Investopedia: JPMorgan Still Cheap, But Never Easy

By and large, it looks like investors continue to prefer the regional banks to the money center banks such as JPMorgan (NYSE:JPM), Citi (NYSE:C) and Bank Of America (NYSE:BAC). To a certain extent, this makes sense - the regional banks are simpler to understand, less volatile (due in part to less reliance on trading and investment banking), and less of a soft target for litigation. That said, while JPMorgan's trading losses earlier this year highlight the fact that no bank with a prop desk is ever completely safe, today's valuation seems to undervalue not only the company's balance sheet and array of businesses, but the quality of its management and growth opportunities.

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