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Investors interested in Finance stocks should always be looking to find the best-performing companies in the group. Is The PNC Financial Services Group, Inc (PNC) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Finance peers, we might be able to answer that question.
The PNC Financial Services Group, Inc is one of 871 companies in the Finance group. The Finance group currently sits at #1 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. The PNC Financial Services Group, Inc is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for PNC's full-year earnings has moved 2.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that PNC has returned about 22.8% since the start of the calendar year. Meanwhile, the Finance sector has returned an average of 20.3% on a year-to-date basis. This shows that The PNC Financial Services Group, Inc is outperforming its peers so far this year.
Another Finance stock, which has outperformed the sector so far this year, is The Bank of New York Mellon Corporation (BK). The stock has returned 45.9% year-to-date.
In The Bank of New York Mellon Corporation's case, the consensus EPS estimate for the current year increased 3.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, The PNC Financial Services Group, Inc belongs to the Financial - Investment Bank industry, which includes 15 individual stocks and currently sits at #38 in the Zacks Industry Rank. On average, stocks in this group have gained 29.9% this year, meaning that PNC is slightly underperforming its industry in terms of year-to-date returns.
In contrast, The Bank of New York Mellon Corporation falls under the Banks - Major Regional industry. Currently, this industry has 15 stocks and is ranked #8. Since the beginning of the year, the industry has moved +23.6%.
Investors interested in the Finance sector may want to keep a close eye on The PNC Financial Services Group, Inc and The Bank of New York Mellon Corporation as they attempt to continue their solid performance.