5. PNC Financial Services Group
Shares of PNC Financial Services Group (PNC) of Pittsburgh closed at $64.49 Friday, returning 12% during the first quarter, following a 3% decline during 2011.
The shares trade for 9.5 times the consensus 2013 earnings estimate of $6.81 a share, among analysts polled by Thomson Reuters.
PNC on March 13 announced that the Federal Reserve had "accepted its capital plan and did not object to the capital actions, which included recommendations to increase the quarterly common stock dividend in the second quarter of 2012 and a modest share repurchase program under PNC's existing common stock repurchase authorization."Credit Suisse analyst Moshe Orenbuch said on Monday that PNC plans to repurchase 25 million shares, and that he expects "the company to carefully manage capital ahead of Basel III implementation given the recent deal, potential
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