Top Banking Stocks Surge in Morning Session (Citigroup, PFBC, JPM, WFC, FITB)

Citigroup Inc. (NYSE:C) added 0.92% to $4.41. Over the last 52 weeks the stock has ranged from a low of $2.55 to a high of $5.43.   The stock has surged 32% in this year. 

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Preferred Bank (NASDAQ:PFBC) sky rocketed 55.67% to $3.02 after today reported preliminary results for the quarter ended March 31, 2010. Preferred Bank reported net income of $3.1 million or $0.20 per diluted share for the quarter compared to a net loss of $1.3 million or $0.14 per diluted share for the first quarter of 2009 and compared to a net loss of $28.4 million or $1.80 per diluted share for the fourth quarter of 2009. Over the last 52 weeks the stock has ranged from a low of $1.18 to a high of $5.13.

JPMorgan Chase & Co. (NYSE:JPM) climbed 2.04% to $43.45. Over the last 52 weeks the stock has ranged from a low of $31.59 to a high of $48.20.   

Wells Fargo & Company (NYSE:WFC) rose 1.87% to $33.73.  The company and Grameen America today announced a $1 million equity-equivalent (EQ2) investment by Wells Fargo in Grameen America, a non-profit microfinance organization located in the U.S. EQ2s are a limited below market rate loan reserved for community development organizations that have a growing business relationship with Wells Fargo. In the past five years, Wells Fargo has provided more than $92 million in EQ2 financing to the communities it serves. Over the last 52 weeks the stock has ranged from a low of $19.35 to a high of $34.25.

Fifth Third Bancorp (NASDAQ:FITB) increased 1.37% to $15.12. Over the last 52 weeks the stock has ranged from a low of $3.76 to a high of $15.95. The stock has surged 54% in this year. 

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