What's surprising is why PNC Financial Services, BlackRock's majority owner, would even contemplate giving up its stake.
"Goldman Sachs is likely to benefit more than regional banks like Wells Fargo or PNC Financial Services, " Koester says.
Pittsburgh decidedly progressed in a greener direction with the guidance and influence of PNC Financial Services Group, Inc.
Robert Dye is a senior economist with PNC Financial Services in Pittsburgh.
Another recent Berkshire Hathaway purchase: 715, 000 shares of Pittsburgh-based PNC Financial Services Group (nyse: PNC - news - people ).
Bank of America and PNC Financial Services Groupannounced earlier this month that they would be selling a total of 42 million shares in BlackRock.
Even PNC Financial Services ( PNC), typically a no-fee advocate in the banking world, has carefully left the door open to debit card fees.
What's surprising is why PNC Financial Services (nyse: PNC - news - people ), BlackRock's majority owner, would even contemplate giving up its stake.
Shares of BlackRock sunk 4.6% Wednesday after announcing Bank of America and PNC Financial Services will sell a portion of their stakes in the company through a secondary offering.
The fees began to lose momentum over the past two weeks, when executives of big banks like Citigroup Inc. and PNC Financial Services Group Inc. said they had no plans to impose the fees.
Perhaps more to the point, last year, 100 people were arrested in the United States and the United Kingdom for stealing bank-account information and money itself from JP Morgan Chase, Ally Financial, and PNC Financial Services Group.
Among the largest underlying components of XLF, in trading today PNC Financial Services Group ( NYSE: PNC) is up about 0.2%, Bank of New York Mellon Corp ( NYSE: BK) is down about 0.6%, and Prudential Financial, Inc. ( NYSE: PRU) is lower by about 0.8%.
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