$52.89
-3.60 (-6.37%)
PNC Financial Services (PNC)
CAPS Rating:
A diversified financial services companies in the United States based on assets, with businesses engaged in retail banking, corporate and institutional banking, asset management and global fund processing services.
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PNC has long been stagnant. Rohr stated 5 years ago that the stock would break 100. Still yet to be seen. PNC hovers but never reallly moves.
PNC has held their own during this financial crunch, but the crunch is not over. They are overexposed in some of their Northeast markets. They have taken on 2 projects in the Pittsburgh area that are running over budget. Three PNC Plaza will now cost $200 million, up from the original budget of $179. AND...this project is subsidized with public (ie: taxpayer) funds.
As a PNC stock holder, I Love when a project ispartially paid by tax payers. It gives me a free ride. There were only 3 hotels in downtown Pittsburgh, beforethe PNC plaza was announced. Competition is low. Vacancy rate will be low. The condos will sell quickly. The officespace is already rented. Project over runs are slimcompared to the reward. PNC stock will hit a record high by the end of August. Compared to other financials. PNC is a winner.
yeah and your score proves it! It takes work to be a <20