Top 5 Companies in the Diversified Banks Industry With the Highest Forward P/E Ratio (CMA, USB, WFC, JPM, BAC)
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 13.32. US Bancorp is next with a a forward P/E ratio of 12.13. Wells Fargo ranks third highest with a a forward P/E ratio of 10.92.
JPMorgan Chase follows with a a forward P/E ratio of 9.84, and Bank of America rounds out the top five with a a forward P/E ratio of 8.82.
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 4.2%. 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 wells fargo JPMorgan Chase Bank of america