Price Action Don’t Lie: What’s in PNC Financial Services Group Inc After Reaching 52-Week High?

Price Action Don't Lie: What's in PNC Financial Services Group Inc After Reaching 52 Week High?

The stock of PNC Financial Services Group Inc (NYSE:PNC) hit a new 52-week high and has $151.11 target or 36.00% above today’s $111.11 share price. The 9 months bullish chart indicates low risk for the $55.61B company. The 1-year high was reported on Nov, 18 by Barchart.com. If the $151.11 price target is reached, the company will be worth $20.02B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 645,183 shares traded hands. PNC Financial Services Group Inc (NYSE:PNC) has risen 30.10% since April 18, 2016 and is uptrending. It has outperformed by 25.67% the S&P500.

PNC Financial Services Group Inc (NYSE:PNC) Ratings Coverage

Out of 18 analysts covering PNC Financial Services (NYSE:PNC), 5 rate it a “Buy”, 1 “Sell”, while 12 “Hold”. This means 28% are positive. $107 is the highest target while $86 is the lowest. The $97.54 average target is -12.21% below today’s ($111.11) stock price. PNC Financial Services has been the topic of 37 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The stock has “Neutral” rating given by Hilliard Lyons on Friday, October 2. The rating was upgraded by Deutsche Bank on Tuesday, September 8 to “Buy”. The firm earned “Neutral” rating on Monday, March 14 by Atlantic Securities. The rating was upgraded by Argus Research to “Buy” on Monday, October 17. KBW downgraded PNC Financial Services Group Inc (NYSE:PNC) rating on Tuesday, August 11. KBW has “Underperform” rating and $101 price target. The firm has “Buy” rating by Evercore given on Friday, April 1. Piper Jaffray initiated the stock with “Overweight” rating in Tuesday, November 24 report. The rating was downgraded by Bruyette & Woods” to “Underperform” on Tuesday, August 11. The rating was upgraded by Raymond James on Thursday, October 6 to “Mkt Perform”. The rating was initiated by Societe Generale on Tuesday, March 22 with “Hold”.

According to Zacks Investment Research, “The PNC Financial Services Group, Inc. is one of the nation’s largest diversified financial services organizations, providing regional banking, corporate banking, real estate finance, asset-based lending, wealth management, asset management and global fund services. (Company Press Release)”

Insitutional Activity: The institutional sentiment increased to 0.98 in Q2 2016. Its up 0.09, from 0.89 in 2016Q1. The ratio improved, as 59 funds sold all PNC Financial Services Group Inc shares owned while 337 reduced positions. 52 funds bought stakes while 299 increased positions. They now own 388.74 million shares or 0.81% less from 391.90 million shares in 2016Q1.
Moreover, Reliant Inv Mngmt Lc has 2.76% invested in PNC Financial Services Group Inc (NYSE:PNC) for 37,265 shares. Gabelli Funds Limited Co holds 0.3% of its portfolio in PNC Financial Services Group Inc (NYSE:PNC) for 633,000 shares. Btc Mgmt accumulated 1.41% or 80,164 shares. Amica Retiree Medical last reported 0.22% of its portfolio in the stock. Natl Bank Inc accumulated 2,624 shares or 0.1% of the stock. Tocqueville Asset Mngmt Lp last reported 0.01% of its portfolio in the stock. The Rhode Island-based Washington Company has invested 0.47% in PNC Financial Services Group Inc (NYSE:PNC). Parkside Bank Trust accumulated 336 shares or 0.01% of the stock. Richard C Young Co Limited accumulated 2.08% or 115,104 shares. Public Sector Pension Board reported 94,618 shares or 0.08% of all its holdings. Gateway Inv Advisers Ltd Co holds 37,746 shares or 0.03% of its portfolio. Catawba Va has invested 0.43% of its portfolio in PNC Financial Services Group Inc (NYSE:PNC). Security Trust reported 4,121 shares or 0.12% of all its holdings. Kanaly last reported 0.01% of its portfolio in the stock. Raymond James Financial Services Advsrs last reported 52,564 shares in the company.

Insider Transactions: Since July 21, 2016, the stock had 1 buy, and 8 selling transactions for $37.52 million net activity. 82,500 shares were sold by DEMCHAK WILLIAM S, worth $7.86 million on Thursday, October 27. Another trade for 10,000 shares valued at $953,168 was sold by Kozich Gregory H. 25,000 shares with value of $2.38 million were sold by HANNON MICHAEL J on Monday, October 31. Rockey Joseph E had sold 16,400 shares worth $1.52M on Friday, October 21. Reilly Robert Q also sold $2.10M worth of PNC Financial Services Group Inc (NYSE:PNC) on Thursday, October 27. $41,220 worth of PNC Financial Services Group Inc (NYSE:PNC) was bought by HESSE DANIEL on Thursday, July 21. 5,000 shares with value of $536,749 were sold by Van Wyk Steven C. on Monday, November 14.

More news for PNC Financial Services Group Inc (NYSE:PNC) were recently published by: Prnewswire.com, which released: “PNC Chief Executive to Speak at Goldman Sachs Investor Conference” on November 16, 2016. Finance.Yahoo.com‘s article titled: “Why PNC Financial (PNC) Stock Is a Buy Right Now” and published on November 18, 2016 is yet another important article.

PNC Company Profile

The PNC Financial Services Group, Inc. (PNC), incorporated on January 19, 1983, is a diversified financial services firm in the United States. The Firm has businesses engaged in retail banking, corporate and institutional banking, asset management and residential mortgage banking, providing its services and products nationally, as well as other services and products in its primary geographic markets located in Pennsylvania, Ohio, New Jersey, Michigan, Illinois, Maryland, Indiana, Florida, North Carolina, Kentucky, Washington, D.C., Delaware, Virginia, Alabama, Georgia, Missouri, Wisconsin and South Carolina. It also provides various services and products internationally. The Firm operates through six divisions: Retail Banking, Corporate & Institutional Banking, Asset Management Group, Residential Mortgage Banking, BlackRock and Non-Strategic Assets Portfolio.

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