The PNC Financial Services Group, Inc $PNC Shares Purchased by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. boosted its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 0.9% during the second quarter, Holdings Channel.com reports. The fund owned 20,069 shares of the financial services provider’s stock after purchasing an additional 185 shares during the quarter. Salem Investment Counselors Inc.’s holdings in The PNC Financial Services Group were worth $3,741,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PNC. Saudi Central Bank acquired a new position in The PNC Financial Services Group in the first quarter valued at $27,000. Cornerstone Planning Group LLC lifted its stake in shares of The PNC Financial Services Group by 50.8% during the first quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 65 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of The PNC Financial Services Group during the first quarter worth about $35,000. WPG Advisers LLC acquired a new position in shares of The PNC Financial Services Group during the first quarter worth about $36,000. Finally, REAP Financial Group LLC lifted its stake in shares of The PNC Financial Services Group by 67.2% during the fourth quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 80 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Citigroup boosted their price objective on The PNC Financial Services Group from $205.00 to $217.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. Piper Sandler boosted their price objective on The PNC Financial Services Group from $200.00 to $211.00 and gave the stock a “neutral” rating in a research note on Wednesday. Oppenheimer raised The PNC Financial Services Group from a “market perform” rating to an “outperform” rating and set a $238.00 target price on the stock in a research report on Wednesday, July 30th. Bank of America lifted their target price on The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of The PNC Financial Services Group in a research report on Thursday, July 3rd. 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 stock. Based on data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Moderate Buy” and an average target price of $213.67.

The PNC Financial Services Group Price Performance

NYSE:PNC opened at $202.15 on Friday. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year 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 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 firm’s fifty day moving average is $196.88 and its two-hundred day moving average is $180.48.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share for the quarter, topping analysts’ consensus estimates of $3.56 by $0.29. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $5.61 billion. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The company’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.39 earnings per share. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Research analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Increases Dividend

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