Seeking Alpha

Banks that have rallied recently may be cheap in tangible book value but aren't the ones to own,...

Banks that have rallied recently may be cheap in tangible book value but aren't the ones to own, Keefe Bruyette says, favoring JPMorgan Chase (JPM +1%) and U.S. Bancorp (USB +1.6%), which trade at higher book values but will improve earnings this year. Bank of America (BAC) is +30% YTD, but even CEO Brian Moynihan admits it must “show the earnings progress."
Comments (1)
  • I am sure glad I didn't pay attention to anyone who has been negitive on BAC. I averaged in when it was in the $5.00 range and have made a nice chunk of change. I plan to hold this stock for a very long time and watch it move up to $10 and then to $15 and beyond. Not everyone is against this stock.. Glad I don't pay much attention to the bears who don't like BAC
    8 Mar 2012, 03:27 PM Reply Like
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