PNC Financial Services – Undervalued Banking Play

27 days ago

"Now the second stock that Tom Lee owns is PNC Financial Services. The stock is up 9% year to date and, despite that, its performance since going public has been underwhelming. PNC is mostly focused on non-interest income, and even with elevated interest rates, its non-interest income grew 12% year-over-year. With a P/E ratio of about 12 times and steady dividend yield of 3% alongside growing earnings, it looks very undervalued to me."

The speaker highlights PNC Financial Services as an undervalued opportunity, driven by its growing non-interest income, solid earnings growth, and attractive valuation at around 12 times earnings. Despite being held by Tom Lee for its benefits during easing financial conditions, the speaker notes it as an interesting banking play with a good dividend.

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