The stock of PNC Financial Services Group Inc (NYSE:PNC) hit a new 52-week high and has $118.57 target or 7.00% above today’s $110.81 share price. The 8 months bullish chart indicates low risk for the $53.93 billion company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $118.57 price target is reached, the company will be worth $3.78B 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 1.88 million 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 $890.64 million for 15.14 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. As per Monday, October 17, the company rating was upgraded by Argus Research. The stock has “Buy” rating given by Deutsche Bank on Tuesday, September 8. The firm earned “Hold” rating on Monday, September 26 by Jefferies. The firm has “Neutral” rating by Nomura given on Wednesday, January 6. The rating was upgraded by KBW on Wednesday, September 2 to “Market Perform”. The firm has “Underperform” rating given on Tuesday, August 11 by Bruyette & Woods”. As per Monday, May 9, the company rating was downgraded by Raymond James. The rating was maintained by Barclays Capital on Monday, July 18 with “Equalweight”. The stock has “Overweight” rating given by Piper Jaffray on Tuesday, November 24. The firm has “Neutral” rating by Hilliard Lyons given on Friday, October 2.
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 is positive, 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.
Nationwide Fund last reported 639,747 shares in the company. Cna Fincl accumulated 0.25% or 12,604 shares. Canyon Advsr Limited Liability Com has invested 0.24% of its portfolio in PNC Financial Services Group Inc (NYSE:PNC). Moreover, State Of Wisconsin Invest Board has 0.27% invested in PNC Financial Services Group Inc (NYSE:PNC) for 820,652 shares. Fiduciary Tru Com, a Massachusetts-based fund reported 3,214 shares. Engineers Gate Manager L P holds 103,348 shares or 0.6% of its portfolio. Citigroup holds 0.03% of its portfolio in PNC Financial Services Group Inc (NYSE:PNC) for 417,681 shares. Mufg Americas has invested 0.05% of its portfolio in PNC Financial Services Group Inc (NYSE:PNC). Moreover, Jpmorgan Chase And Communications has 0.23% invested in PNC Financial Services Group Inc (NYSE:PNC) for 11.26 million shares. Perkins Inv Mgmt Lc accumulated 66,363 shares or 0.08% of the stock. Moreover, Ny State Common Retirement Fund has 0.18% invested in PNC Financial Services Group Inc (NYSE:PNC) for 1.54 million shares. Lombard Odier Asset Mngmt (Switzerland) Sa holds 0.03% or 2,658 shares in its portfolio. Moreover, Legal General Grp Inc Public Ltd Com has 0.21% invested in PNC Financial Services Group Inc (NYSE:PNC) for 2.40 million shares. Geode Cap Mgmt Ltd Com has invested 0.17% of its portfolio in PNC Financial Services Group Inc (NYSE:PNC). Essex Financial Serv owns 10,397 shares or 0.2% of their US portfolio.
Insider Transactions: Since July 21, 2016, the stock had 1 buy, and 8 sales for $37.52 million net activity. On Thursday, October 27 Reilly Robert Q sold $2.10 million worth of the stock or 22,000 shares. DEMCHAK WILLIAM S had sold 82,500 shares worth $7.86M on Thursday, October 27. $1.52M worth of PNC Financial Services Group Inc (NYSE:PNC) shares were sold by Rockey Joseph E. On Monday, August 8 the insider HANNON MICHAEL J sold $2.85 million. Kozich Gregory H sold $953,168 worth of PNC Financial Services Group Inc (NYSE:PNC) on Monday, October 31. 5,000 shares were sold by Van Wyk Steven C., worth $536,749. Another trade for 500 shares valued at $41,220 was bought by HESSE DANIEL.
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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