The PNC Financial Services Group Inc. (NYSE: PNC) stock fell -1.02% on Wednesday to $120.25 against a previous-day closing price of $121.49. With 2.06 million shares changed hands, the volume of the stock remained lighter than its average volume of 4.5 million shares. During the session, the Banks – Regional company that operates in wider Financial sector, reached to the highest price of $120.83 whereas the lowest price it dropped to was $119.29. The 52-week range on PNC shows that it touched its highest point at $176.47 and its lowest point at $110.31 during that stretch. It currently has a 1-year price target of $142.82. With its current market cap of 48.67 billion, PNC has annualized dividend of $6.00 while the current yield stands at 4.99%. Beta for the stock currently stands at 1.11.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PNC was up-trending over the past week, with a rise of 0.84%, but this was down by -2.79% over a month. Three-month performance dropped to -23.94% while six-month performance fell -26.07%. The stock lost -25.85% in the past year, while it has lost -23.86% so far this year. A look at the trailing 12-month EPS for PNC yields 14.60 with Next year EPS estimates of 13.49. For the next quarter, that number is 3.31. This implies an EPS growth rate of 9.10% for this year and -2.81% for next year. EPS is expected to grow by 10.96% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 11.80%.
Float and Shares Shorts:
At present, 401.00 million PNC shares are outstanding with a float of 396.99 million shares on hand for trading. On May 14, 2023, short shares totaled 8.33 million, which was 2.09% higher than short shares on Apr 13, 2023. In addition to Mr. William S. Demchak as the firm’s Chairman, Pres & CEO, Mr. Robert Q. Reilly serves as its Exec. VP & CFO.
Through their ownership of 84.22% of PNC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 47.90% of PNC, in contrast to 34.69% held by mutual funds. Shares owned by individuals account for 0.85%. As the largest shareholder in PNC with 9.04% of the stake, The Vanguard Group, Inc. holds 36,128,088 shares worth 36,128,088. A second-largest stockholder of PNC, BlackRock Fund Advisors, holds 18,763,013 shares, controlling over 4.69% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in PNC, holding 16,956,653 shares or 4.24% stake. With a 3.11% stake in PNC, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 12,416,068 shares are owned by the mutual fund manager. The Vanguard 500 Index Fund, which owns about 2.36% of PNC stock, is the second-largest Mutual Fund holder. It holds 9,412,153 shares valued at 1.23 billion. T Rowe Price Capital Appreciation holds 1.89% of the stake in PNC, owning 7,565,393 shares worth 985.39 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PNC since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With PNC analysts setting a high price target of $186.00 and a low target of $118.00, the average target price over the next 12 months is $143.12. Based on these targets, PNC could surge 54.68% to reach the target high and fall by -1.87% to reach the target low. Reaching the average price target will result in a growth of 19.02% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded PNC stock several times over the past three months with 3 Buys and 2 Sells. In these transactions, 2,000 shares were bought while 10,086 shares were sold. The number of buy transactions has increased to 51 while that of sell transactions has risen to 61 over the past year. The total number of shares bought during that period was 212,567 while 104,794 shares were sold.