Look For Institutional Buying In PNC Financial Services Group Inc (NYSE: PNC)

PNC Financial Services Group Inc (PNC) concluded trading on Thursday at a closing price of $168.30, with 3.22 million shares of worth about $541.37 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 8.92% during that period and on July 11, 2024 the price saw a gain of about 2.43%. Currently the company’s common shares owned by public are about 398.03M shares, out of which, 396.29M shares are available for trading.

Stock saw a price change of 6.66% in past 5 days and over the past one month there was a price change of 10.22%. Year-to-date (YTD), PNC shares are showing a performance of 8.69% which increased to 33.05% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $109.40 but also hit the highest price of $164.46 during that period. The average intraday trading volume for PNC Financial Services Group Inc shares is 1.56 million. The stock is currently trading 8.61% above its 20-day simple moving average (SMA20), while that difference is up 8.16% for SMA50 and it goes to 16.22% higher than SMA200.

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PNC Financial Services Group Inc (NYSE: PNC) currently have 398.03M outstanding shares and institutions hold larger chunk of about 83.98% of that.

The stock has a current market capitalization of $66.97B and its 3Y-monthly beta is at 1.15. PE ratio of stock for trailing 12 months is 14.14, while it has posted earnings per share of $11.90 in the same period. Its PEG reads 2.94 while making debt-to-equity ratio of 1.44. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PNC, volatility over the week remained 2.02% while standing at 1.79% over the month.

Stock’s fiscal year EPS is expected to drop by -1.08% while it is estimated to increase by 14.09% in next year. EPS is likely to grow at an annualized rate of 4.82% for next 5-years, compared to annual growth of 3.61% made by the stock over the past 5-years.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by UBS on July 08, 2024 offering a Buy rating for the stock and assigned a target price range of between $165 and $179 to it. Coverage by HSBC Securities stated PNC Financial Services Group Inc (PNC) stock as a Hold in their note to investors on March 28, 2024, suggesting a price target of $155 for the stock. Stock get a Reduce rating from HSBC Securities on September 07, 2023.

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