|Bid||123.14 x 1800|
|Ask||123.15 x 1100|
|Day's Range||122.79 - 124.79|
|52 Week Range||108.45 - 157.74|
|Beta (3Y Monthly)||1.10|
|PE Ratio (TTM)||11.55|
|Earnings Date||Apr 12, 2019|
|Forward Dividend & Yield||3.80 (2.88%)|
|1y Target Est||138.64|
Discover what's driving regional banking stocks in the first quarter of 2019. These three industry leaders could keep the momentum going.
The U.S. economy is showing no signs of recession anytime soon. Also, business expansion efforts by banks cheer investors.
Moody's Investors Service ("Moody's") said Newport Group Holdings II, Inc.'s (Newport) proposed $64 million first lien term loan add-on to entirely finance an acquisition is a credit negative development but does not impact the company's ratings, including the B3 Corporate Family Rating, B3-PD Probability of Default Rating, and the B2 rating on the senior secured first lien credit facilities, or the stable outlook. Moody's views the proposed acquisition of Project Vinyl, the recordkeeping portion of PNC Financial Services Group, Inc.'s (A3 stable) retirement solutions business, as a credit negative development as it introduces integration and execution risk while also modestly increasing leverage and cash interest expense.
Warren Buffett's bullishness, opportunities for value investors and Trump's deregulatory measures are expected to boost Americ's banking industry in 2019.
Chase will be going after consumers, companies and bank employees with books of business like lenders and money managers. When it comes to physical space, Chase and fellow newcomer Bank of America Corp. may also light some fires in the real estate arena.
JPMorgan Chase & Co. is entering Pittsburgh’s retail banking landscape with the first branch to open in the fall. The leader of consumer banking in southwestern Pennsylvania is Michele Newman-Lawrence, who is Chase’s regional director for Pennsylvania, Delaware and southern New Jersey. “Chase expects to open up to 90 new branches in new markets and hire up to 700 employees by the end of the year, giving more customers access to its retail and business banking services while offering local jobs to residents,” the New York-based financial services giant said in a release.
PNC Financial Services Group Inc NYSE:PNCView full report here! Summary * Perception of the company's creditworthiness is neutral * Bearish sentiment is low * Economic output in this company's sector is expanding Bearish sentimentShort interest | PositiveShort interest is extremely low for PNC with fewer than 1% of shares on loan. This could indicate that investors who seek to profit from falling equity prices are not currently targeting PNC. Money flowETF/Index ownership | NeutralETF activity is neutral. ETFs that hold PNC had net inflows of $1.34 billion over the last one-month. While these are not among the highest inflows of the last year, the rate of inflow is increasing. Economic sentimentPMI by IHS Markit | PositiveAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Financials sector is rising. The rate of growth is strong relative to the trend shown over the past year. Credit worthinessCredit default swap | NeutralThe current level displays a neutral indicator. PNC credit default swap spreads are within the middle of their range for the last three years.Please send all inquiries related to the report to firstname.lastname@example.org.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
It's been over a week and people are still giving Warren Buffett a hard time. That's all because Kraft Heinz (NYSE:KHC) is quickly becoming a dumpster fire of epic proportions. With disappointing earnings, lower revenues, a 36% dividend cut and pending asset sales, Buffett's decision to get in bed with 3G Capital is looking like a poor one indeed. One, that is costing Berkshire Hathaway (NYSE:BRK.B) plenty of coin as KHC stock implodes.But as the market focuses on Buffett's blunder, the Oracle of Omaha was buying stocks. Plenty of them, over the last quarter. The reality is that many of these new positions and buys of old favorites were incredibly smart and make up for the misstep at KHC. It's here that Buffett's brilliance as America's favorite value investor shines through. By following Buffett's moves into these picks, investors should get a hefty dose of dividends and gains for years to come. * 10 Tech Stocks to Buy Now for 2025 With that, here are five recent Warren Buffett buys that worth buying yourself.