Talk of a Fed Funds rate hike later this year is for financial companies like Wells Fargo and the stock remains relatively inexpensive. WFC trades at a of 13.25x (2015 estimates), P/S ratio of 3.42x, and a P/B ratio of 1.70x. The top line is projected to increase 3.9% this year and accelerate 6.1% in 2016 ($93B).
Looking at the above we can see another 1% or so rise in shares would confirm a technical breakout (confirming the and options activity). A low risk way to play it would be via Mar 20 $55 or $56 calls or via longer dated call spreads (July $55/$60 call spread) for a favorable reward/risk ratio to the higher $50's/low $60's.