U.S. banks off to strong start; Wells undervalued

A strong economy has led to strong early results from banks, and we see value in Wells Fargo.

Jim Sinegal 17 April, 2018 | 5:00PM

 

 

Jim Sinegal: It's starting off to be a great quarter for banks. For example, JPMorgan is now firing on all cylinders. They reported a 19% return on tangible equity; that's two percentage points above their long-term targets of 17%.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
Bank of America Corporation24.33 USD-2.13
Citigroup Inc47.96 USD-2.44
JPMorgan Chase & Co97.24 USD-2.62
Wells Fargo & Co26.27 USD-3.51

About Author

Jim Sinegal

Jim Sinegal  Jim Sinegal is a senior equity analyst for Morningstar.

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