Seeking Alpha: PNC Financial Running A More Cautious, Steady Long-Term Plan

I liked PNC Financial (NYSE:PNC) about six months ago and while the banking sector hasn't performed well since that time, PNC has shown better relative performance - PNC shares have dropped about 3% and lagged Wells Fargo (NYSE:WFC) and Bank of America (NYSE:BAC), while U.S. Bancorp (NYSE:USB), Fifth Third Bancorp (NASDAQ:FITB), BB&T Corp. (NYSE:BBT), and KeyCorp (NYSE:KEY) have declined 4% to 15%. Nothing has really gone wrong with PNC Financial per se since last summer, but with pretty scant prospects for the much-needed rise in rates that would spur the sector, investors have turned their attention to more promising sectors.

I still like PNC Financial, but I'm not going to argue that anybody has to own a bank stock. PNC doesn't offer the kind of leverage to higher rates that Wells Fargo or Bank of America offer, but this is a pretty solid, conservatively run bank that is focusing on sustainable loan growth, improving fee businesses, and operating expense control. The near-term upside for PNC isn't spectacular, but it remains a solid stock to consider for investors looking for a long-term holding in the banking sector.

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PNC Financial Running A More Cautious, Steady Long-Term Plan