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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Anand Chokkavelu owns shares of Bank of America, Citigroup, Wells Fargo, and JPMorgan Chase. He also owns long-dated options on Bank of America and warrants on Citigroup, Wells Fargo, and JPMorgan Chase. Andrew Tonner owns shares of Wells Fargo. The Motley Fool owns shares of JPMorgan Chase, Bank of America, Wells Fargo, and Citigroup and has created a covered strangle position in Wells Fargo. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.