PNC Financial downgraded at Morgan Stanley As previously reported, Morgan Stanley downgraded PNC Financial to Equal Weight from Overweight. The firm downgraded shares due to valuation. Price target remains $78.
News For PNC From The Last 14 Days
Check below for free stories on PNC the last two weeks.
PNC 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
PNC 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.