Wells Fargo Reaches New 52-Week High (WFC)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK ( TheStreet) -- Wells Fargo (NYSE: WFC) hit a new 52-week high Wednesday as it is currently trading at $38.57, above its previous 52-week high of $38.56 with seven million shares traded as of 10:55 a.m. ET. Average volume has been 22.1 million shares over the past 30 days.

Wells Fargo has a market cap of $199.88 billion and is part of the financial sector and banking industry. Shares are up 12.3% year to date as of the close of trading on Tuesday.

Wells Fargo & Company provides retail, commercial, and corporate banking services. The company has a P/E ratio of 10.7, below the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Wells Fargo as a buy. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, impressive record of earnings per share growth, compelling growth in net income, expanding profit margins and notable return on equity. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full Wells Fargo Ratings Report.

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