PNC boosted to Buy at Sandler following earnings

|By:, SA News Editor

About the only green on the screen in the regional bank sector (KRE -0.9%) is PNC Financial (PNC +2.7%) after this morning's earnings beat. Sandler O'Neill is impressed enough to lift its rating to Buy with price target of $93.

Boding well for earnings in 2014? $130M remain in repurchase reserves - a number management (on the earnings call) says should come down thanks to settlements with the GSEs.