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSource: Shutterstock PNC Financial (PNC)It's no secret that Warren Buffett is attracted to stocks in the financial and banking sector. Berkshire Hathaway is the top shareholder in numerous finical institutions and it can add PNC Financial (NYSE:PNC) to that list. Over the last quarter, Buffett & Co. increased his stake in PNC by about 35% and now owns over 8.2 million shares.And it's easy to see why Buffett is in love with PNC.PNC is considered a super-regional bank and operates a huge network of locations across the northeast and Midwest. That huge size and scope came not only from organic growth, but several smart buys of smaller struggling rivals during the recession. Because of this, PNC has continued to see its assets, deposits and loan growth steadily increase. Moreover, the bank is run very conservatively and features low loan losses and fortress-like balance sheet.Management at PNC has also been very smart in other ways as well. The bank has embraced technology throughout its customer system and the firm leads the way in app development, mobile banking and wealth management. And the firm saw the ETF writing on the wall early and holds a huge stake in asset manager BlackRock (NYSE:BLK).With all of this, PNC has continued to reward shareholders. Last year, PNC purchased more than $2.8 billion in stock and handed out more than $1.6 billion in dividends. It's no wonder why Buffett continued to add the regional bank last quarter.Source: Nancy
Penguins' exec says new plan for former arena site featuring increases in office and retail space is "tenant driven" with new office tower estimated to range between 30 and 50 stories.
Investors' sentiment shaken on global issues, leading banking stocks to put up a lackluster show during the week.
Annual Shareholders Meeting To Be Held April 23 PITTSBURGH , March 5, 2019 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) expects to issue financial results for the first quarter of ...
Venmo has been billed as the payment app for Millennials and is known for making the most awkward part of the night (splitting the bill) a little more bearable. It’s also one of the most popular apps in the peer-to-peer (P2P) payments space. But how does it actually work?
We often see insiders buying up shares in companies that perform well over the long term. The flip side of that is that there are more than a few examplesRead More...
The fintech incubator funded by Pittsburgh’s biggest bank is moving to new and larger space in East Liberty. “numo will be moving into the new space this summer to accommodate staff growth related to the success of the fintech products we've been incubating and to plan for future growth,” numo CEO David Passavant, who has been head of innovation at PNC (NYSE:PNC) since 2013, said via email. “We are excited about relocating to the core/heart of the East Liberty neighborhood.” The incubator at present occupies 4,133 square feet at Suite 150, 6425 Living Place.
Postmedia Network Canada Corp. announces, at the request of IIROC on behalf of the Toronto Stock Exchange, that Postmedia’s management is unaware of any material change in Postmedia’s operations that would account for the recent increase in market activity.
PITTSBURGH , Feb. 27, 2019 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) announced today that Terry Begley , executive vice president and chief executive officer of Corporate Banking, ...
Prior to joining PNC, Mr. Jordan served as the global managing partner of Reed Smith LLP, and chairman of the senior management team and executive committee. During his tenure as managing partner, Reed Smith completed a series of combinations in the U.S., Europe, the Middle East and Asia, to become one of the largest legal services firms in the world.
The chief economist at Pittsburgh’s largest bank doesn’t expect a recession this year and believes a downturn is unlikely in 2020. “The longest economic expansion in U.S. history was in 1990 and I think this (current) one will surpass it,” Gus Faucher, chief economist at PNC Financial Services Group Inc., told a packed auditorium at his company’s downtown Pittsburgh headquarters on Tuesday morning. Recessions are triggered by imbalances in the economy, Faucher said, and despite stock market turbulence and concerns over tariffs and trade wars, he doesn’t see anything out of the ordinary that’s likely to derail growth.
What Investors Should Take Away from Buffett’s Annual Letter(Continued from Prior Part)AppleBerkshire Hathaway (BRK-B) is Apple’s second-largest shareholder. Despite Berkshire selling some Apple (AAPL) stock in the fourth quarter, it remains