Commercial and Industrial Lending Hits Short Term High

According to Fed data, commercial and industrial lending had the highest rate of gain since 2008 with an average annual rate of nearly 10% in Q3 versus a 1.7% descent in the past four years. Former Dallas Fed president Robert McTeer says the pickup in lending may mean a Q4 acceleration in GDP could be maintained in 2012 despite the mess in Europe.

Here’s how top bank stocks are trading now:

Citigroup, Inc. (NYSE:C): C shares recently traded at $27.03, down $1.74, or 6.05%. They have traded in a 52-week range of $21.40 to $51.50. Volume today was 22,815,881 shares versus a 3-month average volume of 58,445,500 shares. The company’s trailing P/E is 7.21, while trailing earnings are $3.75 per share. Get the most recent company news and stock data here >>

Bank of America Corporation (NYSE:BAC): BAC shares recently traded at $5.41, down $0.31, or 5.42%. They have traded in a 52-week range of $5.03 to $15.31. Volume today was 93,313,097 shares versus a 3-month average volume of 272,885,000 shares. The company’s trailing earnings are $-0.31 per share. Get the most recent company news and stock data here >>

JPMorgan Chase & Co. (NYSE:JPM): JPM shares recently traded at $32.00, down $1.18, or 3.56%. They have traded in a 52-week range of $27.85 to $48.36. Volume today was 13,706,208 shares versus a 3-month average volume of 46,814,000 shares. The company’s trailing P/E is 6.82, while trailing earnings are $4.69 per share. Get the most recent company news and stock data here >>

The Goldman Sachs Group, Inc. (NYSE:GS): GS shares recently traded at $97.92, down $3.53, or 3.48%. They have traded in a 52-week range of $84.27 to $175.34. Volume today was 2,873,183 shares versus a 3-month average volume of 7,996,100 shares. The company’s trailing P/E is 14.90, while trailing earnings are $6.57 per share. Get the most recent company news and stock data here >>

Morgan Stanley (NYSE:MS): MS shares recently traded at $15.39, down $0.99, or 6.04%. They have traded in a 52-week range of $11.58 to $31.04. Volume today was 14,340,330 shares versus a 3-month average volume of 37,643,700 shares. The company’s trailing P/E is 10.09, while trailing earnings are $1.53 per share. Get the most recent company news and stock data here >>

Wells Fargo & Company (NYSE:WFC): WFC shares recently traded at $26.19, down $0.72, or 2.68%. They have traded in a 52-week range of $22.58 to $34.25. Volume today was 9,798,749 shares versus a 3-month average volume of 40,123,900 shares. The company’s trailing P/E is 9.70, while trailing earnings are $2.70 per share. Get the most recent company news and stock data here >>

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