PNC Financial Services Group Inc Has Another Very Negative Options Trading Session

 PNC Financial Services Group Inc Has Another Very Negative Options Trading Session

In today’s session PNC Financial Services Group Inc (PNC) recorded an unusually high (1,050) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the January, 2017 put, expecting serious PNC decrease. With 1,050 contracts traded and 3054 open interest for the Jan, 17 contract, it seems this is a quite bearish bet. The option with symbol: PNC170120P00100000 closed last at: $0.94 or 6.9% down. The stock increased 0.34% or $0.38 on November 23, hitting $111.14. About 3.71 million shares traded hands or 1.64% up from the average. PNC Financial Services Group Inc (NYSE:PNC) has risen 26.17% since April 22, 2016 and is uptrending. It has outperformed by 20.76% the S&P500.

Analysts await PNC Financial Services Group Inc (NYSE:PNC) to report earnings on January, 13 before the open. They expect $1.83 earnings per share, down 2.14% or $0.04 from last year’s $1.87 per share. PNC’s profit will be $890.63 million for 15.18 P/E if the $1.83 EPS becomes a reality. After $1.84 actual earnings per share reported by PNC Financial Services Group Inc for the previous quarter, Wall Street now forecasts -0.54% negative EPS growth.

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

Out of 18 analysts covering PNC Financial Services (NYSE:PNC), 5 rate it a “Buy”, 1 “Sell”, while 12 “Hold”. This means 28% are positive. $107 is the highest target while $86 is the lowest. The $97.54 average target is -12.24% below today’s ($111.14) stock price. PNC Financial Services has been the topic of 37 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Bruyette & Woods;KBW; KBW” upgraded PNC Financial Services Group Inc (NYSE:PNC) on Wednesday, September 2 to “Mkt Perform” rating. As per Monday, July 18, the company rating was maintained by Barclays Capital. Keefe Bruyette & Woods initiated PNC Financial Services Group Inc (NYSE:PNC) on Wednesday, August 31 with “Outperform” rating. On Tuesday, August 11 the stock rating was downgraded by KBW to “Underperform”. Nomura downgraded PNC Financial Services Group Inc (NYSE:PNC) on Monday, October 10 to “Neutral” rating. The firm has “Mkt Perform” rating by Raymond James given on Thursday, October 6. The stock of PNC Financial Services Group Inc (NYSE:PNC) has “Neutral” rating given on Monday, March 14 by Atlantic Securities. The firm has “Overweight” rating by Piper Jaffray given on Tuesday, November 24. The rating was initiated by Hilliard Lyons with “Neutral” on Friday, October 2. The stock of PNC Financial Services Group Inc (NYSE:PNC) has “Underperform” rating given on Tuesday, August 11 by Bruyette & Woods”.

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 0.98 in 2016 Q2. Its up 0.09, from 0.89 in 2016Q1. The ratio is positive, 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.
Quantum Cap Mngmt last reported 10,090 shares in the company. Mycio Wealth Prns Ltd Liability Co holds 0.1% or 7,449 shares in its portfolio. Principal Grp accumulated 695,071 shares or 0.08% of the stock. Decatur Cap Mgmt has invested 1.54% of its portfolio in PNC Financial Services Group Inc (NYSE:PNC). Cranbrook Wealth Mngmt Limited Liability Corporation reported 49 shares or 0% of all its holdings. Schroder Invest Mngmt Grp, a Maine-based fund reported 1.75 million shares. Fdx Advsrs holds 0.07% or 18,954 shares in its portfolio. Assetmark Incorporated holds 0% or 2,799 shares in its portfolio. Arizona State Retirement holds 0.14% of its portfolio in PNC Financial Services Group Inc (NYSE:PNC) for 122,442 shares. Moreover, South Dakota Invest Council has 0.06% invested in PNC Financial Services Group Inc (NYSE:PNC) for 31,440 shares. Eaton Vance Mngmt has 1.95M shares for 0.46% of their US portfolio. Bluecrest Capital Ltd accumulated 3,364 shares or 0.01% of the stock. The France-based Axa has invested 0.1% in PNC Financial Services Group Inc (NYSE:PNC). Blue Bell Private Wealth Mgmt Lc has 885 shares for 0.05% of their US portfolio. Livforsakringsbolaget Skandia Omsesidigt, a Sweden-based fund reported 50,756 shares.

Insider Transactions: Since July 21, 2016, the stock had 1 insider buy, and 8 insider sales for $37.52 million net activity. Shares for $41,220 were bought by HESSE DANIEL on Thursday, July 21. $2.10M worth of shares were sold by Reilly Robert Q on Thursday, October 27. $2.38 million worth of PNC Financial Services Group Inc (NYSE:PNC) shares were sold by HANNON MICHAEL J. 82,500 shares were sold by DEMCHAK WILLIAM S, worth $7.86 million. The insider Rockey Joseph E sold $1.52 million. On Monday, October 31 the insider Kozich Gregory H sold $953,168. $536,749 worth of PNC Financial Services Group Inc (NYSE:PNC) was sold by Van Wyk Steven C. on Monday, November 14.

The PNC Financial Services Group, Inc. is a diversified financial services firm in the United States. The company has a market cap of $54.09 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 15.32 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.

Another recent and important PNC Financial Services Group Inc (NYSE:PNC) news was published by Prnewswire.com which published an article titled: “PNC Chief Executive to Speak at Goldman Sachs Investor Conference” on November 16, 2016.

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