Barron's: "PNC Financial Has Cash to Spend After Selling BlackRock Stake. Why It Shouldn’t Buy Another Bank."

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Barron's: "PNC Financial Has Cash to Spend After Selling BlackRock Stake. Why It Shouldn’t Buy Another Bank."

Excerpt from Barron’s quoting DataTrek’s Nick Colas:

…. “PNC’s sale of its BlackRock stake concludes one of the greatest investments made by any U.S. bank in the last 30 years,” Nicholas Colas, co-founder of DataTrek, said in a note Wednesday. “It will now most likely use the proceeds to buy other banks. That’s a shame, because the fintech/payments space has definitively won investors’ hearts and minds”…

Read the full article here in Barron’s!