Breaking: What Next for PNC Financial Services Group Inc Stock After Making All Time High?

Breaking: What Next for PNC Financial Services Group Inc Stock After Making All Time High?

The stock of PNC Financial Services Group Inc (NYSE:PNC) reached all time high today, Nov, 23 and still has $116.28 target or 5.00% above today’s $110.74 share price. This indicates more upside for the $53.90 billion company. This technical setup was reported by Barchart.com. If the $116.28 PT is reached, the company will be worth $2.70 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 420,092 shares traded hands. PNC Financial Services Group Inc (NYSE:PNC) has risen 26.57% since April 21, 2016 and is uptrending. It has outperformed by 21.24% the S&P500.

Analysts await PNC Financial Services Group Inc (NYSE:PNC) to report earnings on January, 13 before the open. They expect $1.83 earnings per share, down 2.14% or $0.04 from last year’s $1.87 per share. PNC’s profit will be $890.71M for 15.13 P/E if the $1.83 EPS becomes a reality. After $1.84 actual earnings per share reported by PNC Financial Services Group Inc for the previous quarter, Wall Street now forecasts -0.54% negative EPS growth.

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. 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 Nomura on Monday, April 25. Hilliard Lyons initiated it with “Neutral” rating and $94 target price in Friday, October 2 report. The stock of PNC Financial Services Group Inc (NYSE:PNC) has “Underperform” rating given on Tuesday, August 11 by Bruyette & Woods”. Keefe Bruyette & Woods initiated the shares of PNC in a report on Wednesday, August 31 with “Outperform” rating. The stock of PNC Financial Services Group Inc (NYSE:PNC) has “Market Perform” rating given on Wednesday, September 2 by KBW. On Tuesday, August 11 the stock rating was downgraded by KBW to “Underperform”. The firm earned “Mkt Perform” rating on Wednesday, September 2 by Bruyette & Woods;KBW; KBW”. Wood downgraded PNC Financial Services Group Inc (NYSE:PNC) on Tuesday, August 11 to “Market Perform” rating. The stock of PNC Financial Services Group Inc (NYSE:PNC) earned “Equalweight” rating by Barclays Capital on Monday, July 18. The stock has “Neutral” rating given by Nomura on Monday, October 10.

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 2016 Q2. 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, Tci Wealth Advisors Inc has 0.02% invested in PNC Financial Services Group Inc (NYSE:PNC) for 393 shares. Counselors Inc reported 92,568 shares or 0.45% of all its holdings. Synovus Corp reported 13,220 shares or 0.02% of all its holdings. Benin Mngmt Corp reported 85,723 shares or 3.61% of all its holdings. The Rhode Island-based Parsons Ri has invested 0.04% in PNC Financial Services Group Inc (NYSE:PNC). Bancorp Of America Corporation De last reported 5.39M shares in the company. Capital Va last reported 29,057 shares in the company. National Invest Services Wi last reported 2.18% of its portfolio in the stock. The Washington-based Cornerstone has invested 0.01% in PNC Financial Services Group Inc (NYSE:PNC). First Allied Advisory has invested 0.03% of its portfolio in PNC Financial Services Group Inc (NYSE:PNC). Thompson Davis & holds 0.03% of its portfolio in PNC Financial Services Group Inc (NYSE:PNC) for 204 shares. Moreover, Nationwide Fund Advsr has 0.23% invested in PNC Financial Services Group Inc (NYSE:PNC) for 639,747 shares. Moreover, Palisade Cap Management Lc Nj has 0.02% invested in PNC Financial Services Group Inc (NYSE:PNC) for 6,507 shares. Dimensional Fund Lp holds 0.14% of its portfolio in PNC Financial Services Group Inc (NYSE:PNC) for 3.05 million shares. Guardian Life Insurance Communications Of America holds 1,879 shares or 0.01% of its portfolio.

Insider Transactions: Since July 21, 2016, the stock had 1 insider purchase, and 8 selling transactions for $37.52 million net activity. The insider HANNON MICHAEL J sold 25,000 shares worth $2.38M. DEMCHAK WILLIAM S had sold 179,809 shares worth $19.35 million on Monday, November 14. Kozich Gregory H sold $953,168 worth of stock or 10,000 shares. Another trade for 500 shares valued at $41,220 was made by HESSE DANIEL on Thursday, July 21. Van Wyk Steven C. had sold 5,000 shares worth $536,749 on Monday, November 14. 22,000 shares were sold by Reilly Robert Q, worth $2.10 million. $1.52M worth of PNC Financial Services Group Inc (NYSE:PNC) was sold by Rockey Joseph E on Friday, October 21.

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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