The banking industry closed the day down 2.3%. Carver Bancorp Inc ( CARV), Capital Bank Corporation ( CBKN), Bank VA Chesterfield ( BOVA), and Bank of Ireland (Governor & Company of ( IRE) were all decliners today within the banking industry with Wells Fargo ( WFC) being today's featured banking loser. Wells Fargo fell 83 cents (-3.3%) to $24.54 on average volume. Throughout the day, 39.4 million shares of Wells Fargo exchanged hands as compared to its average daily volume of 44.4 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 $129.4 billion and is part of the financial sector. The company has a P/E ratio of 9.5, equal to the average banking industry P/E ratio and below the S&P 500 P/E ratio of 17.7. Shares are down 18.1% year to date as of the close of trading on Thursday. TheStreet Ratings rates Wells Fargo as a hold. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, expanding profit margins and good cash flow from operations. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year.
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