This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Wells Fargo Is Now Most Valuable U.S. Bank

SAN FRANCISCO ( TheStreet) -- Wells Fargo (WFC - Get Report) isn't the biggest bank in the United States, but as of Thursday afternoon, it's the most valuable.

As of Thursday's close, the San Francisco-based lender was worth $157.6 billion by market capitalization, up 0.8% at $30.02 per share -- just $1.2 billion more than JPMorgan Chase (JPM - Get Report), which closed down 0.5% at $40.01.

Bank of America (BAC - Get Report), whose stock has been beaten down this year, is valued at just $126.3 billion, having closed up 1.9% at $12.52 per share. Citigroup (C - Get Report), despite its heavy dilution from the federal government's stock conversion, is worth $133.2 billion following a flat close at $4.59.

With $1.2 trillion in assets, Wells is much smaller than any of those three competitors, whose balance sheets top $2 trillion apiece. Yet its shares have held up relatively well throughout the crisis, basically flat from the start of 2008. The company grew its footprint with the acquisition of Wachovia and has been expanding its presence in many business lines -- from consumer banking to capital markets activities and wealth management -- while Bank of America and Citi are shrinking.

The company is also well-loved on Wall Street, with KBW citing Wells Fargo as a top pick on Thursday morning. Analysts cited the potential for Wells to boost its dividend next year and said its stock is trading at a "meaningful discount" relative to its peers. Of the 31 analysts covering the shares, 22 rate it at either strong buy (8) or buy (14).

-- Written by Lauren Tara LaCapra in New York.

>To contact the writer of this article, click here: Lauren Tara LaCapra.

>To follow the writer on Twitter, go to

>To submit a news tip, send an email to:
Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
BAC $14.56 0.00%
C $46.28 0.00%
JPM $63.20 0.00%
WFC $49.98 0.00%
AAPL $93.74 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs