PNC Financial's Long-Term Qualities Seem Less Than Fully Appreciated

If you look at how PNC Financial (PNC) shares have traded this year, you might think it was “just another bank”. Given that the management team has shown itself to be a good steward of shareholder capital, I don’t believe that’s fair.

Clearly, the macro environment matters; rates are going to be low for a while, and the market is clearly worried about a “second wave” of COVID-19 shutdowns, uncertainty over further stimulus, and turmoil around the election. Still, for patient investors with a longer-term horizon, I think PNC offers decent return potential.

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PNC Financial's Long-Term Qualities Seem Less Than Fully Appreciated