3 Reasons To Consider PNC Financial
By Sammy Pollack:Shares of PNC Financial Services Group Inc (PNC) are down 11% over the past month. However, there are three reasons to buy PNC.(click to enlarge)PNC data by YCharts
On Tuesday, Fitch affirmed its A+ rating on PNC. This is important as speculation continues to mount about ratings cuts for major U.S. banks. Fitch recently cut JP Morgan Chase's (JPM) rating to a AA- following JPM's trading loss. PNC's ability to maintain an A+ rating is a positive as many competitors will likely be downgraded soon.
PNC pays a dividend of $1.60 per share or 2.8%. Even if the economy worsens, PNC should be able to maintain its divided as the payout ratio is just 29%.
Lack of European Exposure
PNC has little exposure to Europe as the bank is a U.S. regional bank. While the entire financial sector is likely to get hit if theComplete Story »