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4-Traders Homepage  >  Equities  >  Nyse  >  PNC Financial Services Group    PNC

Delayed Quote. Delayed  - 01/17 10:00:12 pm
154.23 USD   +1.29%
01/17 PNC FINANCIAL S : Bank To Provide Banking Service To Point Park Univ..
01/16 PNC FINANCIAL S : Mortgage Earnings, Lending Down
01/16 PNC FINANCIAL S : ex-dividend day
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Fed Fines Five Large Banks -- WSJ

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01/13/2018 | 08:48am CET
By Ryan Tracy 

This article is being republished as part of our daily reproduction of WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal (January 13, 2018).

WASHINGTON -- The Federal Reserve fined five big banks a total of $35.1 million for issues related to financial-crisis-era mortgage servicing and foreclosures, while also moving them out of the penalty box for what it said was a "substantial improvement" in their practices.

The fines relate to deficiencies that regulators saw in the wake of a meltdown in the U.S. housing market around the 2008-09 financial crisis.

Goldman Sachs Group Inc. was fined $14 million; Morgan Stanley, $8 million; CIT Group Inc., $5.2 million; U.S. Bancorp, $4.4 million, and PNC Financial Services Group Inc., $3.5 million.

The five firms had been slapped with enforcement actions in 2011 and 2012 for what the Fed said were "deficiencies in residential mortgage loan servicing and foreclosure processing."

The Fed said the firms have made "substantial improvement" in their practices.

The central bank didn't provide an explanation for the timing of the penalties. Banks can be subject to enforcement orders for years before they remediate regulators' concerns.

Separately, the Fed penalized Goldman Sachs $90,000 for violations related to the National Flood Insurance Act.

Representatives of U.S. Bancorp, CIT and PNC said they were pleased the matter has been resolved. Morgan Stanley declined to comment. Goldman Sachs didn't reply to a request for comment.

Write to Ryan Tracy at [email protected]

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Financials ($)
Sales 2018 17 208 M
EBIT 2018 6 801 M
Net income 2018 4 910 M
Debt 2018 -
Yield 2018 2,17%
P/E ratio 2018 14,48
P/E ratio 2019 13,34
Capi. / Sales 2018 4,21x
Capi. / Sales 2019 4,02x
Capitalization 72 445 M
Chart PNC FINANCIAL SERVICES GRO
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PNC Financial Services Gro Technical Analysis Chart | PNC | US6934751057 | 4-Traders
Technical analysis trends PNC FINANCIAL SERVICES GRO
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 159 $
Spread / Average Target 4,4%
EPS Revisions
Managers
NameTitle
William Stanton Demchak Chairman, President & Chief Executive Officer
Robert Q. Reilly Chief Financial Officer & Executive Vice President
Steven C. van Wyk Executive VP, Head-Technology & Innovation
Deborah Guild Chief Information & Security Officer
Richard B. Kelson Independent Director
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