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Wells Fargo's stock surges to pace the stress-test passers' gainers

Shares of Wells Fargo & Co. WFC, +3.37% surged 5.7% in noon trade Friday, placing them on track to near at a 3 1\/2-month excessive, after bank mentioned it will elevate its dividend 10% and purchase as much as $24.5 billion within the aftermath of passing the Federal Reserve's strain verify. The rally paces all the shares of monetary corporations that handed the stress exams. Among the opposite biggest gainers, stocks of Ally Financial Inc. ALLY, +2.18% hiked up 3.9% and CIT Group Inc. CIT, +1.55% climbed 3.3%. Of some of the extra energetic stress-test passer, share of Bank of America Corp. BAC, -1.67% rose 1.2%, of Citigroup Inc. C, +0.06% rallied 2.5% and J.P. Morgan Chase & Co. JPM, -0.70% won 1.5%. The monetary sector was the most efficient performer of the S&P 500's SPX, +0.08% 11 key sectors, with the SPDR Financial Select Sector ETF XLF, +0.00% rising 1.5%, posting a 2d day of features after a record-setting 13-straight losses. The ETF is now down 3.3% year so far, while the S&P 500 is up 2.5%.

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These shares have the best dividend yields of the stress-test passers

If you’re on the lookout for a high-yielding bank inventory, among the ones perhaps to continue to exist the following monetary meltdown, check out Huntington Bancshares, KeyCorp and Wells Fargo & Co.