The PNC Financial Services Group, Inc. has been providing customers with Financial Services for over 160 years. This includes investment banking, asset management, retail banking, and wealth management. In recent years, PNC has increased their dividend four times. With that in mind, PNC is a compelling investment opportunity.
investment banking has also taken a hit. This likely explains why shares of The PNC Financial Services Group, Inc. (NYSE:PNC) dropped by 22% from its all-time high in the first quarter of 2021. However, despite the drop, the stock is still up nearly 10% year-to-date.
Cetera investment Advisers now owns 16,141 shares of the Financial Services provider’s stock worth $2,977,000 after acquiring an additional 2,541 shares during the period. PNC Financial Services Group Inc. purchased a new stake in shares of Intercept Pharmaceuticals Inc (NASDAQ:ICPT) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission.
Any investment recommended here in should be made only after consulting with your personal investment advisor and only after performing your own research and due diligence. PNC Financial Services Group Inc. now owns 3,828 shares of the specialty pharmaceutical company’s stock valued at $108,000 after purchasing an additional 2,053 shares in the last quarter.
PNC also has a commitment to responsible investing. Since then, PNC has completed $9 billion in environmental financing and has committed to the U.S. Department of Treasury’s Green Bond Program, which pledges $88 billion in loans, investment, and other Financial Services to support the transition to a low-carbon economy.
While cash flow can come from bond interest or interest from other types of investment, income investors hone in on dividends. A dividend is a payment made by a company to its shareholders, usually as a reward for investing in the company. PNC Financial Services Group Inc. now owns 2,912 shares of the industrial products company’s stock worth $94,000 after purchasing an additional 1,587 shares in the last quarter.
PNC has a history of increasing its dividend. The company has increased its dividend annually for the past five years, and its current dividend yield is 3.1%. Furthermore, the dividend payout ratio of PNC is only 28%, which indicates that there is room for future dividend increases.
But investment banking revenue started falling in the second half of fiscal 2021, after the Federal Reserve began hiking interest rates — a development that has weighed on bank stock in general. PNC is no exception, with its stock price falling 22% from its all-time high as of this writing.
However, despite the recent drop, PNC is still up 10% year-to-date, indicating that investors are still bullish on the bank’s future prospects. PNC has a long history of providing Financial Services to its customers, and with its commitment to responsible investing, it is a compelling long-term investment opportunity.
