- Shares of Citigroup (C) closed at $36.05 Wednesday, returning 37% year-to-date, following a 44% decline last year. The shares trade for 0.7 times their reported Sept. 30 tangible book value of $52.70, and for eight times the consensus 2013 EPS estimate of $4.64.
- JPMorgan Chase (JPM) closed at $40.46 Wednesday, returning 25% year-to-date, following a 20% decline during 2011. The shares trade for 1.1 times tangible book value, according to Thomson Reuters Bank Insight, and for eight times the consensus 2013 EPS estimate of $5.32. In addition to historically attractive valuations, JPMorgan's shares have an attractive dividend yield of 2.97%.
- Shares of Wells Fargo (WFC) closed at $32.91 Wednesday, returning 22% year-to-date, following a 10% decline during 2011. The shares trade for 1.5 times tangible book value, and for nine times the consensus 2013 EPS estimate of $3.63. Based on a quarterly payout of 22 cents, Wells Fargo's shares have a dividend yield of 2.67%. Wells Fargo higher multiple to book value reflects the company's status as the best and most consistent earner among the big four, with operating returns on average assets (ROA) improving from 1.27% to 1.46% over the past five quarters, according to Thomson Reuters.
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