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

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

The stock of PNC Financial Services Group Inc (NYSE:PNC) hit a new 52-week high and has $118.70 target or 6.00% above today’s $111.98 share price. The 9 months bullish chart indicates low risk for the $55.42B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $118.70 price target is reached, the company will be worth $3.33B 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 5.43M shares traded hands or 50.00% up from the average. PNC Financial Services Group Inc (NYSE:PNC) has risen 25.34% since April 28, 2016 and is uptrending. It has outperformed by 19.42% 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 EPS, down 2.14% or $0.04 from last year’s $1.87 per share. PNC’s profit will be $905.68M for 15.30 P/E if the $1.83 EPS becomes a reality. After $1.84 actual EPS 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), 4 rate it a “Buy”, 1 “Sell”, while 13 “Hold”. This means 22% are positive. PNC Financial Services has been the topic of 38 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The stock has “Outperform” rating given by Keefe Bruyette & Woods on Wednesday, August 31. As per Tuesday, August 11, the company rating was downgraded by KBW. The company was maintained on Monday, April 25 by Nomura. Nomura downgraded PNC Financial Services Group Inc (NYSE:PNC) on Monday, October 10 to “Neutral” rating. Keefe Bruyette & Woods downgraded PNC Financial Services Group Inc (NYSE:PNC) on Tuesday, November 29 to “Mkt Perform” rating. The firm earned “Buy” rating on Friday, April 1 by Evercore. The firm has “Neutral” rating by Atlantic Securities given on Monday, March 14. The stock has “Market Perform” rating given by Wood on Tuesday, August 11. As per Tuesday, March 22, the company rating was initiated by Societe Generale. The firm has “Underperform” rating by Bruyette & Woods” given on Tuesday, August 11.

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, Iberiabank has 0.21% invested in PNC Financial Services Group Inc (NYSE:PNC) for 5,669 shares. Fisher Asset Management Ltd Limited Liability Company holds 0.01% or 74,868 shares in its portfolio. Metropolitan Life New York last reported 260,373 shares in the company. Boston Family Office Limited owns 4,395 shares or 0.05% of their US portfolio. Moreover, Decatur Cap Mgmt has 1.54% invested in PNC Financial Services Group Inc (NYSE:PNC) for 140,235 shares. Peapack Gladstone holds 0% of its portfolio in PNC Financial Services Group Inc (NYSE:PNC) for 73,672 shares. Perkins Inv Management Limited Co, a Illinois-based fund reported 66,363 shares. First Corp In holds 0.06% or 1,250 shares in its portfolio. Cap Fund Management holds 71,150 shares or 0.05% of its portfolio. Advisory Service Networks Ltd Liability, a Georgia-based fund reported 170 shares. Shelton Capital Management holds 0.15% or 20,954 shares in its portfolio. Moreover, Dean Assocs Ltd Co has 0.81% invested in PNC Financial Services Group Inc (NYSE:PNC) for 50,893 shares. Hl Svcs Ltd Liability Corporation last reported 0.3% of its portfolio in the stock. Gradient Invs Limited Liability Corp holds 0.01% of its portfolio in PNC Financial Services Group Inc (NYSE:PNC) for 820 shares. Bokf Na holds 0.15% of its portfolio in PNC Financial Services Group Inc (NYSE:PNC) for 52,604 shares.

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

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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