The financial sector closed the day up 0.3%. Northern States Financial ( NSFC), Republic First Bancorp Inc ( FRBK), SGOCO Group ( SGOC), and First Financial Service Corporation ( FFKY) were all winners today within the financial sector with Wells Fargo ( WFC) being today's featured financial winner. Wells Fargo rose 30 cents (1.2%) to $24.51 on average volume. Throughout the day, 35.8 million shares of Wells Fargo exchanged hands as compared to its average daily volume of 44.1 million shares. 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 $122.4 billion and is part of the banking industry. The company has a P/E ratio of nine, equal to the average banking industry P/E ratio and below the S&P 500 P/E ratio of 17.7. Shares are down 21.9% year to date as of the close of trading on Tuesday. TheStreet Ratings rates Wells Fargo as a buy. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, expanding profit margins, compelling growth in net income, notable return on equity and attractive valuation levels. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself.
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