5,709 Shares of The PNC Financial Services Group, Inc $PNC Acquired by Formidable Asset Management LLC

Formidable Asset Management LLC bought a new position in The PNC Financial Services Group, Inc (NYSE:PNC) in the third quarter, HoldingsChannel reports. The fund bought 5,709 shares of the financial services provider’s stock, valued at approximately $1,406,000.

Several other hedge funds and other institutional investors have also bought and sold shares of PNC. BlackRock Inc. purchased a new stake in shares of The PNC Financial Services Group during the 2nd quarter valued at about $7,921,455,000. State Street Corp raised its holdings in shares of The PNC Financial Services Group by 4.3% during the second quarter. State Street Corp now owns 18,434,446 shares of the financial services provider’s stock valued at $4,538,929,000 after purchasing an additional 765,097 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of The PNC Financial Services Group during the second quarter valued at approximately $2,102,631,000. Deutsche Bank AG purchased a new position in shares of The PNC Financial Services Group during the second quarter valued at approximately $1,054,189,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in The PNC Financial Services Group by 1.1% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,607,786 shares of the financial services provider’s stock valued at $888,309,000 after purchasing an additional 39,112 shares during the period. Institutional investors own 83.53% of the company’s stock.

Key Stories Impacting The PNC Financial Services Group

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

• Positive Sentiment: PNC Bank plans to expand to more than 370 new branches by 2031, including over 50 additional locations in South Carolina and Georgia. The expansion targets fast-growing markets and could support future customer and revenue growth, though returns will depend on execution. PNC Bank expands branch buildout
• Positive Sentiment: Sell-side analysts were reported to rate PNC a “Moderate Buy,” reflecting a generally favorable analyst view. Analyst rating coverage
• Neutral Sentiment: PNC presented at the BancAnalysts Association of Boston conference. The available headline provides no specific new financial outlook or business updates to assess. Conference transcript
• Negative Sentiment: PNC announced that Alexander E.C. Overstrom will become CFO, with current CFO Robert Q. Reilly moving to executive vice chairman in March 2027. The planned succession provides a transition timeline, but shares reportedly came under pressure after the announcement, suggesting investor concern about the leadership change. CFO transition announcement

Analysts Set New Price Targets

Several brokerages recently issued reports on PNC. Deutsche Bank Aktiengesellschaft cut shares of The PNC Financial Services Group from a “buy” rating to a “hold” rating and raised their target price for the stock from $230.00 to $265.00 in a report on Thursday, July 23rd. Evercore decreased their target price on shares of The PNC Financial Services Group from $265.00 to $260.00 and set an “outperform” rating for the company in a research note on Monday, October 19th. Keefe, Bruyette & Woods lowered their price target on The PNC Financial Services Group from $260.00 to $250.00 and set a “market perform” rating on the stock in a report on Friday, October 16th. Weiss Ratings reissued a “buy (b)” rating on shares of The PNC Financial Services Group in a report on Tuesday, October 13th. Finally, Oppenheimer raised their price target on The PNC Financial Services Group from $269.00 to $274.00 and gave the stock an “outperform” rating in a research note on Monday, November 2nd. Seventeen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $266.04.

Insider Buying and Selling

In other news, EVP Stacy Juchno sold 3,354 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $255.84, for a total value of $858,087.36. Following the transaction, the executive vice president owned 18,800 shares of the company’s stock, valued at $4,809,792. This trade represents a 15.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is currently owned by insiders.

The PNC Financial Services Group Trading Down 0.6%

Shares of PNC stock opened at $225.41 on Friday. The PNC Financial Services Group, Inc has a 1 year low of $177.08 and a 1 year high of $258.96. The firm has a fifty day moving average price of $228.58 and a 200-day moving average price of $229.20. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.84 and a quick ratio of 0.83. The company has a market cap of $89.44 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 1.16 and a beta of 0.92.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Thursday, October 15th. The financial services provider reported $5.09 EPS for the quarter, topping analysts’ consensus estimates of $4.91 by $0.18. The PNC Financial Services Group had a return on equity of 12.82% and a net margin of 21.83%. The company had revenue of $6.60 billion for the quarter, compared to analysts’ expectations of $6.61 billion. During the same period last year, the firm earned $4.35 EPS. The PNC Financial Services Group’s revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, equities analysts predict that The PNC Financial Services Group, Inc will post 19.24 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 5th. Shareholders of record on Wednesday, October 14th were given a $2.00 dividend. The ex-dividend date was Wednesday, October 14th. This represents a $8.00 dividend on an annualized basis and a yield of 3.5%. The PNC Financial Services Group’s dividend payout ratio is presently 42.58%.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. It serves consumers, small businesses, corporations, government entities and institutional clients through a range of banking and financial services.

PNC’s businesses include retail banking, corporate and institutional banking, and asset management. Its offerings include deposit accounts, lending, cash management, treasury services, investment and wealth management, and other financial products and services.

The company traces its history to 1852 and took its current name following the 1983 merger of Pittsburgh National Corporation and Provident National Corporation.