NEW YORK (Reuters) - The U.S. government took further steps to prop up the U.S. banking system on Friday, starting to inject capital into a new group of banks, and helping to finance a $5.2 billion takeover of National City Corp by PNC Financial Services Group Inc.
I strongly believe that for the next few quarters, financial institutions should build their balance sheets to the strongest possible positions in capital and liquidity and reserves. This is the logical tactic given the regulatory uncertainties paired with enormous demand potential as the credit and business cycles turn. Releasing reserves make no sense to me. First a snapshot of some recent selected data.
It’s official: After an epic spending spree, Canadian consumers are finally putting away their wallets, depriving the banks of a profit wellspring of historic proportion. Fortunately for bank shareholders the wallet-closing has been a relatively gradual process that has yet to put a dint in the bottom line.
By Rash Menaria: PNC Financial Services Group, Inc. (PNC) is a diversified financial services company based in the United States. PNC manages over $250 billion in assets, of which approximately $38 billion is deployed in equities.
By Takeover Analyst:In an earlier article (see here), I argued that while regional banks are exposed to greater risks than what the market acknowledges, Fifth Third (FITB) and Huntington (HBAN) are trading well below intrinsic value.
By Lalit Sharma:PNC Financial Services Group (PNC) manages $43 billion in equity assets, primarily through its investment advisory subsidiary, PNC Wealth Management, which controls the PNC series of mutual funds.
By Lalit Sharma:PNC Financial Services Group (PNC) manages $43 billion in equity assets primarily through its investment advisory subsidiary PNC Wealth Management, which controls the PNC Series of mutual funds. PNC employs both growth and value approach to investing and holds stocks for the long term.
By Derek Pilecki:I own a position in the warrants of PNC Financial (PNC), which under performed during the 2nd quarter and cost about 80 bps of performance for my portfolio. PNC is a large regional bank headquartered in Pittsburgh with operations in the Mid-Atlantic States, the Midwest and Florida. The company is conservatively run and performed better than average through the financial crisis.