- Shares of Bank of America (BAC) closed at $8.06 Thursday, returning 45% year-to-date, following a 58% decline in 2011. The shares trade for just 0.7 times tangible book value, but for 11 times the consensus 2012 EPS estimate of 71 cents, which is the highest forward price-to-earnings ratio among the big four. The consensus 2012 EPS estimate is $1.19.
- Shares of Citigroup (C) closed at $33.99 Thursday, returning 29% year-to-date, following last year's 44% decline. Citi also trades at a 0.7 times tangible book, but at a much lower multiple of 8.5 times the consensus 2012 EPS estimate of $3.99. The consensus EPS estimate for 2013 is $4.79.
- Wells Fargo (WFC) closed at $31.39 Thursday, returning 14% year-to-date. The shares trade twice their tangible book value, which is the highest price to book ratio among the big four, reflecting Well's Fargo's relatively strong recent earnings performance, with returns on average assets ranging between 1.11% and 1.27% over the past five quarters, according to HighlineFI. The shares trade for 10 times the consensus 2012 EPS estimate of $3.20. The consensus 2013 EPS estimate is $3.69.
NEW YORK ( TheStreet) -- Guggenheim Securities analyst Marty Mosby on Thursday initiated his firm's coverage of JPMorgan Chase ( JPM), saying the company's "annualized total shareholder return through 2013 could approach 20%." Mosby's 12-month price target for JPMorgan Chase is $50, indicating 24% upside from Thursday's close at $40.44. JPMorgan's shares returned 23% year-to-date through Thursday's close, following a 20% decline in 2011.The shares trade for 1.3 times tangible book value, according to HighlineFi, and for nine times the consensus 2012 earnings estimate of $4.69, among analysts polled by Thomson Reuters. The consensus 2013 EPS estimate is $5.45. Here's how JPMorgan's valuation compares to the rest of the "big four" U.S. bank holding companies: