Relatively High P/E Ratio Detected in Shares of Comerica in the Diversified Banks Industry (CMA, USB, WFC, JPM, BAC)
Below are the three companies in the Diversified Banks industry with the highest price to earnings (P/E) ratios. P/E is an important valuation tool when comparing companies in the same industry. A higher P/E ratio means that investors are paying more for each unit of net income, so the stock is more expensive compared to one with a lower P/E ratio.
Comerica ranks highest with a a P/E ratio of 14.87. US Bancorp is next with a a P/E ratio of 13.45. Wells Fargo ranks third highest with a a P/E ratio of 11.93.
JPMorgan Chase follows with a a P/E ratio of 10.35, and Bank of America rounds out the top five with a a P/E ratio of 10.08.
SmarTrend recommended that subscribers consider buying shares of Bank of America on March 2nd, 2016 as our technology indicated a new Uptrend was in progress when shares hit $13.32. Since that recommendation, shares of Bank of America have risen 5.0%. We continue to monitor Bank of America for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: highest p/e ratio Comerica us bancorp wells fargo JPMorgan Chase Bank of america