Wells Fargo and JPMorgan Join 'Beacons of Growth'

NEW YORK ( TheStreet) -- JPMorgan Chase ( JPM) and Wells Fargo ( WFC) are among 17 new members of Keefe Bruyette & Woods 2011 "Bank Honor Roll," a list of "banking institutions that achieved positive earnings per share growth trends over the last decade, regardless of the economic environment."

The new list of what KBW calls "beacons of growth in a growth-challenged industry," now includes 45 banking institutions, though Wells and JPMorgan are the only members of the honor roll among the 10 largest U.S. banks.

In order to be eligible for the list, banks cannot post a loss in net income per share before extraordinary items over the past 10 years. Also, its 2011 earnings per share must be equal or greater to the peak number from the past 10 years. Finally, the bank must have increased earnings each year for at least the past three years.

KBW notes that the bank honor roll members have "significantly outperformed the banking industry and the market" since 2006. KBW's analysts have an "outperform" rating on JPMorgan and a "market perform" on Wells Fargo.

-- Written by Dan Freed in New York.

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Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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