Canopy Partners LLC Sells 2,987 Shares of The PNC Financial Services Group, Inc $PNC

Canopy Partners LLC trimmed its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 29.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,209 shares of the financial services provider’s stock after selling 2,987 shares during the period. Canopy Partners LLC’s holdings in The PNC Financial Services Group were worth $1,344,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PNC. Vanguard Group Inc. raised its stake in The PNC Financial Services Group by 0.7% in the first quarter. Vanguard Group Inc. now owns 37,965,619 shares of the financial services provider’s stock worth $6,673,217,000 after buying an additional 248,252 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in The PNC Financial Services Group by 26.1% in the first 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 buying an additional 1,964,157 shares in the last quarter. Ameriprise Financial Inc. raised its stake in The PNC Financial Services Group by 0.5% in the first quarter. Ameriprise Financial Inc. now owns 4,807,684 shares of the financial services provider’s stock worth $844,967,000 after buying an additional 24,588 shares in the last quarter. Bank of New York Mellon Corp raised its stake in The PNC Financial Services Group by 4.8% in the first 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 buying an additional 186,249 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in The PNC Financial Services Group by 41.8% in the first quarter. Goldman Sachs Group Inc. now owns 2,818,090 shares of the financial services provider’s stock worth $495,336,000 after buying an additional 830,440 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $193.98 on Wednesday. The firm has a market cap of $76.39 billion, a P/E ratio of 13.27, a PEG ratio of 1.44 and a beta of 1.10. The company has a 50 day moving average of $198.71 and a 200 day moving average of $183.33. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $216.26. 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 (NYSE:PNC) last posted its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 EPS 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 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 quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the company 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, research analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders 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 3.5%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.51%.

Analyst Ratings Changes

A number of research firms recently issued reports on PNC. Citigroup increased their price target on shares of The PNC Financial Services Group from $217.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Piper Sandler upped their price objective on shares of The PNC Financial Services Group from $200.00 to $211.00 and gave the stock a “neutral” rating in a report on Wednesday, September 10th. Raymond James Financial upped their price objective on shares of The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, September 19th. Wolfe Research restated a “peer perform” rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. Finally, UBS Group upped their price objective on shares of The PNC Financial Services Group from $224.00 to $229.00 and gave the stock a “buy” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $217.74.

The PNC Financial Services Group 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.