Analyst: JPMorgan is still the best in show
Predicts strong future for bank
While some analysts like Dick Bove, vice president at Rafferty Capital Markets, see a bleaker future for JPMorgan Chase (JPM), not everyone is as negative about what litigation will do to the mega bank. As Seeking Alpha reports, at least one analyst is rather keen on the stock. Here is that analyst's assessment:
Despite the fact that Chase's stock has not performed as well as its competitors I think that it is the most attractive. Chase's earnings have been the most stable of the large money center banks. Also, its valuations (price-to-earnings ratio 8.6 and price to book ratio 0.99) are very attractive. In addition after the second quarter its dividend was increased by 26% to $1.52 per share, and it now its yield is 2.9%, which is the highest of any of the large money center banks.