NEW YORK (TheStreet) -- This chart shows the four large-cap U.S. bank stocks leading a very strong sector during 2013:
We arrived at this list by looking at the 24 components of the KBW Bank Index (I:BKX) , along with other large-cap banks not included in the index, such as Morgan Stanley (MS) - Get Report, Goldman Sachs (GS) - Get Report, Discover Financial (DFS) - Get Report and CIT Group (CIT) - Get Report.
The KBW Bank Index has risen 33% this year, after rising 30% during 2012.
Here are some quick data points for the four large-cap bank stocks faring best so far during 2013. The return numbers below may differ from those on the chart, which include today's price action.
Morgan Stanley has been the strongest performer during 2013 among large-cap U.S. banks, with shares rising 66% through Monday's close at $31.54. The investment bank's shares trade for 1.2 times their reported Sept. 30 tangible book value of $26.96, and for 12.5 times the consensus 2014 earnings estimate of $2.53 among analysts polled by Thomson Reuters. The consensus 2015 EPS estimate is $2.96. Please see Wealth Management Gives Morgan Stanley Rare Wall Street Growth for a discussion of the company's business transformation over the past year.
KeyCorp (KEY) - Get Report of Cleveland ranks second, with shares returning 56% this year through Monday's close at $12.90. The shares trade for 1.4 times tangible book value, according to Thomson Reuters Bank Insight, and for 12.7 times the consensus 2014 EPS estimate of $1.02. The consensus 2015 EPS estimate is $1.12. Please see KeyCorp 'Strongest' in 20 Years for coverage of the bank's efficiency improvements.
State Street (STT) - Get Report of Boston takes third place, with shares returning 55% this year through Monday's close at $72.11. The trust and custody bank's shares trade for 2.8 times tangible book value, and for 13.9 times the consensus 2014 EPS estimate of $5.19. The consensus 2015 EPS estimate is $5.86. Please see TheStreet'searnings coverage for more on State Street.
Comerica (CMA) - Get Report of Dallas ranks fourth, with a not-too-shabby total return of 53% this year through Monday's close at $45.69. The shares trade for 1.3 times tangible book value, and for 15.5 times the consensus 2014 EPS estimate of $2.95. The consensus 2015 EPS estimate is $3.29. Please see TheStreet'searnings coverage for more on Comerica.
-- Written by Philip van Doorn in Jupiter, Fla.
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Philip W. van Doorn is a member of TheStreet's banking and finance team, commenting on industry and regulatory trends. He previously served as the senior analyst for TheStreet.com Ratings, responsible for assigning financial strength ratings to banks and savings and loan institutions. Mr. van Doorn previously served as a loan operations officer at Riverside National Bank in Fort Pierce, Fla., and as a credit analyst at the Federal Home Loan Bank of New York, where he monitored banks in New York, New Jersey and Puerto Rico. Mr. van Doorn has additional experience in the mutual fund and computer software industries. He holds a bachelor of science in business administration from Long Island University.