Wells Fargo & Co. Stock Underperforms Wednesday When Compared To Competitors Despite Daily Gains
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Shares of Wells Fargo & Co. (WFC) advanced 5.39% to $40.46 Wednesday, on what proved to be an all-around great trading session for the stock market, with the S&P 500 Index rising 1.19% to 4,158.77 and the Dow Jones Industrial Average rising 1.24% to 33,420.77.
Wells Fargo & Co. closed $8.38 short of its 52-week high ($48.84), which the company achieved on February 14th.
The stock demonstrated a mixed performance when compared to some of its competitors Wednesday, as U.S. Bancorp (USB) rose 6.17% to $30.45, U.S. Bancorp Dep. Pfd. (Rep. 1/1000th Non-Cum. Perp. Pfd. Series K) rose 3.19% to $22.32, and U.S. Bancorp Dep. Pfd. (Rep. 1/1000th Perp. 3.75% Pfd. Series L) rose 3.49% to $15.73.
Trading volume (28.9 M) eclipsed its 50-day average volume of 28.6 M.
Data source: Dow Jones Market Data, FactSet. Data compiled May 17, 2023.
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May 17, 2023 17:32 ET (21:32 GMT)
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