The PNC Financial Services Group Inc. [NYSE: PNC] slipped around -7.22 points on Wednesday, while shares priced at $124.40 at the close of the session, down -5.49%. The company report on March 22, 2023 that PNC BANK, N.A. CHANGES PRIME RATE.
PNC Bank, N.A., announced an increase in its prime lending rate. The new rate of 8.00% is effective tomorrow, March 23, 2023.
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PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. (NYSE: PNC). PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.
The PNC Financial Services Group Inc. stock is now -21.24% down from its year-to-date (YTD) trading value. PNC Stock saw the intraday high of $131.08 and lowest of $124.39 per share. The company’s 52-week high price is 199.43, which means current price is +2.85% above from all time high which was touched on 01/12/23.
Compared to the average trading volume of 3.09M shares, PNC reached a trading volume of 4245059 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about The PNC Financial Services Group Inc. [PNC]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PNC shares is $173.32 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PNC stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Citigroup have made an estimate for The PNC Financial Services Group Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 13, 2023. The new note on the price target was released on January 10, 2023, representing the official price target for The PNC Financial Services Group Inc. stock. Previously, the target price had yet another drop from $190 to $176, while UBS kept a Neutral rating on PNC stock. On January 06, 2023, analysts decreased their price target for PNC shares from 200 to 190.
The Average True Range (ATR) for The PNC Financial Services Group Inc. is set at 6.11, with the Price to Sales ratio for PNC stock in the period of the last 12 months amounting to 3.39. The Price to Book ratio for the last quarter was 1.10, with the Price to Cash per share for the same quarter was set at 81.75. Price to Free Cash Flow for PNC in the course of the last twelve months was 7.81.
How has PNC stock performed recently?
The PNC Financial Services Group Inc. [PNC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.52. With this latest performance, PNC shares dropped by -19.99% in over the last four-week period, additionally sinking by -24.07% over the last 6 months – not to mention a drop of -35.55% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PNC stock in for the last two-week period is set at 30.71, with the RSI for the last a single of trading hit 31.13, and the three-weeks RSI is set at 31.98 for The PNC Financial Services Group Inc. [PNC]. The present Moving Average for the last 50 days of trading for this stock 153.13, while it was recorded at 127.44 for the last single week of trading, and 158.15 for the last 200 days.
The PNC Financial Services Group Inc. [PNC]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and The PNC Financial Services Group Inc. [PNC] shares currently have an operating margin of +32.55. The PNC Financial Services Group Inc.’s Net Margin is presently recorded at +26.20.
Return on Total Capital for PNC is now 7.54, given the latest momentum, and Return on Invested Capital for the company is 6.57. Return on Equity for this stock inclined to 11.85, with Return on Assets sitting at 1.07. When it comes to the capital structure of this company, The PNC Financial Services Group Inc. [PNC] has a Total Debt to Total Equity ratio set at 136.26. Additionally, PNC Total Debt to Total Capital is recorded at 57.67, with Total Debt to Total Assets ending up at 11.13. Long-Term Debt to Equity for the company is recorded at 140.64, with the Long-Term Debt to Total Capital now at 52.05.
Reflecting on the efficiency of the workforce at the company, The PNC Financial Services Group Inc. [PNC] managed to generate an average of $97,717 per employee.
Earnings analysis for The PNC Financial Services Group Inc. [PNC]
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PNC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for The PNC Financial Services Group Inc. go to 10.96%.
Insider trade positions for The PNC Financial Services Group Inc. [PNC]
There are presently around $41,328 million, or 84.90% of PNC stock, in the hands of institutional investors. The top three institutional holders of PNC stocks are: VANGUARD GROUP INC with ownership of 37,402,648, which is approximately -0.274% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 29,623,035 shares of the stock with an approximate value of $3.69 billion in PNC stocks shares; and STATE STREET CORP, currently with $2.26 billion in PNC stock with ownership of nearly -1.414% of the company’s market capitalization.
Positions in The PNC Financial Services Group Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 699 institutional holders increased their position in The PNC Financial Services Group Inc. [NYSE:PNC] by around 14,448,374 shares. Additionally, 628 investors decreased positions by around 19,933,390 shares, while 250 investors held positions by with 297,833,789 shares. The mentioned changes placed institutional holdings at 332,215,553 shares, according to the latest SEC report filing. PNC stock had 150 new institutional investments in for a total of 2,857,761 shares, while 91 institutional investors sold positions of 624,296 shares during the same period.