Citi only major bank trading below tangible book value

|By:, SA News Editor

At about $49, Ciitgroup's (C +1%) stock sells for more than a 10% discount to tangible book value. Sitting at the top valuation-wise is Wells Fargo (WFC +0.6%), trading for nearly double its tangible book.

Citi has been the weakest performer of the TBTFs this year, with its exposure to jittery emerging markets as good of an excuse as any, but the shares were trading below book before that.

Trading at about 1.2x tangible book are Bank of America (BAC +1%), Morgan Stanley (MS +0.6%), and Goldman Sachs (GS +0.9%), while JPMorgan (JPM +1.1%) sells for 1.4x tangible book.