3 Stocks Advancing The Banking Industry

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 63 points (0.4%) at 17,115 as of Tuesday, July 22, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 2,207 issues advancing vs. 762 declining with 147 unchanged.

The Banking industry currently sits up 0.5% versus the S&P 500, which is up 0.6%. Top gainers within the industry include Canadian Imperial Bank of Commerce ( CM), up 1.1%, Royal Bank of Scotland Group (The ( RBS), up 0.8% and Lloyds Banking Group ( LYG), up 0.8%.

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

3. Wells Fargo ( WFC) is one of the companies pushing the Banking industry higher today. As of noon trading, Wells Fargo is up $0.43 (0.8%) to $51.48 on light volume. Thus far, 5.2 million shares of Wells Fargo exchanged hands as compared to its average daily volume of 14.5 million shares. The stock has ranged in price between $51.05-$51.48 after having opened the day at $51.20 as compared to the previous trading day's close of $51.05.

Wells Fargo & Company provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. Wells Fargo has a market cap of $269.5 billion and is part of the financial sector. Shares are up 12.4% year-to-date as of the close of trading on Monday. Currently there are 10 analysts who rate Wells Fargo a buy, 2 analysts rate it a sell, and 8 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 increase in stock price during the past year, increase in net income, growth in earnings per share and expanding profit margins. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. Get the full Wells Fargo Ratings Report now.

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

2. As of noon trading, Citigroup ( C) is up $0.30 (0.6%) to $49.65 on light volume. Thus far, 5.9 million shares of Citigroup exchanged hands as compared to its average daily volume of 16.7 million shares. The stock has ranged in price between $49.38-$49.76 after having opened the day at $49.60 as compared to the previous trading day's close of $49.35.

Citigroup Inc., a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions. Citigroup has a market cap of $151.3 billion and is part of the financial sector. Shares are down 5.3% year-to-date as of the close of trading on Monday. Currently there are 15 analysts who rate Citigroup a buy, 1 analyst rates it a sell, and 5 rate it a hold.

TheStreet Ratings rates Citigroup as a buy. Among the primary strengths of the company is its reasonable valuation levels, considering its current price compared to earnings, book value and other measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Citigroup Ratings Report now.

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

1. As of noon trading, JPMorgan Chase ( JPM) is up $0.50 (0.9%) to $58.74 on light volume. Thus far, 4.8 million shares of JPMorgan Chase exchanged hands as compared to its average daily volume of 14.4 million shares. The stock has ranged in price between $58.37-$58.76 after having opened the day at $58.42 as compared to the previous trading day's close of $58.24.

JPMorgan Chase & Co., a financial holding company, provides various financial services worldwide. The company operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset Management. JPMorgan Chase has a market cap of $222.2 billion and is part of the financial sector. Shares are down 0.4% year-to-date as of the close of trading on Monday. Currently there are 17 analysts who rate JPMorgan Chase a buy, 1 analyst rates it a sell, and 4 rate it a hold.

TheStreet Ratings rates JPMorgan Chase as a buy. The company's strengths can be seen in multiple areas, such as its expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. Get the full JPMorgan Chase Ratings Report now.

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

If you are interested in one of these 3 stocks, ETFs may be of interest. Investors who are bullish on the banking industry could consider KBW Bank ETF ( KBE) while those bearish on the banking industry could consider ProShares Short KBW Regional Bankng ( KRS).
null

If you liked this article you might like

Cisco, Warren Buffett and Apple, McDonald's - 5 Things You Must Know

Cisco, Warren Buffett and Apple, McDonald's - 5 Things You Must Know

Why Millennials Love Warren Buffett

Why Millennials Love Warren Buffett

Why I Like Bank of America and Goldman Sachs as Inflation Hedges: Market Recon
Wells Fargo Credit-Rating Slashed by S&P After Fed Imposes Growth Ban

Wells Fargo Credit-Rating Slashed by S&P After Fed Imposes Growth Ban

In Wells Fargo's Board `Refreshment,' There Are No Spa Treatments

In Wells Fargo's Board `Refreshment,' There Are No Spa Treatments