PNC Financial posted fourth quarter earnings that exceeded analysts' forecasts. Its revenue, too, beat expectations.
The financial services company’s earnings came in at $3.26 a share, compared to the $2.59 share expected by analysts polled by Investing.com .Its revenue of $4.21B also topped estimate of $4.13B.
PNC in downward trend: price expected to drop as it breaks its higher Bollinger Band on August 23, 2024
PNC broke above its upper Bollinger Band on August 23, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options. The A.I.dvisor looked at 43 similar instances where the stock broke above the upper band. In of the 43 cases the stock fell afterwards. This puts the odds of success at .
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Notable companies
The most notable companies in this group are US Bancorp (NYSE:USB), PNC Financial Services Group (NYSE:PNC), Itau Unibanco Holding SA (NYSE:ITUB), Deutsche Bank Aktiengesellschaft (NYSE:DB), Banco Bradesco SA (NYSE:BBD), Huntington Bancshares (NASDAQ:HBAN), Regions Financial Corp (NYSE:RF), KeyCorp (NYSE:KEY), Veritex Holdings (NASDAQ:VBTX).
Industry description
Regional banks have a smaller reach than major banks, and cater mostly to one region of a country, such as a state or within a group of states. They offer services often similar – albeit with some limitations/smaller scale – compared to major banks. Taking deposits, making loans, mortgages, leases, credit cards , fund management, insurance and investment banking. SunTrust Banks, State Street Corp., M&T Bank Corp. are some examples of U.S. regional banks.
Market Cap
The average market capitalization across the Regional Banks Industry is 5.77B. The market cap for tickers in the group ranges from 22.65 to 133.96B. HDB holds the highest valuation in this group at 133.96B. The lowest valued company is VLYPP at 22.65.
High and low price notable news
The average weekly price growth across all stocks in the Regional Banks Industry was -1%. For the same Industry, the average monthly price growth was 5%, and the average quarterly price growth was 11%. WRIV experienced the highest price growth at 101%, while SIVBQ experienced the biggest fall at -22%.
Volume
The average weekly volume growth across all stocks in the Regional Banks Industry was 6%. For the same stocks of the Industry, the average monthly volume growth was -25% and the average quarterly volume growth was -21%
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
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