Not unlike Fifth Third Bancorp (FITB), PNC Financial (PNC)
is looking to offset relatively sluggish growth in its traditional core
markets by expanding into the faster-growing Southeast region, while
also prioritizing mortgage market share growth and operating
efficiencies. PNC doesn't offer the highest exposure to higher rates,
but the company generates above-average yields at below-average costs
and with solid credit quality. Growth expectations seem fairly modest,
and PNC shares don't seem to be getting the full value benefit of its
likely trend in returns on capital.
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PNC Financial Looks Undervalued, With Quality To Spare
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