Guess which firm is now the most valuable U.S. bank ever

Wells Fargo Logo

A market cap of $285.5bn.

Wells Fargo finished trading Friday as the most valuable U.S. bank ever, surpassing Citigroup’s 2001 record.

Bloomberg News reports that Wells Fargo closed with a market capitalization of $285.5bn, based on 5.19bn shares outstanding on October 31, according to data compiled by Bloomberg.

That beats the previous record set by Citigroup on Feb. 5, 2001, when its value reached $283.4bn, the data show.

Wells Fargo, which counts Warren Buffett’s Berkshire Hathaway as its largest shareholder, doubled its size in 2008 by outmaneuvering Citigroup to purchase Wachovia. Chief Executive Officer John Stumpf made one of every four U.S. mortgages last year and now oversees the most U.S. bank branches.

To access the complete Bloomberg News article hit the link below:

Wells Fargo Breaks Citigroup’s 2001 Record for Bank Value

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