Wells Fargo Stock Leads Banks As Stress Tests Boost Dividend Bets

Updated at 12:53 pm EST

Wells Fargo (WFC) – Get Wells Fargo & Company Reportand JPMorgan (JPM) – Get JP Morgan Chase & Co. report traded higher Friday after the Federal Reserve said that all of the nation’s largest banks could weather a severe shock to the US economy in an assessment that will allow them to boost shareholder returns over the coming year.

All 33 US-based banks — with more than $100 billion in assets — passed the Fed’s annual ‘stress test’, the central bank said late Thursday, a report card put in place in the wake of the global financial crisis that probes a bank’s ability to keep enough capital on hand to absorb losses — and protect depositors — in the event of a severe recession.


Leave a Comment

Your email address will not be published.