Does PNC (PNC) Have the Wherewithal to Payback TARP?
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Now that Citiroup (NYSE: C) and Wells Fargo (NYSE: WFC) have announced plans to payback TARP, eyes are turning toward PNC Financial Services Group, Inc. (NYSE: PNC). PNC has $7.6 billion from TARP and has said in the past that it will redeem the government's preferred shares as soon as appropriate, subject to approval by its primary banking regulators.
Shares of PNC are down 2.9% today to $51.80.
Shares of PNC are down 2.9% today to $51.80.
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