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24/7 Wall St.: The 7 Safest Banks in America

1. Wells Fargo & Company

Wells Fargo & Company (NYSE: WFC) is now the undisputed safest bank in America now that JPMorgan Chase & Co. (NYSE: JPM) has come under scrutiny — even if Chase has about $1 trillion more in assets. Wells Fargo has branches in almost every state in the U.S. with some 6,200 storefront branches and over 12,000 ATMs. The bank has an asset base of over $1.3 trillion. To prove how safe this bank is, Warren Buffett’s Berkshire Hathaway Inc. (NYSE: BRK-A) owns close to $13 billion worth of the common stock, and that stake keeps rising. The market cap is a whopping $171 billion. The shares trade at less than 9 times earnings and at almost 1.2 times book value. The return on equity is just above 12%, and it offers a 2.7% dividend yield to the common holders. While shares trade at around $32.50, Wall Street values the top bank at almost $38.00 per share.

(AP Photo/Paul Sakuma)

More From 24/7 Wall St.:
10 Brands That Will Disappear in 2013
Banks Hiding the Least and Most Fees
America’s Most and Least Peaceful States

The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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