Is Buying Stock Like PNC Financial Services Group Inc Good Idea After Today’s Bearish Options Activity?

 Is Buying Stock Like PNC Financial Services Group Inc Good Idea After Today's Bearish Options Activity?

In today’s session PNC Financial Services Group Inc (PNC) recorded an unusually high (311) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious PNC decrease. With 311 contracts traded and 404 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: PNC161118P00097500 closed last at: $6.9 or 11.5% down. About 930,386 shares traded hands. PNC Financial Services Group Inc (NYSE:PNC) has risen 5.18% since March 4, 2016 and is uptrending. It has underperformed by 2.86% the S&P500.

Analysts await PNC Financial Services Group Inc (NYSE:PNC) to report earnings on October, 14 before the open. They expect $1.78 EPS, down 6.32% or $0.12 from last year’s $1.9 per share. PNC’s profit will be $877.61 million for 12.81 P/E if the $1.78 EPS becomes a reality. After $1.82 actual EPS reported by PNC Financial Services Group Inc for the previous quarter, Wall Street now forecasts -2.20% negative EPS growth.

PNC Financial Services Group Inc (NYSE:PNC) Ratings Coverage

Out of 17 analysts covering PNC Financial Services (NYSE:PNC), 4 rate it a “Buy”, 1 “Sell”, while 12 “Hold”. This means 24% are positive. PNC Financial Services has been the topic of 35 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The stock of PNC Financial Services Group Inc (NYSE:PNC) has “Outperform” rating given on Wednesday, August 31 by Keefe Bruyette & Woods. The company was maintained on Monday, July 18 by Barclays Capital. The rating was upgraded by Deutsche Bank to “Buy” on Tuesday, September 8. BMO Capital Markets upgraded PNC Financial Services Group Inc (NYSE:PNC) on Monday, September 19 to “Outperform” rating. The rating was maintained by Nomura on Monday, April 25 with “Neutral”. The rating was downgraded by KBW to “Underperform” on Tuesday, August 11. The firm has “Market Perform” rating by Wood given on Tuesday, August 11. The stock of PNC Financial Services Group Inc (NYSE:PNC) has “Mkt Perform” rating given on Wednesday, September 2 by Bruyette & Woods;KBW; KBW”. Atlantic Securities downgraded PNC Financial Services Group Inc (NYSE:PNC) on Monday, March 14 to “Neutral” rating. The rating was maintained by Jefferies with “Hold” on Monday, September 26.

According to Zacks Investment Research, “The PNC Financial Services Group, Inc. is one of the nation’s largest diversified financial services organizations, providing regional banking, corporate banking, real estate finance, asset-based lending, wealth management, asset management and global fund services. (Company Press Release)”

Insitutional Activity: The institutional sentiment increased to 0.89 in 2016 Q2. Its up 0.04, from 0.85 in 2016Q1. The ratio improved, as 59 funds sold all PNC Financial Services Group Inc shares owned while 337 reduced positions. 52 funds bought stakes while 299 increased positions. They now own 388.74 million shares or 0.81% less from 391.90 million shares in 2016Q1.
Cantab Capital Prtnrs Limited Liability Partnership owns 1,862 shares or 0% of their US portfolio. Sandy Spring Comml Bank accumulated 9,722 shares or 0.09% of the stock. Us Savings Bank De holds 0.19% of its portfolio in PNC Financial Services Group Inc (NYSE:PNC) for 601,824 shares. Stratos Wealth Prns Limited holds 0.07% or 12,317 shares in its portfolio. Srb has 0.02% invested in the company for 1,659 shares. Millennium Management Limited Company has 439,466 shares for 0.08% of their US portfolio. The Kentucky-based Harvey Inv Ltd Company has invested 1.04% in PNC Financial Services Group Inc (NYSE:PNC). Brown Advisory Securities Limited Company accumulated 11,151 shares or 0.28% of the stock. The New York-based Alliancebernstein Lp has invested 0.08% in PNC Financial Services Group Inc (NYSE:PNC). Tokio Marine Asset Mgmt Com Limited holds 13,747 shares or 0.12% of its portfolio. Beese Fulmer Management reported 3,707 shares or 0.09% of all its holdings. Liberty Mutual Grp Asset Mngmt Incorporated accumulated 0.1% or 32,792 shares. Retail Bank Of America Corporation De accumulated 0.1% or 5.39 million shares. Meiji Yasuda Life Ins, a Japan-based fund reported 3,680 shares. Mountain Pacific Investment Advisers Id last reported 0.06% of its portfolio in the stock.

Insider Transactions: Since April 20, 2016, the stock had 2 buys, and 2 sales for $3.81 million net activity. HANNON MICHAEL J also sold $1.09 million worth of PNC Financial Services Group Inc (NYSE:PNC) on Wednesday, April 20. HESSE DANIEL also bought $41,220 worth of PNC Financial Services Group Inc (NYSE:PNC) shares. BUNCH CHARLES E bought $87,805 worth of stock.

The PNC Financial Services Group, Inc. is a diversified financial services firm in the United States. The company has a market cap of $44.98 billion. The Firm operates through six divisions: Retail Banking, Corporate & Institutional Banking, Asset Management Group, Residential Mortgage Banking, BlackRock and Non-Strategic Assets Portfolio. It has a 12.48 P/E ratio. Retail Banking provides deposit, lending, brokerage, investment management and cash management services.

PNC Company Profile

The PNC Financial Services Group, Inc. (PNC), incorporated on January 19, 1983, is a diversified financial services firm in the United States. The Firm has businesses engaged in retail banking, corporate and institutional banking, asset management and residential mortgage banking, providing its services and products nationally, as well as other services and products in its primary geographic markets located in Pennsylvania, Ohio, New Jersey, Michigan, Illinois, Maryland, Indiana, Florida, North Carolina, Kentucky, Washington, D.C., Delaware, Virginia, Alabama, Georgia, Missouri, Wisconsin and South Carolina. It also provides various services and products internationally. The Firm operates through six divisions: Retail Banking, Corporate & Institutional Banking, Asset Management Group, Residential Mortgage Banking, BlackRock and Non-Strategic Assets Portfolio.

More important recent PNC Financial Services Group Inc (NYSE:PNC) news were published by: Reuters.com which released: “Fitch Affirms PNC Financial Services Group, Inc.’s IDRs at ‘A+/F1’; Outloo…” on October 04, 2016, also Prnewswire.com published article titled: “The PNC Financial Services Group To Report Fourth Quarter And Full Year …”, Bizjournals.com published: “Trio of PNC execs among top women in banking” on September 27, 2016. More interesting news about PNC Financial Services Group Inc (NYSE:PNC) was released by: Bizjournals.com and their article: “PNC remains No. 1 in market share for Pittsburgh” with publication date: September 30, 2016.

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