{"id":23651,"date":"2023-06-16T18:20:42","date_gmt":"2023-06-16T22:20:42","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/pro-picks-4-hefty-bank-plays-as-the-fed-pauses-rate-hikes\/"},"modified":"2023-06-16T18:20:43","modified_gmt":"2023-06-16T22:20:43","slug":"pro-picks-4-hefty-bank-plays-as-the-fed-pauses-rate-hikes","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=23651","title":{"rendered":"Pro Picks: 4 Hefty Bank Plays as the Fed Pauses Rate Hikes"},"content":{"rendered":"
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\u00a9 Pavlo Gonchar \/ SOPA Images\/Sipa via Reuters Connect <\/span>
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The Federal Reserve has finally paused its aggressive campaign to raise interest rates after 10 straight hikes since March of last year. Still, it anticipates two more bumps before the year is out, so we\u2019ll be in a high-interest-rate environment for the foreseeable future. While many sectors are hurt by this kind of backdrop, banks tend to flourish, in large part because it means they earn more from loans than they need to pay out on deposits.<\/p>\n

This week\u2019s VIP Pro Picks calls out four bank stocks that also sport exceptional InvestingPro financial health rankings and are trading well under fair value. Among those that rise to the top is regional bank PNC Financial (NYSE:).<\/p>\n

Like all Pro Picks, PNC and the rest of this week\u2019s selections have all earned a InvestingPro financial health score of 2.75 or more out of 5, which for the last 7 years has indicated outperformance vs. the . That score indicates firm financials: top-notch earnings, cash flow, and growth vs. peers.<\/p>\n

PNC was caught in the larger regional-bank pullback earlier this year, and despite a partial recovery, shares are still off nearly 20% year to date. But Citi analysts upgraded the stock to Buy after that slide and called its management team \u201cone of the best\u201d among large regional banks, citing the bank\u2019s \u201cclean asset quality\u201d and \u201cstrong deposit base.\u201d<\/p>\n

InvestingPro\u2019s metrics align well with those sentiments: PNC rocks a solid InvestingPro health score of 3.02 thanks in large part to a stalwart bottom line. The bank serves up excellent earnings quality, with free cash flow tending to surpass net income, and it has a strong revenue trend that outranks virtually all its peers. With all that, InvestingPro\u2019s fair value calculations say the stock should rise nearly 30% from current levels.<\/p>\n

And you\u2019ll get paid to wait for that upside: PNC\u2019s dividend has been going strong for 52 years, and its current payout is a generous 4.7%.<\/p>\n

Want to see the full list of this month’s Pro Picks poised to beat the market? Start a 7-day free trial to unlock must-have insights and data. And while you\u2019re here, dig into InvestingPro\u2019s wealth of tools and screeners to begin building a lucrative portfolio.<\/p>\n

If you’re already an InvestingPro subscriber, this week’s full Pro Picks list is available here.<\/p>\n

Data as of June 15, 2023.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Pavlo Gonchar \/ SOPA Images\/Sipa via Reuters Connect The Federal Reserve has finally paused its aggressive campaign to raise interest rates after 10 straight hikes since March of last year. Still, it anticipates two more bumps before the year is out, so we\u2019ll be in a high-interest-rate environment for the foreseeable future. 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