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Wells Fargo Blasts Past JP Morgan To Become Biggest Bank By Market Cap (JPM, WFC)

Wells Fargo has overtaken JP Morgan to become the largest U.S. bank by stock-market value, Bloomberg notes. Wells Fargo’s market cap increased to $157.6 billion at the close of today's trading. JPMorgan's value is $156.4 billion. For the year, Wells Fargo is up 11%, while JP Morgan has lost 4%. The reason investors are excited about Wells Fargo? Its acquisition of Wachovia in the depths of the financial crisis is paying off.
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