+ Watch PNC
on My Watchlist
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.
PNC is one of the cheaper big banks out there right now, plus it has a few potential catalysts that could unlock value going forward.First, many people don't realize that PNC owns a significant chunk of Blackrock (BLK), 21% to be exact. If one was to back the value if that semi-hidden asset out of PNC, it would only be trading at 8 times earnings right now, a discount to the multiples that its peers are currently trading at.Another potential catalyst is the strong possibility that PNC will be able to increase its dividend after the government finalizes the next round of stress tests at some point in the next couple of months.PNC is a Bran Rogers selection from the latest Barron's Roundtable.Deej
Basel III will assign a tougher risk weighting to equity holdings, which is why Suntrust recently sold their stake in Coca Cola. With that in mind PNC could end up selling or spinning off more of Blackrock in the next few years.http://www.forbes.com/sites/steveschaefer/2012/09/07/suntrust-dumps-93-year-old-stake-in-coca-cola-collects-a-tidy-two-million-percent-return/
PNC is one of my favorites right now, as well. It's the most well-run of the big banks, including Wells Fargo.
JakilaTheHun...... I agree with that. WFC USB and PNC.
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