This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Bank of America Mortgage Retreat Benefits These 6 Banks

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

6. PNC Financial (PNC - Get Report)

PNC's mortgage business saw a 14% gain in its mortgage business in the fourth quarter versus 2010, though it still ranked just 17th in the quarter with just 0.8% market share, according to FBR and trade publication Inside Mortgage Finance.

FBR's Miller has an "outperform" rating on PNC and he recently increased his price target to $68 from $60 following the bank's fouth quarter earnings release. PNC reported a significant earnings miss due to one-time charges related to a potential foreclosure settlement and the calling of trust-preferred securities. However, Miller believes the real story behind this earnings release was the guidance management provided surrounding its acquisition of the Royal Bank of Canada's U.S. operation for $3.45 billion.

"Taking into account management's guidance for mid-high single digit percentage increases in revenue combined with mid-single-digit increases in expenses, we believe consensus operating estimates need to rise from their current level near $6.30," Miller wrote.

2 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
BAC $15.65 0.58%
BBT $37.97 0.98%
C $53.03 0.44%
FITB $19.83 0.92%
PNC $91.43 0.67%

Markets

DOW 18,110.14 +72.17 0.40%
S&P 500 2,114.90 +5.98 0.28%
NASDAQ 5,055.4220 -4.8240 -0.10%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs