- Shares of Citigroup (C - Get Report) closed at $36.69 Friday, returning 40% year-to-date, following a 44% decline during 2011. The shares are heavily discounted, trading for just 0.7 times tangible book value, according to HighlineFI, which is a lower multiple than any of the Midwest banks listed here. Citi trades for nine times the consensus 2012 earnings estimate of $3.97, among analysts polled by Thomson Reuters, which is lower estimated 2012 multiple than any of our Midwest group. The consensus 2013 EPS estimate is $4.78.
- Shares of Bank of America (BAC - Get Report) closed at $9.80 Friday, returning 76% year-to-date, following a 58% drop during 2011. The shares trade for 0.8 times tangible book value, which is also a lower multiple than any of the Midwest banks listed here. The shares trade for a relatively high 14 times the consensus 2012 earnings estimate of 69 cents. The consensus 2013 EPS estimate is $1.19.
- Shares of JPMorgan Chase (JPM - Get Report) closed at $44.57 Friday, returning 35% year-to-date, following a 20% decline during 2011. The shares trade for 1.4 times tangible book value and for nine times the consensus 2012 EPS estimate of $4.73. The consensus 2013 EPS estimate is $5.51. Last Tuesday, JPMorgan announced it would raise its quarterly dividend by a nickel to 30 cents, and that its board of directors had authorized $15 billion in common stock buybacks.
- Shares of Wells Fargo (WFC - Get Report) closed at $33.89 Friday, returning 23$ year-to-date, following last year's 10% pullback. The shares trade for 2.2 times tangible book value and for 11 times the consensus 2012 EPS estimate of $3.20. The consensus 2013 EPS estimate is $3.69. Wells Fargo last Tuesday raised its quarterly dividend to 22 cents from 12 cents. The company also said that the Federal Reserve had approved its plan to increase share buybacks over 2011 levels.
10 Midwest Bank Stocks Finally Paying Off
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