Are Citigroup, JPMorgan Too Expensive?

KBW’s Frederick Cannon and Matthew Dinneen note that U.S. universal banks like Citigroup (C), JPMorgan Chase (JPM), Wells Fargo (WFC) and Bank of America (BAC) have had a good year, having gained 11% so far in 2014, easily topping the gains from in their European counterparts. But are they too expensive? Cannon and Dinneen don’t think so. They explain [...]