Price Action Alert: After Touching Record High, Is PNC Financial Services Group Inc’s Near-Term Analysis Positive?

Price Action Alert: After Touching Record High, Is PNC Financial Services Group Inc's Near Term Analysis Positive?

The stock of PNC Financial Services Group Inc (NYSE:PNC) reached all time high today, Nov, 18 and still has $177.38 target or 60.00% above today’s $110.86 share price. This indicates more upside for the $55.48B company. This technical setup was reported by Barchart.com. If the $177.38 PT is reached, the company will be worth $33.29 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 960,788 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. PNC Financial Services has been the topic of 37 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Argus Research upgraded the shares of PNC in a report on Monday, October 17 to “Buy” rating. The stock of PNC Financial Services Group Inc (NYSE:PNC) has “Underperform” rating given on Monday, May 9 by Raymond James. On Tuesday, November 24 the stock rating was initiated by Piper Jaffray with “Overweight”. Keefe Bruyette & Woods initiated PNC Financial Services Group Inc (NYSE:PNC) on Wednesday, August 31 with “Outperform” rating. The stock of PNC Financial Services Group Inc (NYSE:PNC) earned “Underperform” rating by KBW on Tuesday, August 11. The firm earned “Buy” rating on Friday, April 1 by Evercore. On Monday, July 18 the stock rating was maintained by Barclays Capital with “Equalweight”. The rating was upgraded by Bruyette & Woods;KBW; KBW” to “Mkt Perform” on Wednesday, September 2. KBW upgraded the shares of PNC in a report on Wednesday, September 2 to “Market Perform” rating. On Monday, October 10 the stock rating was downgraded by Nomura to “Neutral”.

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.
Royal London Asset Mgmt Limited has 170,421 shares for 0.23% of their US portfolio. First Bank Sioux Falls accumulated 0.03% or 100 shares. Franklin Resource, a California-based fund reported 8.62 million shares. Fjarde Ap reported 117,729 shares or 0.22% of all its holdings. Engineers Gate Manager Lp reported 103,348 shares or 0.6% of all its holdings. Employees Retirement System Of Texas owns 189,100 shares or 0.21% of their US portfolio. Loring Wolcott And Coolidge Fiduciary Advisors Llp Ma last reported 3,056 shares in the company. The Ohio-based Private Trust Na has invested 0.06% in PNC Financial Services Group Inc (NYSE:PNC). Signaturefd Ltd Liability Corp reported 1,010 shares or 0.01% of all its holdings. Cornerstone Inc accumulated 129 shares or 0.01% of the stock. Texas Permanent School Fund last reported 162,002 shares in the company. Gateway Investment Advisers Ltd Liability Company has 0.03% invested in the company for 37,746 shares. Madison Investment last reported 208,076 shares in the company. Bedrijfstakpensioenfonds Voor De Media Pno holds 12,400 shares or 0.14% of its portfolio. Gareth Morgan Invs Partnership holds 0.3% of its portfolio in PNC Financial Services Group Inc (NYSE:PNC) for 37,791 shares.

Insider Transactions: Since July 21, 2016, the stock had 1 buying transaction, and 8 insider sales for $37.52 million net activity. The insider HANNON MICHAEL J sold $2.38M. Van Wyk Steven C. also sold $536,749 worth of PNC Financial Services Group Inc (NYSE:PNC) on Monday, November 14. Kozich Gregory H sold $953,168 worth of PNC Financial Services Group Inc (NYSE:PNC) on Monday, October 31. 500 shares were bought by HESSE DANIEL, worth $41,220 on Thursday, July 21. Rockey Joseph E sold $1.52 million worth of stock. $2.10 million worth of PNC Financial Services Group Inc (NYSE:PNC) shares were sold by Reilly Robert Q. Shares for $19.35M were sold by DEMCHAK WILLIAM S.

More recent PNC Financial Services Group Inc (NYSE:PNC) news were published by: Prnewswire.com which released: “PNC Chief Executive to Speak at Goldman Sachs Investor Conference” on November 16, 2016. Also Bizjournals.com published the news titled: “PNC invests in health care tech firm” on November 18, 2016. Finance.Yahoo.com‘s news article titled: “Why PNC Financial (PNC) Stock Is a Buy Right Now” with publication date: November 18, 2016 was also an interesting one.

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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