This is a great company run very sound. You, me, and any other stockholders will be rewarded for ownership in this case. If it dips below 60 is just a chance to buy some more. Look at the fundamentals. Has everyone forgot were we were just a couple of years ago???
I doubt anyone has forgotten the slide from mid $ 80's to $ $ 17 / $ 20 just devastating and the same management was in place then , as today , for the most part .......
Took 3 + years to regain 50% and $ 20 + still to go for full recovery , absent another geopolitical or domestic unraveling !! Far from out of the woods , problem being - $ 30 is far more popssible than +$ 30 in the minds of most folks !! I'd split the stock just to get more skin in the game , it also provides a little bit of protection for just such a slide ......... $ 30 - $15 , emotionally and mentally , is easier to recover from than $ 60 - $ 30 ........ Same 50% , but intangibles and emotion rule the day today ......... More overreaction today than ever before !
The stock price is a discounting mechanism, it discounts and calculates the present value of future cash flows. John Hussman calculates these daily for every stock, doesn't make it public but it is proprietary. He does make the summation results public in his market commentary. The current prices for bank stocks are extremely high for the future projected cash flows. In PNC's case, I believe it has the highest PE of the 20 top TARP or non-tarp Banks.
THIS IS THE TOP OF THE BULL RUN. YOU SHOULD BE TAKING YOU PROFITS AND REBALANCE YOUR PORTFOLIO ON A RUN LIKE WE HAD IN SEPT.
PNC currently is technically weak and may go down further as funds rebalance out of banks with high valuations and large cap. gains. Tax Loss selling may be starting early due to the fiscal cliff.