- Shares of JPMorgan Chase (JPM) closed at $42.84 Thursday, returning 33% year-to-date, following last year's 20% decline. The shares trade for 1.2 times tangible book value, according to Thomson Reuters Bank Insight and for just eight times the consensus 2013 EPS estimate of $5.31. While JPMorgan has traveled a rocky road this year, suspending its share buyback program during the second quarter, when it booked a $4.4 billion hedge trading loss, the company's operating return on average assets (ROA) has ranged between 0.76% and 1.01% over the past five quarters, according to Thomson Reuters Bank Insight, compared to ROA ranging from 0.06% (during the most recent quarter)to 1.08% for Bank of America. Based on a 30-cent quarterly payout, the shares have an attractive dividend payout of 2.80%.
- Wells Fargo (WFC) closed at $34.05 Thursday, returning 26% year-to-date, following a 10% decline in 2011. The stock trades for 1.7 times tangible book value, which is no surprise, since Wells Fargo has been the best earner among the big four, with ROA ranging between 1.27% and 1.46% over the past five quarters. Wells Fargo's shares trade for nine times the consensus 2013 EPS estimate of $3.62. Based on a quarterly payout of 22 cents, the shares have a dividend yield of 2.58%.
- Shares of Citigroup closed at $37.95 Thursday, returning 44% year-to-date, following a 44% decline during 2011. Citi trades for 0.7 times tangible book value -- same as Bank of America -- but the company doesn't face Bank of America's risk from mortgage putback claims. The shares trade for eight times the consensus 2013 EPS estimate of $4.64. Citigroup's ROA over the past five quarters has ranged between 0.10 (during the most recent quarter, when the company wrote-down its stake in the Morgan Stanley Smith Barney joint venture) and 0.77%.
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