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.