November 18, 2011
Ever since the European debt crisis became the issue that the markets trade alongside, bank stocks have risen and fallen together. Correlation in the banking sector, much like the overall stock market, is at record levels, as investors paint all financial firms with the same broad brush. But, the truth is that not all banks are created the same. There are some that can rise above the challenges presented in Europe and can thrive in such an environment. And we would like to highlight just such a bank today.
PNC Financial (PNC) is a large regional bank that caters to the eastern United States. PNC is currently the 12th largest bank holding company in the U.S. by assets. As a regional bank, it has none of the European exposure that is currently plaguing many of its peers, yet it is trading as if it was exposed to Europe.
While it is true that PNC has outperformed the broader financial sector, it has underperformed the S&P 500. We see little reason for this other than the sentiment surrounding the financial industry.
< read more >
http://seekingalpha.com/article/308967-buy-pnc-a-bank-that-prospers-as-europe-falters
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Recent PNC News
- United Shares Surge 5.3% in Q1 2024 Earnings Beat; Take-Two Cuts 5% of Workforce, and More News • IH Market News • 04/17/2024 10:57:39 AM
- U.S. Index Futures Signal Mixed Trading, Oil Prices Dip • IH Market News • 04/16/2024 11:19:33 AM
- PNC Reports First Quarter 2024 Net Income of $1.3 Billion, $3.10 Diluted EPS, or $3.36 Excluding a $130 Million FDIC Special Assessment • PR Newswire (US) • 04/16/2024 10:33:00 AM
- PNC Declares Dividend of $1.55 on Common Stock • PR Newswire (US) • 04/03/2024 03:29:00 PM
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- PNC Bank Highlights Nearly 160 Years of Reliable and Responsible Banking With 'Boring' Brand Campaign • PR Newswire (US) • 03/18/2024 10:55:00 AM
- PNC Names Michael Thomas Head of Corporate & Institutional Banking • PR Newswire (US) • 03/13/2024 06:04:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/05/2024 06:57:34 PM
- The PNC Financial Services Group Announces First Quarter 2024 Earnings Conference Call, Virtual-Only Annual Shareholders Meeting Details • PR Newswire (US) • 03/05/2024 01:15:00 PM
- Form ARS - Annual Report to Security Holders • Edgar (US Regulatory) • 03/01/2024 01:29:25 PM
- PNC Survey Shows Business Owner Optimism Continues to Soar Amid Improving Economic Conditions • PR Newswire (US) • 02/28/2024 11:55:00 AM
- PNC Executive To Speak At RBC Capital Markets Conference • PR Newswire (US) • 02/21/2024 01:25:00 PM
- PNC Appoints Michael P. Lyons President • PR Newswire (US) • 02/20/2024 12:02:00 PM
- PNC Bank Announces Nearly $1 Billion Investment In Coast-to-Coast Branch Network • PR Newswire (US) • 02/14/2024 01:05:00 PM
- PNC Executive To Speak At Bank of America Conference • PR Newswire (US) • 02/07/2024 01:45:00 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 01/26/2024 09:23:47 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/22/2024 09:02:43 PM
- Form 424B2 - Prospectus [Rule 424(b)(2)] • Edgar (US Regulatory) • 01/18/2024 02:54:54 PM
- Form FWP - Filing under Securities Act Rules 163/433 of free writing prospectuses • Edgar (US Regulatory) • 01/17/2024 09:40:22 PM
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- Form 8-K - Current report • Edgar (US Regulatory) • 01/16/2024 07:35:14 PM
- PNC Financial 4Q Profit Falls • Dow Jones News • 01/16/2024 12:29:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/16/2024 11:45:45 AM
- PNC Reports Full Year 2023 Net Income of $5.6 Billion, $12.79 Diluted EPS or $14.10 as Adjusted • PR Newswire (US) • 01/16/2024 11:42:00 AM
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