- Shares of JPMorgan Chase (JPM) closed at $41.25 Friday, returning 26% year-to-date, following a 20% loss last year. The shares trade for 1.2 times tangible book value, and for eight times the consensus 2013 EPS estimate of $5.20. The consensus 2012 EPS estimate is $4.71. JPMorgan's ROA for the 12-months ended June 30 was 0.79%, while its ROE was 9.55%. The big story for JPMorgan Chase this year has been the "London Whale" hedge trade, which led to second-quarter losses of $4.4 billion for the company's Chief Investment Office. But JPMorgan still managed to earn a $5.0 billion profit during the second quarter.
- Bank of America (BAC) has seen its shares return 64% year-to-date, through Friday's close at $9.19. The shares trade for 0.7 times tangible book value, and for 10 times the consensus 2013 EPS estimate of 91 cents. The consensus 2012 EPS estimate is 0.55%. Over the past four quarters through June, Bank of America's ROA was 0.52%, while the company's ROE was 4.84%. The company's mortgage putback drama continues, with repurchase demands increasing by 41% during the second quarter alone, to $22.7 billion as of June 30.
- Citigroup (C) closed at $33.81 Friday, returning 28% year-to-date, following a 44% decline during 2011. The shares trade for 0.7 times tangible book value, and for 7.5 times the consensus 2013 EPS estimate of $4.53. The consensus 2012 EPS estimate is $4.09. Citi's ROA over the 12-month period ended June 30 was 0.55%, and its ROE was 5.78%. Truly long-term investors are hoping eventually to receive a major return of capital from the company, as its Citi Holdings subsidiary continues to wind down, and the company eventually reverses some or all of its deferred tax valuation allowance.
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