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PNC Financial Services Group Inc. (PNC) stock’s market capitalization is $44.533 Billion and the shares float is $396.721 Million shares. Moreover, the stock’s basic EPS is $14.41 and the price-to-earnings ratio is 8.03. Earlier in the past, the PNC stock publicized its earnings report for the December 2021 period ending January 18th, 2022.  The reported earnings gave a negative surprise of 11.84% of that period from the estimated earnings. Moreover, the reported revenue also gave a negative surprise at that time from the estimate of 0.40%.  The investors pulled out their money with the profit made after catching a rally from March 2020, $78 to $228. Thereafter, on the charts, it is clearly noticeable that profit booking was so extreme that even in recent times. The PNC stock has had a bearish effect and the price is still declining from the trendline. According to PNC Financial Services Group Inc. (PNC), the stock price has been rising from the past March 2020. The PNC stock rallied from the $79 support level by making higher highs and lows and reached $228 in January 2022. But at high, it faced resistance as investors took profit booking and went under the trendline. Even the latest earnings reports did not support the price and followed the usual bearish trend. Furthermore, the period ending September 2023 reported revenue gave a positive surprise of 15.99% from the estimate but the reported revenue gave a negative surprise of 1.615 from the estimate. It seems like investors are losing faith and that is how the stock was not able to attract more buyers which could have pulled the stock out of the continuous bearish trend. Furthermore, the yearly price action shows that PNC Financial Services Group Inc. (PNC) stock price took a major rejection in January 2023 at $170…

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Filed under: News - @ October 21, 2023 5:10 pm