The PNC Financial Services Group Target of Unusually High Options Trading (NYSE:PNC)

The PNC Financial Services Group, Inc (NYSE:PNC) was the target of some unusual options trading on Monday. Investors purchased 3,503 put options on the stock. This represents an increase of 64% compared to the typical daily volume of 2,135 put options.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PNC shares. Cfra Research upgraded shares of The PNC Financial Services Group to a “moderate buy” rating in a report on Thursday, October 16th. Evercore ISI upped their price objective on The PNC Financial Services Group from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Wells Fargo & Company raised their target price on The PNC Financial Services Group from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, October 3rd. Keefe, Bruyette & Woods upped their price target on The PNC Financial Services Group from $215.00 to $228.00 and gave the company a “market perform” rating in a report on Wednesday, December 17th. Finally, Oppenheimer cut their price objective on shares of The PNC Financial Services Group from $240.00 to $231.00 and set an “outperform” rating on the stock in a report on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and an average target price of $219.11.

Insiders Place Their Bets

In other news, EVP Michael Duane Thomas sold 1,000 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total transaction of $183,570.00. Following the completion of the transaction, the executive vice president directly owned 5,802 shares of the company’s stock, valued at approximately $1,065,073.14. The trade was a 14.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Guild Deborah sold 1,080 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $186.97, for a total transaction of $201,927.60. Following the completion of the sale, the executive vice president directly owned 27,335 shares in the company, valued at approximately $5,110,824.95. This trade represents a 3.80% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PNC. Quarry LP purchased a new position in The PNC Financial Services Group in the 3rd quarter valued at $25,000. Saudi Central Bank purchased a new stake in The PNC Financial Services Group in the 1st quarter valued at approximately $27,000. IMG Wealth Management Inc. acquired a new position in The PNC Financial Services Group during the 2nd quarter worth approximately $27,000. Concord Wealth Partners raised its stake in shares of The PNC Financial Services Group by 144.9% during the 2nd quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock worth $32,000 after buying an additional 100 shares in the last quarter. Finally, Westfuller Advisors LLC acquired a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at approximately $34,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $211.94 on Tuesday. The firm’s fifty day simple moving average is $193.82 and its 200-day simple moving average is $194.04. The PNC Financial Services Group has a 12 month low of $145.12 and a 12 month high of $214.59. The stock has a market capitalization of $83.11 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 1.20 and a beta of 1.01. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.05 by $0.30. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The company had revenue of $5.92 billion for the quarter, compared to the consensus estimate of $5.82 billion. During the same period last year, the firm posted $3.49 EPS. The PNC Financial Services Group’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, equities analysts forecast that The PNC Financial Services Group will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.2%. The ex-dividend date was Tuesday, October 14th. The PNC Financial Services Group’s payout ratio is 43.93%.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.