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Stock Market & Financial Investment News

News Breaks
January 17, 2014
07:00 EDTPNC, STIPNC Financial reported strong results, says Wells Fargo
After PNC (PNC) reported better than expected Q4 results, Wells Fargo increased its price target on the stock to $83-$85 from $80-$83. However, the firm continues to recommend SunTrust (STI) over PNC, as it believes that PNC will have more difficulty generating EPS growth in 2014. The firm keeps a Market Perform rating on PNC.
News For PNC;STI From The Last 14 Days
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September 16, 2014
16:30 EDTPNCPNC Financial provides results of Dodd-Frank stress test
PNC Financial reports that during a severely adverse scenario its Tier 1 risk-based capital ratio would be 6%; Common equity Tier 1 capital would be 4.5%. Reference Link
September 9, 2014
11:22 EDTSTISunTrust sees modest decline potential in cyclical costs, other expenses
Says committed to maintaining strong expense discipline. Says that there is potential for modest declines in cyclical costs and other credit-related expenses. Believes company's size is an advantage. In terms of the company's consumer banking and private wealth management area, it looks to grow wealth management, optimize the delivery model, increase consumer lending production and continue to improve retail productivity. Says that there is further potential in improving the company's overall return profile and capital return to shareholders. Comments take from the company's slide presentation at the Barclays 2014 Global Financial Services Conference.
11:06 EDTPNCPNC Financial says investing 'heavily' in cybersecurity
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11:03 EDTPNCPNC sees ability to increase fee revenue by $1B over the next 3-5 years
10:56 EDTPNCPNC Financial says Q3 shaping up 'in line' with guidance
Says remains focused on acquiring appropriate risk-adjusted assets. Capital priorities include building capital to support client growth and business investment, maintaining appropriate capital in light of economic uncertainty, returning excess capital to shareholders via dividend and buybacks. Chairman, President and CEO William Demchak says 35% of PNC's deposits are by ATM and mobile. Sees continued focus on expense savings initiatives through CIP goal of $500M. Says still evaluating new LCR rules. Says has flexibility to execute more repurchases throughout the year. Comments made at the Barclays Global Financial Services Conference.
September 8, 2014
07:24 EDTPNC, STIBarclays to hold a conference
Global Financial Services Conference to be held in New York on September 8-10.

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