Wells Fargo (WFC) pushed the Banking industry lower today making it today's featured Banking loser. The industry as a whole closed the day up 0.3%. By the end of trading, Wells Fargo fell 35 cents (-1%) to $33.15 on average volume. Throughout the day, 26.8 million shares of Wells Fargo exchanged hands as compared to its average daily volume of 28.1 million shares. The stock ranged in price between $32.85-$33.55 after having opened the day at $33.14 as compared to the previous trading day's close of $33.50. Other company's within the Banking industry that declined today were: OptimumBank Holdings (OPHC), down 24%, Ohio Legacy Corporation (OLCB), down 11.8%, National Bank of Greece (NBG), down 9.1%, and Community West (CWBC), down 8.7%. Wells Fargo & Company, through its subsidiaries, provides retail, commercial, and corporate banking services primarily in the United States. The company operates in three segments: Community Banking; Wholesale Banking; and Wealth, Brokerage, and Retirement. Wells Fargo has a market cap of $174.32 billion and is part of the financial sector. The company has a P/E ratio of 11.4, equal to the average banking industry P/E ratio and below the S&P 500 P/E ratio of 17.7. Shares are up 21.6% year to date as of the close of trading on Monday. Currently there are 20 analysts that rate Wells Fargo a buy, one analyst rates it a sell, and three rate it a hold. TheStreet Ratings rates Wells Fargo as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, increase in net income, expanding profit margins and solid stock price performance. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.
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