PNC Financial Services Group Stock Price, News & Analysis

The PNC Financial Services Group declared a quarterly cash dividend of $1.25 per share on common stock payable on Feb. 5, 2022. Shareholders on record by Jan. 18, 2022 will receive the dividend. Additionally, dividends for preferred stocks include 45 cents for Series B, $973.57 for Series O, $1,531.25 for Series P, and $850.00 for Series T, with respective payment dates between Feb. 1 and March 15, 2022.

The PNC Financial Services Group appointed Robert A. Niblock to its board of directors as of January 5, 2022. Niblock, who retired as CEO of Lowe's in 2018, has a strong financial background, having overseen revenue growth from $36.5 billion to $68.6 billion during his tenure. He also significantly expanded Lowe's digital business. PNC's chairman stated that Niblock's expertise in finance and retail will support the company’s growth strategy.

Harris Williams announced its advisory role in the sale of America’s Auto Auction (AAA) and Auction Credit Enterprises (ACE) to XLerate Group, a Brightstar Capital Partners portfolio company. AAA, a leading vehicle auction provider, operates 23 auction sites across 15 states, while ACE provides vehicle financing. This transaction reflects the ongoing investor interest in scalable platforms within the automotive sector. Trinity Hunt Partners, a private equity firm with over $1.2 billion in assets, was the previous owner.

Harris Williams has advised Magnate Worldwide (MWW), a supply chain management company, on its sale to Littlejohn & Co. LLC. MWW specializes in third-party logistics and has experienced growth under CIVC Partners, its previous owner. The transaction highlights increasing demand for specialized 3PL providers amidst complex global supply chains. Harris Williams praised MWW's management team for their dedication to customer service. Littlejohn, with roughly $14 billion in assets under management, aims to drive sustainable success for its new portfolio company.

Harris Williams is advising Valley Proteins on its sale to Darling Ingredients Inc. Valley Proteins excels in recovering and recycling animal by-products and waste cooking oil, contributing to sustainable solutions in animal feed and renewable fuels. The company operates 18 production facilities and employs 1,900 staff across 12 states. Darling, a global leader in organic ingredients, focuses on sustainable protein and fat products, enhancing its capabilities in renewable clean energy. This acquisition positions both companies to benefit from the growing demand for environmentally friendly solutions.

Harris Williams, a global investment bank, has advised TTG Imaging Solutions on its sale to Sentinel Capital Partners. TTG is a key player in nuclear medicine and molecular imaging solutions, known for its high-quality maintenance and repair services. The transaction highlights the growth potential in the outsourced medical device services market, driven by increasing demand for independent service providers. TTG aims to enhance its customer service and operational efficiency while expanding its footprint in the healthcare sector.

Harris Williams advised WhiteWater Express Carwash on its recapitalization led by Freeman Spogli. Founded in 2016 and based in Houston, WhiteWater operates 60 locations across Texas, Oklahoma, Ohio, Kentucky, and Michigan. The firm has experienced significant growth through acquisitions and a 'land and expand' strategy. SkyKnight Capital, managing over $2 billion, is a key investor. WhiteWater's transaction reflects strong investor interest in the car wash sector, supported by positive industry trends.

Harris Williams is advising RegO, a leader in flow control solutions, on its sale to Dover Corporation. Recognized for its quality and innovation, RegO has established a strong market position since 1908, serving the LPG, LNG, and industrial gas sectors. The transaction capitalizes on the growing interest in flow control assets, particularly those supporting alternative energy. Windjammer Capital Investors, RegO’s parent company, has successfully managed over $2 billion in capital and made significant investments in niche markets.

Harris Williams advised Convergint Technologies, backed by Ares Management Corporation (ARES), on an investment from Leonard Green & Partners and Harvest Partners. Convergint, a $1.8 billion global leader in systems integration, specializes in electronic security and fire safety. The addition of these investors is expected to enhance Convergint's resources and capabilities, supporting exceptional customer service and colleague development. Ares Management manages approximately $282 billion in assets, while Leonard Green has over $50 billion in assets under management.