Investors Buy Large Volume of The PNC Financial Services Group Call Options (NYSE:PNC)

The PNC Financial Services Group, Inc. (NYSE:PNC) was the target of unusually large options trading activity on Wednesday. Investors acquired 5,027 call options on the stock. This represents an increase of 99% compared to the typical daily volume of 2,529 call options.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PNC shares. HSBC upgraded The PNC Financial Services Group from a “hold” rating to a “buy” rating and dropped their target price for the company from $206.00 to $202.00 in a report on Monday, March 31st. TD Cowen started coverage on The PNC Financial Services Group in a report on Thursday, May 15th. They issued a “buy” rating and a $233.00 target price on the stock. The Goldman Sachs Group dropped their target price on The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. Morgan Stanley dropped their target price on The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating on the stock in a report on Wednesday, April 16th. Finally, Wells Fargo & Company dropped their price objective on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $202.67.

The PNC Financial Services Group Trading Down 0.9%

The PNC Financial Services Group stock traded down $1.63 during mid-day trading on Wednesday, hitting $174.61. The stock had a trading volume of 202,127 shares, compared to its average volume of 2,046,193. The stock has a 50-day simple moving average of $165.14 and a two-hundred day simple moving average of $185.22. The stock has a market capitalization of $69.07 billion, a PE ratio of 12.71, a P/E/G ratio of 1.55 and a beta of 1.06. The PNC Financial Services Group has a 12 month low of $145.12 and a 12 month high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $5.50 billion. As a group, sell-side analysts forecast that The PNC Financial Services Group will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.67%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 45.20%.

Insider Transactions at The PNC Financial Services Group

In other news, Director Martin Pfinsgraff purchased 1,000 shares of The PNC Financial Services Group stock in a transaction dated Friday, April 25th. The stock was bought at an average price of $158.22 per share, with a total value of $158,220.00. Following the completion of the acquisition, the director now owns 2,009 shares in the company, valued at $317,863.98. The trade was a 99.11% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $178.83, for a total value of $222,106.86. Following the completion of the transaction, the chief executive officer now directly owns 568,541 shares of the company’s stock, valued at $101,672,187.03. This trade represents a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,396 shares of company stock worth $2,773,072 in the last three months. Company insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On The PNC Financial Services Group

Several institutional investors have recently bought and sold shares of the company. Saudi Central Bank bought a new stake in shares of The PNC Financial Services Group during the 1st quarter worth approximately $27,000. Richardson Financial Services Inc. raised its stake in The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Synergy Asset Management LLC acquired a new stake in The PNC Financial Services Group in the 4th quarter worth about $32,000. Rialto Wealth Management LLC acquired a new stake in The PNC Financial Services Group in the 4th quarter worth about $32,000. Finally, Whipplewood Advisors LLC acquired a new stake in The PNC Financial Services Group in the 4th quarter worth about $33,000. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Company Profile

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.