JPMorgan Remains The Best Universal Bank Franchise: UBS

JPMorgan Chase & Co (NYSE:JPM) is facing billions in fines and darkening investor sentiment, but before the malfeasance came to light it was seen as the strongest bank coming out of the great recession, and according to UBS analysts Derek De Vries and Brennan Hawken it still is. JPMorgan’s tangible book value “Since 2006 JPMorgan Chase & Co (NYSE:JPM) has grown its tangible book value per share at a 12 percent CAGR and it is the only U.S. money center bank paying a significant dividend,” they write. “We expect JP Morgan to continue to earn a mid-teens return on tangible book value…