For Immediate Release
Chicago, IL – Dec 4, 2017 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include The PNC Financial Services Group (NYSE:PNC) , Wells Fargo & Company (NYSE:WFC) , Citigroup (NYSE:C) and BlackRock (NYSE:BLK) .
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
Here are highlights from Friday’s Analyst Blog:
Bank Stock Roundup: PNC, Wells Fargo, Citigroup and BlackRock
Over the last five trading days, performance of banking stocks was overtly positive. The bullish trend was largely driven by progress in tax reform bill, favorable economic data and positive comments by Jerome H. Powell — President Trump's nominee for Fed Chairman.
Powell’s comments in support of lesser regulations cheered investors. Apart from this, stability in the Fed's policy despite leadership change is a good sign for the banking sector. Also, encouraging economic data (surge in consumer confidence and higher-than-expected GDP rate) point toward an improving economy.
All these favorable factors drove banking stocks higher. Further, banks continued with their initiatives to improve operating efficiency and strengthen profitability through restructuring businesses.
(Read: Bank Stock Roundup for the week ending Nov 10, 2017)
Important Developments of the Week
1. PNC Bank, the banking services arm of The PNC Financial Services Group, announced a definitive agreement to acquire The Trout Group, LLC, provider financial services to the healthcare industry. The acquisition is in sync with the company’s goal offer long-term relationship-based advice to clients through a major communications and advisory practice firm. (Read more: PNC Financial to Strengthen IR Division With Trout Buyout)
2. Continuing with its efforts to streamline insurance products, Wells Fargo & Company is set to exit the Personal Insurance business. The bank expects to complete the exit process by first-quarter 2018. However, till then, it will continue to provide Personal Insurance products and serve customer policies. (Read more: Wells Fargo Set to Close Personal Insurance Business)
3. Citibanamex, a Mexican subsidiary of Citigroup, has entered into an agreement to divest its asset management business to BlackRock. The deal involves selling nearly $31 billion in assets under management of Citibanamex across local fixed income, equity and multi-asset products. The transaction is expected to close in the second half of 2018, subject to necessary regulatory approvals. (Read more: BlackRock to Buy Citi's Asset Management Business in Mexico)
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1 Stock of the Day pick for free.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has nearly tripled the market from 1988 through 2015. Its average gain has been a stellar +26% per year.See these high-potential stocks free >>.
Follow us on Twitter: https://twitter.com/zacksresearch
Join us on Facebook (NASDAQ:FB): https://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
PNC Financial Services Group, Inc. (The) (PNC): Free Stock Analysis Report
Wells Fargo & Company (WFC): Free Stock Analysis Report
Citigroup Inc. (C): Free Stock Analysis Report
BlackRock, Inc. (BLK): Free Stock Analysis Report
Original post