The PNC Financial Services Group, Inc. (NYSE:PNC - Get Free Report) was the recipient of some unusual options trading activity on Tuesday. Investors bought 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.
Analyst Upgrades and Downgrades
PNC has been the topic of a number of research reports. Piper Sandler raised their target price 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. Compass Point raised their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 10th. Wells Fargo & Company raised their target price on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. Barclays lifted their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an "overweight" rating in a report on Monday, January 6th. Finally, Evercore ISI lifted their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $203.29.
Get Our Latest Analysis on PNC
Insider Activity at The PNC Financial Services Group
In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $190.57, for a total value of $236,687.94. Following the completion of the transaction, the chief executive officer now owns 546,007 shares of the company's stock, valued at approximately $104,052,553.99. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of the firm's stock in a transaction dated 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 completion of the sale, the director now directly owns 38,649 shares of the company's stock, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,272 shares of company stock valued at $6,164,890. Insiders own 0.42% of the company's stock.
Institutional Trading of The PNC Financial Services Group
A number of institutional investors and hedge funds have recently modified their holdings of PNC. Winch Advisory Services LLC purchased a new stake in The PNC Financial Services Group during the 4th quarter valued at about $25,000. Valley Wealth Managers Inc. grew its stake in The PNC Financial Services Group by 20,000.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 200 shares in the last quarter. Quarry LP grew its stake in The PNC Financial Services Group by 141.7% during the 2nd quarter. Quarry LP now owns 290 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 170 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in The PNC Financial Services Group during the 3rd quarter valued at about $51,000. Finally, Migdal Insurance & Financial Holdings Ltd. grew its stake in The PNC Financial Services Group by 231.6% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider's stock valued at $58,000 after acquiring an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.
The PNC Financial Services Group Price Performance
Shares of The PNC Financial Services Group stock traded up $3.38 during trading hours on Tuesday, reaching $195.81. The stock had a trading volume of 1,732,594 shares, compared to its average volume of 1,996,376. The stock's 50 day moving average is $201.75 and its 200 day moving average is $186.58. The firm has a market capitalization 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 has a twelve month low of $139.69 and a twelve 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 1.22.
The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping analysts' consensus estimates of $3.30 by $0.19. The business had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company's revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.60 earnings per share. Equities analysts expect that The PNC Financial Services Group will post 13.45 earnings per share for the current fiscal year.
The PNC Financial Services Group Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.27%. The PNC Financial Services Group's dividend payout ratio is currently 54.10%.
The PNC Financial Services Group Company Profile
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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.
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