- Shares of JPMorgan Chase (JPM) closed at $50.23 Tuesday, trading for 8.5 times the consensus 2014 EPS estimate of $5.94.
- Citigroup (C) closed at $50.09 Tuesday, trading for 9.4 times the consensus 2014 EPS estimate of $5.32.
- Morgan Stanley (MS) closed at $24.37, trading for 9.6 times the consensus 2014 EPS estimate of $2.54.
- Goldman Sachs (GS) closed at 154.52, trading for 10.1 times the consensus 2014 EPS estimate of $15.27.
- Wells Fargo (WFC) closed at $38.76, trading for 10.2 times the consensus 2014 EPS estimate of $3.81.
NEW YORK ( TheStreet) -- It's been quite a see-saw ride for Bank of America ( BAC) and its investors. Shares of the nation's second largest bank by total assets closed at $13.34 Tuesday, returning 15% this year, after more than doubling during 2012. Of course, last year's performance followed an epic 58% drop during 2011, so the volatility has led to a 1% return since the end of 2010. Not so good for long-term investors, but quite a bit of fun for day traders. Bank of America's shares now trade for 10.3 times the consensus 2014 EPS estimate of $1.29, among analyst polled by Thomson Reuters. Here's how that compares to the other five "megabanks," to use the term lovingly adopted by Senators Sherrod Brown (D., Ohio) and David Vitter (R., La):
2015 estimated earnings and that banks trade at a 20% discount to this (at the high end of historical levels) and market sensitives at a 10% discount to banks overall (also in line with history) this would imply a multiple of 9x," he wrote. Bank of America's shares trade for 8.6 times O'Connor's 2015 EPS estimate of $1.55. With Bank of America seeing light at the end of its legacy mortgage putback tunnel, investors are looking for operating earnings growth. The bank is beginning to take back mortgage market share, largely lost to Wells Fargo in the wake of the credit crisis. According to O'Connor, Bank of America's "mortgage originations rose 11% in 1Q q/q vs. down slightly for peers and +12% (vs. +5%) over the past four quarters."