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

The PNC Financial Services Group, Inc. (NYSE:PNC) was the target of some unusual options trading activity on Tuesday. Traders acquired 33,084 call options on the company. This is an increase of approximately 1,149% compared to the average daily volume of 2,648 call options.

Insider Activity

In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total transaction of $159,877.08. Following the sale, the director now directly owns 915 shares in the company, valued at $170,299.80. The trade was a 48.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the sale, the director now directly owns 38,649 shares of the company’s stock, valued at $8,119,768.41. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,272 shares of company stock valued at $6,164,890 over the last 90 days. Insiders own 0.42% of the company’s stock.

Institutional Trading of The PNC Financial Services Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Concurrent Investment Advisors LLC increased its position in shares of The PNC Financial Services Group by 45.6% during the third quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock valued at $1,185,000 after purchasing an additional 2,009 shares during the period. BSN CAPITAL PARTNERS Ltd bought a new position in shares of The PNC Financial Services Group during the 3rd quarter worth approximately $12,548,000. Bleakley Financial Group LLC boosted its stake in The PNC Financial Services Group by 9.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock valued at $2,913,000 after buying an additional 1,299 shares in the last quarter. Deerfield Management Company L.P. Series C acquired a new position in The PNC Financial Services Group during the second quarter worth $822,000. Finally, Aljian Capital Management LLC acquired a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at $839,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on PNC. Truist Financial began coverage on shares of The PNC Financial Services Group in a research report on Tuesday, January 7th. They set a “hold” rating and a $215.00 price objective for the company. Keefe, Bruyette & Woods increased their target price on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. Morgan Stanley upped their target price on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 16th. Evercore ISI increased their price target on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Piper Sandler boosted their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $203.29.

The PNC Financial Services Group Stock Up 1.8 %

Shares of The PNC Financial Services Group stock traded up $3.38 on Tuesday, hitting $195.81. 1,732,045 shares of the company traded hands, compared to its average volume of 1,942,633. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The PNC Financial Services Group has a 12-month low of $139.69 and a 12-month high of $216.26. The company has a 50-day moving average price of $201.61 and a 200 day moving average price of $186.29. The company has a market cap of $77.69 billion, a PE ratio of 16.55, a PEG ratio of 2.11 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating the consensus estimate of $3.30 by $0.19. The business had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.60 EPS. Sell-side analysts predict that The PNC Financial Services Group will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.