.26.

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 company had revenue of $3.01 billion during 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 business’s revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the firm earned $3.39 EPS. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS 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. Stockholders of record on Tuesday, July 15th were given a $1.70 dividend. 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 payout ratio is 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.