PNC (NYSE:PNC) Acquiring Southern Bank Unlikely Says Bove

Rochdale Securities analyst Dick Bove commented on rumors and speculation surrounding the possibility PNC Financial (NYSE:PNC) may be looking for a southern bank to acquire, especially in the state of Florida.

Bove said he doesn't believe that would make any sense for them, citing BankAtlantic (NYSE:BBX) and Regions Financial (NYSE:RF) as two of the acquisition targets named.

Not suggesting they are being courted by PNC, BankAtlantic did say they were always "open to opportunities."

Bove has a "Buy" rating on PNC, which closed Thursday at $58.42, down $0.14, or 0.24 percent. He has a "Neutral" rating on Regions, which closed at $6.13, down $0.18, or 2.85 percent. BankAtlantic closed at $1.28, up $0.32, or 33.33 percent.