Among the four megabanks that have some form of Main Street and Wall Street operations, JPMorgan Chase and Wells Fargo are seen as the higher-quality players (that leaves Bank of America and Citigroup in the lower-quality group).

Currently, Wells Fargo is trading at around a 50% premium to JPMorgan on a price-to-tangible book basis. Fool analyst Anand Chokkavelu is bullish on both banks but thinks Wells Fargo is the better risk-adjusted bet -- even with the premium. See more in the following video.

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