Relatively High Forward P/E Ratio Detected in Shares of Comerica in the Diversified Banks Industry (CMA, USB, JPM, BAC, WFC)
Below are the three companies in the Diversified Banks industry with the highest forward price to earnings (P/E) ratios. Forward P/E uses estimated earnings to compare relative value among companies in the same industry. Generally, the lower the forward P/E, the more undervalued a company is believed to be.
Comerica ranks highest with a a forward P/E ratio of 15.37. US Bancorp is next with a a forward P/E ratio of 12.54. JPMorgan Chase ranks third highest with a a forward P/E ratio of 10.85.
Bank of America follows with a a forward P/E ratio of 10.17, and Wells Fargo rounds out the top five with a a forward P/E ratio of 10.12.
SmarTrend recommended that subscribers consider buying shares of Bank of America on July 20th, 2016 as our technology indicated a new Uptrend was in progress when shares hit $14.35. Since that recommendation, shares of Bank of America have risen 11.5%. We continue to monitor Bank of America for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: highest forward p/e ratio Comerica us bancorp JPMorgan Chase Bank of america wells fargo