3 Financial Stocks Nudging The Sector Higher

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 105 points (0.6%) at 16,554 as of Tuesday, April 22, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 2,226 issues advancing vs. 749 declining with 155 unchanged.

The Financial sector currently sits up 0.4% versus the S&P 500, which is up 0.6%. Top gainers within the sector include MGIC Investment Corporation ( MTG), up 7.1%, Genworth Financial ( GNW), up 4.4%, Blackstone Group ( BX), up 4.0%, NASDAQ OMX Group ( NDAQ), up 3.0% and Regions Financial Corporation ( RF), up 1.9%. On the negative front, top decliners within the sector include HDFC Bank ( HDB), down 2.3%, Woori Finance Holdings ( WF), down 2.1%, KB Financial Group ( KB), down 1.5%, Mitsubishi UFJ Financial Group ( MTU), down 1.5% and Health Care REIT ( HCN), down 1.1%.

TheStreet would like to highlight 3 stocks pushing the sector higher today:

3. Wells Fargo ( WFC) is one of the companies pushing the Financial sector higher today. As of noon trading, Wells Fargo is up $0.25 (0.5%) to $49.37 on light volume. Thus far, 6.6 million shares of Wells Fargo exchanged hands as compared to its average daily volume of 17.7 million shares. The stock has ranged in price between $48.90-$49.49 after having opened the day at $49.04 as compared to the previous trading day's close of $49.12.

Wells Fargo & Company provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. Wells Fargo has a market cap of $257.0 billion and is part of the banking industry. Shares are up 8.2% year-to-date as of the close of trading on Monday. Currently there are 10 analysts who rate Wells Fargo a buy, 1 analyst rates it a sell, and 11 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 solid stock price performance, growth in earnings per share, increase in net income, expanding profit margins and notable return on equity. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. Get the full Wells Fargo Ratings Report now.

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