PNC Financial Services Group Sees Unusually High Options Volume (NYSE:PNC)

PNC Financial Services Group Inc (NYSE:PNC) was the recipient of unusually large options trading activity on Tuesday. Stock traders purchased 3,432 put options on the stock. This represents an increase of approximately 785% compared to the typical volume of 388 put options.

Shares of PNC Financial Services Group (NYSE:PNC) traded up $0.35 during mid-day trading on Friday, reaching $151.84. 3,275,203 shares of the company’s stock were exchanged, compared to its average volume of 2,020,000. The company has a market cap of $72,250.00, a price-to-earnings ratio of 18.49, a PEG ratio of 1.51 and a beta of 0.90. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.24. PNC Financial Services Group has a fifty-two week low of $113.66 and a fifty-two week high of $153.50.

PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Friday, January 12th. The financial services provider reported $2.29 EPS for the quarter, beating the Zacks’ consensus estimate of $2.20 by $0.09. The business had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.15 billion. PNC Financial Services Group had a net margin of 24.61% and a return on equity of 9.29%. PNC Financial Services Group’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.97 EPS. research analysts anticipate that PNC Financial Services Group will post 8.43 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 5th. Shareholders of record on Wednesday, January 17th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Tuesday, January 16th. PNC Financial Services Group’s dividend payout ratio is 22.53%.

In other PNC Financial Services Group news, insider Wyk Steven C. Van sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 19th. The shares were sold at an average price of $135.00, for a total transaction of $675,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Q. Reilly sold 19,576 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $145.51, for a total transaction of $2,848,503.76. Following the transaction, the insider now owns 103,299 shares of the company’s stock, valued at approximately $15,031,037.49. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 108,523 shares of company stock valued at $15,392,168. Company insiders own 0.43% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Honeywell International Inc. boosted its holdings in PNC Financial Services Group by 0.3% during the 2nd quarter. Honeywell International Inc. now owns 156,400 shares of the financial services provider’s stock worth $19,530,000 after acquiring an additional 400 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its holdings in PNC Financial Services Group by 217.5% during the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 184,620 shares of the financial services provider’s stock worth $24,901,000 after acquiring an additional 126,480 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its holdings in PNC Financial Services Group by 20.5% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 7,253 shares of the financial services provider’s stock worth $906,000 after acquiring an additional 1,235 shares during the last quarter. California Public Employees Retirement System boosted its holdings in PNC Financial Services Group by 1.6% during the 3rd quarter. California Public Employees Retirement System now owns 1,407,491 shares of the financial services provider’s stock worth $189,688,000 after acquiring an additional 22,434 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in PNC Financial Services Group by 3.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 15,346 shares of the financial services provider’s stock worth $1,916,000 after acquiring an additional 500 shares during the last quarter. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have issued reports on the stock. Royal Bank of Canada restated a “buy” rating and set a $170.00 price target on shares of PNC Financial Services Group in a report on Friday. ValuEngine lowered shares of PNC Financial Services Group from a “buy” rating to a “hold” rating in a research note on Wednesday. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $162.00 price objective on shares of PNC Financial Services Group in a research note on Friday, December 22nd. Zacks Investment Research upgraded shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $164.00 price objective for the company in a research note on Tuesday, December 26th. Finally, Wells Fargo & Co set a $149.00 price objective on shares of PNC Financial Services Group and gave the company a “hold” rating in a research note on Wednesday, December 20th. Seventeen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $142.33.

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PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

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