Fifth Third Bancorp Sells 21,639 Shares of The PNC Financial Services Group, Inc $PNC

Fifth Third Bancorp reduced its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 2.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 720,961 shares of the financial services provider’s stock after selling 21,639 shares during the period. Fifth Third Bancorp owned about 0.18% of The PNC Financial Services Group worth $134,402,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Saudi Central Bank bought a new position in The PNC Financial Services Group during the first quarter valued at approximately $27,000. Cornerstone Planning Group LLC grew its holdings in shares of The PNC Financial Services Group by 50.8% in 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 during the last quarter. REAP Financial Group LLC grew its holdings in shares of The PNC Financial Services Group by 67.2% in 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 during the last quarter. Opal Wealth Advisors LLC bought a new position in shares of The PNC Financial Services Group in the first quarter worth approximately $35,000. Finally, WPG Advisers LLC bought a new position in shares of The PNC Financial Services Group in the first quarter worth approximately $36,000. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $203.95 on Wednesday. The stock has a fifty day moving average of $197.90 and a 200 day moving average of $181.43. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $216.26. The firm has a market capitalization of $80.32 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 1.50 and a beta of 1.11. 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 announced its quarterly 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 PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%.The company had revenue of $3.01 billion during the quarter, compared to analyst estimates of $5.61 billion. During the same quarter last year, the firm posted $3.39 earnings per share. The firm’s revenue was up 4.6% on a year-over-year basis. 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 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th were given a dividend of $1.70 per share. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, July 15th. The PNC Financial Services Group’s payout ratio is 46.51%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Raymond James Financial raised their target price 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. Bank of America raised their target price on shares of 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. Wolfe Research restated a “peer perform” rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. Wall Street Zen upgraded shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Finally, The Goldman Sachs Group raised their target price on shares of 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. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $214.50.

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.